1st Half: Farmland Partners’ Sales Up 21%, Net Income Up 771%

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Source: Farmland Partners news release

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Farmland Partners Inc. (NYSE: FPI) (the “Company”) today reported financial results for the quarter ended June 30, 2018.

For the three months ended June 30, 2018, the Company recorded a net loss of $2.3 million and a basic net loss to common stockholders of $0.07 per share, as compared to net income of $0.8 million and basic net income to common stockholders of $0.02 per share for the same period during 2017. For the six months ended June 30, 2018, the Company recorded a net loss of $5.1 million and a basic net loss to common stockholders of $0.15 per share, as compared to a net loss of $1.8 million and a basic net loss to common stockholders of $0.06 per share for the same period during 2017.

For the three months ended June 30, 2018, the Company recorded Adjusted Funds from Operations (“AFFO”) of $0.2 million and AFFO per fully diluted share of $0.01, as compared to AFFO of $3.8 million and AFFO per fully diluted share of $0.10 for the same period during 2017. For the six months ended June 30, 2018, the Company recorded AFFO of $0.2 million and AFFO per fully diluted share of $0.01, as compared to AFFO of $4.2 million and AFFO per fully diluted share of $0.12 for the same period during 2017.

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