Farmland Partners Inc. (FPI) Stock Price & Analysis
Farmland Partners Inc. (FPI) closed at USD 10 on Thursday, October 22, 2026, up 1.63% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 9.84; the Oct 22, 2026 session ranged USD 9.86–10.09 on volume of 475,066 shares. Market capitalization is $439.24M, with a 52-week range of USD 9.21–13.23 (NYQ). Source: Nexqual, retrieved October 23, 2026 at 10:37 UTC.
Also available as compact Markdown for AI agents: nexqual.com/FPI.md
Key facts (FPI)
- Last four reported quarters (through Jun 30, 2026): revenue $51.5M, net income $25.7M (49.8% margin) (SEC filings).
- Valuation: P/E 17.1x (avg 16.7x at the last 3 fiscal year-ends), net debt $213M.
- Insider open-market purchases, last ~7 months: 1 Form 4 filing, $19K; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Hold (mean 3.00 on a 1–5 scale) (2 analysts), mean target USD 10.5 (range 10.5–10.5).
- Total return with dividends: 1Y +2.4% vs S&P 500 +14.9%; 5Y +5.7% vs S&P 500 +80.3%.
- Next earnings: 2026-10-28, EPS estimate USD 0.02, revenue estimate $9.9M.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (FPI)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $51.7M | $61.2M | $57.5M | $58.2M | $52.2M | $51.5M |
| Operating income | $16.8M | $25.0M | — | — | — | — |
| Net income | $10.0M | $11.7M | $30.9M | $59.9M | $31.5M | $25.7M |
| EPS (diluted) | -$0.17 | $0.16 | $0.53 | $1.06 | $0.61 | — |
| Operating margin | 32.5% | 40.8% | — | — | — | — |
| Net margin | 19.3% | 19.1% | 53.8% | 102.9% | 60.5% | 49.8% |
| Revenue growth | +2.1% | +18.3% | -6.1% | +1.3% | -10.4% | — |
| Cash + short-term investments | $30.2M | $7.7M | $5.5M | $78.4M | $9.3M | — |
| Total debt | $513M | $439M | $363M | $205M | $162M | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (FPI)
P/E 17.1x · P/S 8.5x · EV/Sales 12.7x · P/B 0.9x · Earnings yield 5.84% · Dividend yield (paid, TTM) 4.64% · Net debt $213M · EV $653M
P/E at fiscal year-ends: Dec 2025 15.7x, Dec 2024 11.0x, Dec 2023 23.5x.
Insider purchases (SEC Form 4, open-market, last ~7 months) (FPI)
1 purchase, $19K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-06-25 | Sherrick Bruce J | Director | 2,000 | $19K | 9.65 | Too little history (no open-market trades in 2023 or 2024) |
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Analysts (FPI)
Consensus Hold (mean 3.00 on a 1–5 scale), 2 analysts; mean target USD 10.5 (low 10.5, high 10.5).
Total return (dividends reinvested) (FPI)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | +2.4% | +5.7% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +2.4% | +1.1% |
| Volatility (annualized) | 24.0% | 26.7% |
| Max drawdown | -27.0% (Feb 2026→Jul 2026) | -35.5% (May 2022→Mar 2023) |
FPI revenue by product line (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Real Estate Other | $2.6M | 27.8% | +4.6% |
| — Interests Income (part of Real Estate Other) | $1.6M | 17.0% | +7.8% |
| — Amortization Of Points Income (part of Real Estate Other) | $594,000 | 6.3% | -6.0% |
| — Other Revenues Disaggregated (part of Real Estate Other) | $422,000 | 4.5% | +1658.3% |
| Crop Sales | $1.1M | 11.5% | -24.9% |
| Total revenue | $9.4M | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
FPI suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | FEDERAL AGRICULTURAL MORTGAGE CORP (AGM) | “The Operating Partnership has a bond purchase agreement entered into in October 2022 and amended in December 2025 (the "Farmer Mac Facility") with Federal Agricultural Mortgage Corporation and its wholly owned subsidiary, Farmer Mac Mortgage Securities Corporation (collectively, "Farmer Mac").” |
Quoted from the company's 10-K filed Feb 19, 2026.
FPI company outlook (results filed Jul 29, 2026)
- “Guidance and Supplemental Package For the Company's 2026 AFFO per share earnings guidance, please see page 15 of the supplemental package, which can be accessed through the Investor Relations section of the Company's website.”
Quoted word-for-word from the SEC 8-K results press release.
FPI analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $0.02 | $0.03 | -33.3% | $9.9M | 1 |
| Next quarter (ends Dec 2026) | $0.16 | $0.14 | +14.3% | $15.7M | 1 |
| Current fiscal year (ends Dec 2026) | $0.23 | $0.20 | +15.6% | $45.2M | 2 |
| Next fiscal year (ends Dec 2027) | $0.24 | $0.24 | +0.0% | $42.9M | 1 |
FPI options: expected move
Options price a move of about ±7.0% (±$0.70) by Nov 20, 2026, which includes earnings on Oct 28, 2026. Over the last 8 reports the stock moved ±3% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Nov 20, 2026 | 28 | 30.8% | ±7.0% |
| Jan 15, 2027 | 84 | 30.2% | ±11.7% |
| Feb 19, 2027 | 119 | 34.7% | ±13.0% |
| May 21, 2027 | 210 | 30.0% | ±18.0% |
| Jun 17, 2027 | 237 | 27.7% | ±17.5% |
30-day implied volatility 30.8% vs 27.8% realized over the last 30 trading days. Put/call ratio (volume) 0. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 10:37 UTC)
| Price | USD 10 |
|---|---|
| Change | ▲ 1.63% (up) |
| Previous Close | USD 9.84 |
| Open | USD 9.89 |
| Day Range | USD 9.86 – 10.09 |
| 52-Week Range | USD 9.21 – 13.23 |
| Volume | 475,066 shares |
| Market Cap | $439.24M |
| Exchange | NYQ |
Technical Analysis (FPI)
Nexqual's technical model rates FPI "SELL" based on 1 bullish and 5 bearish signals across 127 daily candles, as of October 23, 2026 at 10:37 UTC.
| Overall Signal | SELL |
|---|---|
| RSI (14) | 37.42 (neutral) |
| vs SMA50 | Below (USD 10.53) |
| MACD | -0.18 (negative) |
Analyst Ratings (FPI)
Wall Street analysts rate FPI "Hold" based on 2 analysts, with a mean price target of USD 10.5 (range USD 10.5–10.5), per Nexqual as of October 23, 2026 at 10:37 UTC.
| Consensus Rating | Hold |
|---|---|
| Analyst Count | 2 |
| Mean Target | USD 10.5 |
| High Target | USD 10.5 |
| Low Target | USD 10.5 |
| Buy / Hold / Sell | 0 / 2 / 0 |
Earnings (FPI)
| Next Earnings Date | 2026-10-28 |
|---|---|
| EPS Estimate | USD 0.02 |
| Revenue Estimate | $9.94M |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 0.01 vs est 0.03 ▼ miss |
| 2026-03-31 | USD 0.02 vs est 0.04 ▼ miss |
| 2025-12-31 | USD 0.19 vs est 0.18 ▲ beat |
| 2025-09-30 | USD 0.03 vs est -0.01 ▲ beat |
Source: Nexqual, October 23, 2026 at 10:37 UTC.
Financials & Fundamentals (FPI)
| Total Revenue | $51.06M |
|---|---|
| Revenue Growth (latest quarter, YoY) | -5.50% |
| Gross Margin | +82.67% |
| Operating Margin | +36.32% |
| Profit Margin | +50.24% |
| ROE | +5.03% |
| Debt / Equity | 0.48 |
| Current Ratio | 1.02 |
| Total Cash | $11.42M |
| Total Debt | $224.31M |
Source: Nexqual, October 23, 2026 at 10:37 UTC.
Financial Health Score (FPI)
Nexqual rates Farmland Partners Inc.'s overall financial health "Mixed" across five dimensions, as of October 23, 2026 at 10:37 UTC.
| Growth | Critical — Revenue -10% YoY (annual), sharp decline |
|---|---|
| Profitability | Strong — Gross margin 83%, operating 36% (last 12 months) |
| Balance Sheet | Solid — $11M cash and investments vs $225M debt (Jun 2026, SEC) |
| Cash Flow | Solid — Operating cash flow $17M (FY ended Dec 2025, 10-K) |
| Efficiency | Mixed — ROE 5%, ROA 2.0% |
Ownership (FPI)
| Insider Ownership | +7.91% |
|---|---|
| Institutional Ownership | +55.08% |
| Shares Outstanding | 43.63M |
| Float | 39.85M |
| Short % of Float | +11.02% |
Source: Nexqual, October 23, 2026 at 10:37 UTC.
Leadership (FPI)
Farmland Partners Inc. is led by Luca Fabbri, President, CEO & Board Director, per Nexqual as of October 23, 2026 at 10:37 UTC.
| President, CEO & Board Director | Luca Fabbri |
|---|---|
| Executive Chairman | Paul A. Pittman |
| CFO & Treasurer | Susan M. Landi |
| Vice President of Operations | Richard Keck |
Major Backers & Investors (FPI)
Notable institutional backers of Farmland Partners Inc. include Accordant Advisory Group Inc , Two Sigma Investments, LP, DEUTSCHE DWS INVESTMENT TRUST-DWS Small Cap Core Fund, according to Nexqual as of October 23, 2026 at 10:37 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Accordant Advisory Group Inc | 3.36% |
| Two Sigma Investments, LP | 2.63% |
| DEUTSCHE DWS INVESTMENT TRUST-DWS Small Cap Core Fund | 2.06% |
| Uniplan Investment Counsel, Inc. | 1.86% |
| Fidelity | 1.56% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| BlackRock | 9.54% |
| Vanguard Group | 8.85% |
| Geode Capital | 2.72% |
| Deutsche Bank AG | 2.15% |
| State Street | 2.1% |
Source: Nexqual, October 23, 2026 at 10:37 UTC.
From Farmland Partners Inc.'s Latest SEC 10-K Filing (filed 2026-02-19)
Key Strengths & Strategy (as disclosed to the SEC)
- We believe that we are organized in conformity with the requirements for qualification as a REIT under the Code and that our intended manner of operation will enable us to meet the requirements for qualification and taxation as a REIT for U.S. federal income tax purposes.
Partnerships
- We believe our management team's deep understanding of agribusiness fundamentals and insight into factors affecting the value of farmland allow us to identify properties consistent with our investment criteria.
- Our portfolio supports biodiversity through the enrollment of acres, in partnership with our tenants, in the USDA's Conservation Reserve Program (CRP).
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
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|---|---|---|---|
| LAND | Gladstone Land Corporation | USD 8.8 | ▲ 2.56% |
| UNIT | Uniti Group Inc. | USD 5.19 | ▼ 2.99% |
| BXDC | Blackstone Digital Infrastructu | USD 15.88 | ▼ 1.49% |
| FRMI | Fermi Inc. | USD 2.65 | ▼ 7.34% |
| EPR | EPR Properties | USD 56.36 | ▲ 3.34% |
| OUT | OUTFRONT Media Inc. | USD 31.4 | ▲ 1.29% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 10:37 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt