Farmland Partners (NYSE:FPI) Stock, Quote.Headers.trade-ideas

Farmland Partners

Farmland Partners Inc owns and seeks to acquire high-quality farmland throughout North America. The company is an internally managed real estate company which owns and contracts farmland and storage facilities located across the United States. Majority of the properties in its portfolio are used to grow primary crops, such as corn, soybeans, wheat, rice and cotton, and rest to produce specialty crops, such as almonds, citrus, blueberries, and vegetables. The company generates its revenues through the rent it receives from its tenants.

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Bill Gates Is Bullish on Farmland – Here&#39;s How You Can Gain Exposure to the Asset Right Now

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Farmland Partners Inc

FORMOSA PROSONIC INDSTS by Formosa Prosonic Industries Bhd

On August 9, a substantial insider purchase was made by John A Good, Director at Farmland Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FPI#NYSE">FPI</a>), as per the latest SEC filing.
What Happened: Good demonstrated confidence in Farmland Partners by purchasing 24,000 shares, as reported in a Form 4 filing with the <a href="https://www.sec.gov/Archives/edgar/data/0001591670/000106299324014723//Archives/edgar/data/1591670/000106299324014723/0001062993-24-014723-index.htm">U.S. Securities and Exchange Commission</a> on Friday. The total value of the transaction is $243,573.
Tracking the Friday's morning session, Farmland Partners shares are trading at $10.36, showing a up of 1.27%.
<h3>All You Need to Know About Farmland Partners</h3>
Farmland Partners Inc owns and seeks to acquire high-quality farmland throughout North America. The company is an internally managed real estate company which owns and contracts farmland and storage facilities located across the United States. Majority of the properties in its portfolio are used to grow primary crops, such as corn, soybeans, wheat, rice and cotton, and rest to produce specialty crops, such as almonds, citrus, blueberries, and vegetables. The company generates its revenues through the rent it receives from its tenants.
<h3>Unraveling the Financial Story of Farmland Partners</h3>
Revenue Challenges: Farmland Partners's revenue growth over 3 months faced difficulties. As of 30 June, 2024, the company experienced a decline of approximately -1.2%. This indicates a decrease in top-line earnings. When compared to others in the Real Estate sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Profitability Metrics: Unlocking Value
<ul>
<li>
Gross Margin: The company shows a low gross margin of 77.01%, indicating concerns regarding cost management and overall profitability relative to its industry counterparts.
</li>
<li>
Earnings per Share (EPS): Farmland Partners's EPS lags behind the industry average, indicating concerns and potential challenges with a current EPS of -0.06.
</li>
</ul>
Debt Management: Farmland Partners's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.68.
Exploring Valuation Metrics Landscape:
<ul>
<li>
Price to Earnings (P/E) Ratio: The Price to Earnings ratio of 31.0 is lower than the industry average, indicating potential undervaluation for the stock.
</li>
<li>
Price to Sales (P/S) Ratio: With a relatively high Price to Sales ratio of 10.11 as compared to the industry average, the stock might be considered overvalued based on sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): At 16.71, the company's EV/EBITDA ratio outperforms industry norms, reflecting positive market perception. This positioning indicates optimistic expectations for the company's future performance.
</li>
</ul>
Market Capitalization: With restricted market capitalization, the company is positioned below industry averages. This reflects a smaller scale relative to peers.
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<h3>The Relevance of Insider Transactions</h3>
Insider transactions, although significant, should be considered within the larger context of market analysis and trends.
From a legal standpoint, the term "insider" pertains to any officer, director, or beneficial owner holding more than ten percent of a company's equity securities as outlined in Section 12 of the Securities Exchange Act of 1934. This encompasses executives in the c-suite and significant hedge funds. These insiders are mandated to inform the public of their transactions through a Form 4 filing, to be submitted within two business days of the transaction.
A company insider's new purchase is a indicator of their positive anticipation for a rise in the stock.
While insider sells may not necessarily reflect a bearish view and can be motivated by various factors.
<h3>A Deep Dive into Insider Transaction Codes</h3>
When it comes to transactions, <a href="https://www.benzinga.com/money/investing-tools">investors</a> tend to focus on those in the open market, detailed in Table I of the Form 4 filing. A P in Box 3 denotes a purchase, while S indicates a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0001591670">Check Out The Full List Of Farmland Partners's Insider Trades.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

News

Insider Trades

Trading Ideas

John A Good Boosts Confidence With $243K Purchase Of Farmland Partners Stock

Farmland Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FPI#NYSE">FPI</a>) reported quarterly earnings of $0.01 per share which met the analyst consensus estimate. The company reported quarterly sales of $11.445 million which missed the analyst consensus estimate of $11.895 million by 3.78 percent. This is a 1.20 percent decrease over sales of $11.584 million the same period last year.

Earnings

Earnings Misses

Farmland Partners Q2 2024 AFFO $0.01, Inline, Sales $11.445M Miss $11.895M Estimate

Management

Farmland Partners Appoints Susan Landi As CFO

Bill Gates is the largest private owner of farmland in the United States, with a portfolio of nearly 270,000 acres, according to the Associated Press.
When asked <a href="https://www.benzinga.com/real-estate/23/02/31073894/bill-gates-finally-explains-why-hes-buying-so-much-u-s-farmland">why he's been purchasing so much farmland</a> in an "Ask Me Anything" session on <a href="https://www.reddit.com/r/IAmA/comments/109eze3/im_bill_gates_and_im_back_for_my_11th_ama_ask_me/">Reddit</a>, Gates responded, "I own less than 1/4000 of the farmland in the US. I have invested in these farms to make them more productive and create more jobs. There isn&#8217;t some grand scheme involved &#8211; in fact, all these decisions are made by a professional investment team."
If you think Gates is making a smart move by investing in farmland, you can do the same with these two <a href="https://www.benzinga.com/go/real-estate-screener">real estate</a> investment trusts (REIT) focused on farmland.
<h2 class="wp-block-heading">Farmland Partners</h2>
Farmland Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FPI#NYSE">FPI</a>) is the largest farmland REIT in the United States by acreage. Its portfolio consists of nearly 300 farms totaling approximately 177,400 acres across 17 states. The company also owns land and buildings for four agriculture equipment dealerships leased to Ag Pro under the John Deere brand in Ohio.
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</ul>
Farmland Partners currently pays a quarterly dividend of $0.06 per share, equating to an annualized dividend of $0.24 per share, which gives its stock a yield of about 2.2% at the time of this writing.
Farmland Partners may not have a very high yield, but it's worth noting that it paid a special dividend of $0.21 per share in January because of strong asset appreciation. With a strong first quarter already in the books, investors could see another special dividend next year.
<h2 class="wp-block-heading">Gladstone Land Corp.</h2>
Gladstone Land Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAND#NASDAQ">LAND</a>) is a farmland REIT with a portfolio of <a href="https://d1io3yog0oux5.cloudfront.net/_3fb088243424b4dbd9de458ed2fcbc29/gladstonefarms/db/858/8909/pdf/LAND_Corporate_February2024+-+V3-FINAL.pdf">168</a> farms totaling nearly 112,000 acres across 15 states. It's primarily focused on farms that grow fresh produce annually, including most fruits and vegetables, as well as certain permanent crops, including blueberries and nuts, because fresh produce has historically outpaced inflation.
<h2 class="wp-block-heading">Trending:</h2>
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<li>Want to Create a Passive Income Stream? <a href="https://www.benzinga.com/real-estate/23/05/32554601/want-to-grow-your-wealth-passively-these-high-yield-real-estate-notes-might-be-your-holy-grail">These High-Yield Real Estate Notes Might Be Your Holy Grail</a></li>
</ul>
Gladstone currently pays a quarterly dividend of $0.0466 per share, equating to an annualized dividend of $0.5592 per share, which gives its stock a yield of about 4.1% at the time of this writing.
In addition to being a high yielder, Gladstone is a dividend-growth star. In a press release announcing its most recent dividend increase in April, the company proudly noted that it has raised its dividend 34 times over the prior 37 quarters.
<h2 class="wp-block-heading">Read Next:</h2>
<ul>
<li>Investing in real estate just got a whole lot simpler. This<a href="https://www.benzinga.com/money/dara-khosrowshahi-backed-startup-lets-you-become-a-landlord-with-100"> Dara Khosrowshahi-backed startup</a> will allow you to become a landlord in just 10 minutes, and you only need $100.</li>
<li>Commercial real estate has historically outperformed the stock market, but few investors have the capital or resources needed to invest in this asset class. This platform <a href="https://www.benzinga.com/money/marcus-millichap-backed-platform-makes-it-easy-to-invest-in-real-estate">allows individuals to invest in commercial real estate with as little as $5,000.</a></li>
</ul>
Image Credit: Shutterstock

Bill Gates Is Bullish on Farmland – Here's How You Can Gain Exposure to the Asset Right Now

Bill Gates is the largest private owner of farmland in the United States with a portfolio of nearly 250,000 acres, according to <a href="https://landreport.com/land-report-100/bill-gates">The Land Report</a>.
When asked <a href="https://www.benzinga.com/real-estate/23/02/31073894/bill-gates-finally-explains-why-hes-buying-so-much-u-s-farmland">why he's been purchasing so much farmland</a> in an "Ask Me Anything" session on <a href="https://www.reddit.com/r/IAmA/comments/109eze3/im_bill_gates_and_im_back_for_my_11th_ama_ask_me/">Reddit</a>, Gates responded, "I own less than 1/4000 of the farmland in the US. I have invested in these farms to make them more productive and create more jobs. There isn&#8217;t some grand scheme involved &#8211; in fact, all these decisions are made by a professional investment team."
If you think Gates is making a smart move by investing in farmland, you can do the same with this real estate investment trust (REIT) focused on farmland.
<h2 class="wp-block-heading">Don't Miss:</h2>
<ul>
<li>Investing in real estate just got a whole lot simpler. This <a href="https://www.benzinga.com/money/bezos-landlord-100-dollars">Jeff Bezos-backed startup will allow you to become a landlord</a> in just 10 minutes, and you only need $100.</li>
<li>Want To Grow Your Wealth Passively? Unlock Real Wealth with <a href="https://www.benzinga.com/money/cityfunds-yield">Cityfunds&#8217; Exclusive 8% Yield Fund</a>.</li>
</ul>
<h2 class="wp-block-heading">Farmland Partners</h2>
Farmland Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FPI#NYSE">FPI</a>) is the largest farmland REIT in the United States by acreage. Its portfolio consists of nearly 300 farms totaling approximately 171,000 acres across 17 states as of its most recent <a href="https://s201.q4cdn.com/607655624/files/doc_downloads/2024/fpi-investor-presentation-march-2024.pdf">investor presentation</a>.
Farmland Partners currently pays a quarterly dividend of $0.06 per share, equating to an annualized dividend of $0.24 per share, which gives its stock a yield of about 2.2% at the time of this writing.
While its yield isn't very high, it's important to note that Farmland Partners paid a special dividend of $0.21 per share in January because of strong asset appreciation. With the special dividend included, the company declared $0.45 per share in dividends in 2023, which would equate to a yield of about 4.1% at today's levels.
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<li>Miami Is Expected To Take New York's Place As The US Financial Capital. <a href="https://www.benzinga.com/money/miami-take-new-yorks-place-financial-capital">Invest In It With $500 Before That Happens</a>.</li>
</ul>
Image Credit: Shutterstock

Guidance

Farmland Partners Increased Bottom And Top End Of 2024 AFFO Guidance Range From $0.15-$0.23 To $0.19-$0.26

Farmland Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FPI#NYSE">FPI</a>) reported quarterly earnings of $0.06 per share. This is a 100 percent increase over earnings of $0.03 per share from the same period last year. The company reported quarterly sales of $11.990 million which missed the analyst consensus estimate of $12.150 million by 1.32 percent. This is a 5.38 percent decrease over sales of $12.672 million the same period last year.

Farmland Partners Q1 2024 FFO $0.06 Up From $0.03 YoY, Sales $11.990M Miss $12.150M Estimate

Farmland Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FPI#NYSE">FPI</a>) reported quarterly earnings of $0.16 per share which missed the analyst consensus estimate of $0.17 by 5.88 percent. The company reported quarterly sales of $21.59 million which missed the analyst consensus estimate of $22.29 million by 3.12 percent. This is a 1.06 percent decrease over sales of $21.82 million the same period last year.

Farmland Partners Q4 2023 FFO $0.16 Misses $0.17 Estimate, Sales $21.59M Miss $22.29M Estimate

Parents or grandparents often desire to invest some money in the future costs of college or postgraduate education for their children. However, it's not always known how to invest the funds safely and wisely. The simplest way may be to choose an index fund, such as the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), but fast-growing dividend stocks with moderate to high yields may perform just as well or better over time.
Real estate investment trusts (REITs) are required to pay shareholders 90% or more of the company's taxable profits received. At times, in addition to the regularly scheduled dividend, REITs may even pay out special annual dividends on assets sold for a profit. Recent examples of this include Host Hotels &amp; Resorts Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HST#NASDAQ">HST</a>), which paid a $0.25 per share special dividend in December, and Farmland Partners Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FPI#NYSE">FPI</a>) which paid a $0.21 per share special dividend in January.  
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<li>Passive income investments are one of the most trusted methods for riding out a recession, so it's no surprise that people are turning to these <a href="https://www.benzinga.com/money/godwin-capital-notes">high-yield commercial real estate notes that pay a fixed 10% &#8211; 12%.</a></li>
</ul>
Investors cannot predict in advance which REITs are likely to pay special dividends, but by looking at present and historical information, one can see which REITs are likely to continue paying high yields in future years.
The following chart details 10 REITs that could make an excellent basket of stocks for a future goal, such as a college education or even a down payment on a home. The criteria employed are REITs that have a present yield of 5% or greater, a five-year average dividend growth rate of 3% or more and a five-year annual average beta (volatility risk compared with the S&amp;P 500) of less than 1.1. The S&amp;P 500 has a beta of 1, so it's best to stay close to or below that number. &nbsp;
To further reduce risk, the 10 REITs selected have a wide range of diversity among REIT subsectors. These include three retail, one healthcare, one office, one diversified and four specialized REITs. The specialized REITs are further divided into a telecom tower, self-storage, casino/gaming and restaurant REITs.
An initial investment of $10,000 in this basket, with $2,000 annual contributions coupled with an initial annual dividend yield of 5%, expected dividend increases of 3% a year, 3% annual share price appreciation and a 15% long-term dividend tax rate, will become $48,097 over 10 years. The results assume the investor uses a dividend reinvestment plan.
These numbers are purposely calculated on the conservative side. Most of the yields are far above 5% and the dividend growth rates in most cases are well above 3%. The 10-year annualized total return average for six of the REITs was 8.53%. The four REITs that did not have 10 years of returns had a 5-year average annualized total return of 8.18%. So those total returns are slightly higher than the 8% estimate of dividend yield plus appreciation used in the calculation model.
&nbsp;Take a look at the chart below to see the 10 REITs selected for this basket:&nbsp;
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td>Symbol</td>
<td>Dividend Yield</td>
<td>Dividend Growth Rate</td>
<td>Beta</td>
</tr>
<tr>
<td>Crown Castle Inc.</td>
<td>CCI</td>
<td>5.65%</td>
<td>6.82%</td>
<td>0.74</td>
</tr>
<tr>
<td>Agree Realty Corp.</td>
<td>ADC</td>
<td>4.97%</td>
<td>5.95%</td>
<td>0.54</td>
</tr>
<tr>
<td>Realty Income Corp.</td>
<td>O</td>
<td>5.55%</td>
<td>3.02%</td>
<td>0.9</td>
</tr>
<tr>
<td>Kilroy Realty Corp.</td>
<td>KRC</td>
<td>5.55%</td>
<td>3.48%</td>
<td>1.04</td>
</tr>
<tr>
<td>National Storage Affiliates Trust</td>
<td>NSA</td>
<td>5.78%</td>
<td>13.3%</td>
<td>0.85</td>
</tr>
<tr>
<td>VICI Properties Inc.</td>
<td>VICI</td>
<td>5.44%</td>
<td>7.62%</td>
<td>0.87</td>
</tr>
<tr>
<td>Getty Realty Corp.</td>
<td>GTY</td>
<td>6.48%</td>
<td>5.15%</td>
<td>0.88</td>
</tr>
<tr>
<td>Four Corners Property Trust Inc.</td>
<td>FCPT</td>
<td>5.81%</td>
<td>3.71%</td>
<td>0.98</td>
</tr>
<tr>
<td>Caretrust REIT Inc.</td>
<td>CTRE</td>
<td>5.29%</td>
<td>6.43%</td>
<td>1.06</td>
</tr>
<tr>
<td>CTO Realty Growth Inc.</td>
<td>CTO</td>
<td>9.04%</td>
<td>77.26%</td>
<td>0.95</td>
</tr>
</tbody>
</table>
</figure>
The earlier in the child's life that you start contributing to a college fund, the better. The portfolio value after 15 years increases to $79,809, and if you initiate the portfolio at the time of birth, in 18 years the value increases to $104,902.
College and postgraduate tuition has risen sharply over the past 20 years. In 2004, the average annual tuition among national universities was $4,633 for in-state students. This year, it's $11,970. That's a 158% increase, so imagine what tuition could cost 15 or 20 years down the road.&nbsp;
Keep in mind that the basket presented here could perform better or worse than the numbers achieved over the past 10 years. But if an investor is looking for a way to fund college tuition for their children or grandchildren, well-performing REITs with solid dividend growth and yields could be a great place to start.
Weekly REIT Report: REITs are one of the most misunderstood investment options, making it difficult for investors to spot incredible opportunities until it's too late. Benzinga's in-house real estate research team has been working hard to identify the greatest opportunities in today's market, which you can gain access to for free by signing up for the <a href="https://www.benzinga.com/money/reit-newsletter">Weekly REIT Report.</a>
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</ul>

Bill Gates is the largest private owner of farmland in the United States, with a portfolio of nearly 250,000 acres, according to <a href="https://landreport.com/land-report-100/bill-gates">The Land Report</a>.
When asked <a href="https://www.benzinga.com/real-estate/23/02/31073894/bill-gates-finally-explains-why-hes-buying-so-much-u-s-farmland">why he's been purchasing so much farmland</a> in an "Ask Me Anything" session on <a href="https://www.reddit.com/r/IAmA/comments/109eze3/im_bill_gates_and_im_back_for_my_11th_ama_ask_me/">Reddit</a>, Gates responded, "I own less than 1/4000 of the farmland in the US. I have invested in these farms to make them more productive and create more jobs. There isn&#8217;t some grand scheme involved &#8211; in fact, all these decisions are made by a professional investment team."
If you think Gates is making a smart move by investing in farmland, you can do the same with this <a href="https://www.benzinga.com/alternative-investments/real-estate?investorType=All&amp;minimumInvestment%5B%5D=0,250000&amp;sortBy=Recommended">real estate</a> investment trust (REIT) focused on farmland.
<h2 class="wp-block-heading">Don't Miss:</h2>
<ul>
<li>Investing in real estate just got a whole lot simpler. This<a href="https://www.benzinga.com/money/dara-khosrowshahi-backed-startup-lets-you-become-a-landlord-with-100"> Dara Khosrowshahi-backed startup</a> will allow you to become a landlord in just 10 minutes, and you only need $100.</li>
<li>Commercial real estate has historically outperformed the stock market, but few investors have the capital or resources needed to invest in this asset class. A platform backed by industry giant Marcus &amp; Millichap is changing that, <a href="https://www.benzinga.com/money/marcus-millichap-backed-platform-makes-it-easy-to-invest-in-real-estate">allowing individuals to invest in commercial real estate with as little as $5,000.&nbsp;</a></li>
</ul>
<h2 class="wp-block-heading">Farmland Partners</h2>
Farmland Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FPI#NYSE">FPI</a>) owns, leases, and manages high-quality farmland. As of September 30, 2023, its portfolio consists of approximately 178,200 acres of farmland across 20 states, including Alabama, California, Florida, Iowa, Kansas, Missouri, South Carolina, Texas, and Virginia, making it the largest farmland REIT in the United States by acreage. Additionally, it owns land and buildings for four agriculture equipment dealerships in Ohio, which are leased to Ag Pro under the John Deere &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DE#NYSE">DE</a>) brand.
Farmland Partners currently pays a quarterly dividend of $0.06 per share, equating to $0.24 per share annually, which gives it a yield of about 2.1% at today's levels. While its yield isn't eye-popping, it's important to note that it paid a special dividend of $0.21 per share earlier this month because of strong asset appreciation. With the special dividend included, the company declared $0.45 per share in dividends in 2023, which would equate to a yield of about 3.9% at today's levels.
<h2 class="wp-block-heading">Read Next:</h2>
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<li>Commercial real estate has historically outperformed the stock market, but few investors have the capital or resources needed to invest in this asset class. A platform backed by industry giant Marcus &amp; Millichap is changing that, <a href="https://www.benzinga.com/money/marcus-millichap-backed-platform-makes-it-easy-to-invest-in-real-estate">allowing individuals to invest in commercial real estate with as little as $5,000.&nbsp;</a></li>
<li>Collecting passive income from real estate just got a whole lot simpler. A new <a href="https://www.benzinga.com/money/dara-khosrowshahi-backed-startup-lets-you-become-a-landlord-with-100">real estate fund backed by Dara Khosrowshahi</a> gives you instant access to a diversified portfolio of rental properties, and you only need $100 to get started.</li>
</ul>
Image Credit: Shutterstock

Invest Like Bill Gates With This Market Leader

Raymond James analyst Buck Horne maintains Farmland Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FPI#NYSE">FPI</a>) with a Outperform and raises the price target from $14 to $15.

Price Target

Analyst Ratings

Raymond James Maintains Outperform on Farmland Partners, Raises Price Target to $15

As much as investors love regular dividend payments, it's even more "special" when one of their stocks pays a special dividend, most often at the end of the calendar year.&nbsp;
Because real estate investment trusts (REITs) are required to pay shareholders 90% or more of taxable income each year, special dividend distributions are often required when a REIT disposes of assets with large gains, which increases the taxable income for that year.
The special dividend benefits shareholders with a larger annual yield and helps the REIT by creating shareholder confidence and loyalty. But keep in mind that the payment of a special dividend will decrease the share price by a similar amount, just as the regular dividend payment does. The share price may rise in the week before the ex-dividend date, so it behooves investors who wish to receive the special dividend to purchase shares as soon as possible.
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Take a look at five REITs that have upcoming ex-dividend dates for special dividend payments in the last week of 2023.&nbsp;
Park Hotels &amp; Resorts Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PK#NYSE">PK</a>) is a Tysons, Virginia-based hotel REIT with 43 hotels (plus two held in receivership) and resorts with over 26,000 rooms in prime U.S. markets with high barriers to entry. Properties in Hawaii account for 36% of its portfolio.
Park was established as an independent company in January 2017 following its spinoff from Hilton Hotels Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLT#NYSE">HLT</a>). In September 2019, Park acquired Chesapeake Lodging Trust to add premium-brand hotels and resorts in prime markets such as Miami, Boston, Los Angeles and San Francisco.
On Dec. 1, Park Hotels declared a regular quarterly dividend of $0.15 and a top-off dividend of $0.78, along with a previously announced $0.77 special cash dividend to be paid on Jan. 16 to shareholders of record on Dec. 29. The ex-dividend date for all three payments is Dec. 28, and Park Hotels shareholders will receive three dividend payments on Jan. 16.
Host Hotels &amp; Resorts Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HST#NASDAQ">HST</a>) is a Bethesda, Maryland-based lodging REIT with 77 hotels containing 42,000 rooms in large markets across the U.S. Host Hotels is the only lodging REIT in the S&amp;P 500 and has been in the index since 2007. Its hotel brands include Marriott, Hyatt, Four Seasons and Hilton.
Host Hotels shareholders will receive two rewards in January. On Dec. 15, Host Hotels &amp; Resorts announced an 11% increase in its fourth-quarter dividend from $0.18 to $0.20 per share and a special dividend of $0.25 per share. The dividends are payable on Jan. 16 to shareholders of record on Dec. 29. The ex-dividend date for both payments is Dec. 28. The dividend hike and special dividend increase the annual yield from 3.7% to 5.45%.
Rayonier Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RYN#NYSE">RYN</a>) is a Yulee, Florida-based specialty REIT that invests in timberland in the U.S. and New Zealand. At the end of the third quarter, Rayonier owned long-term agreements on 2.8 million acres of timberland. Rayonier was established in 1926.
On Dec. 18, Rayonier announced a one-time special cash dividend of $0.20 per common share, payable on Jan. 12 to shareholders of record on Dec. 29. The special dividend is the result of Rayonier's disposition of 55,000 acres of timberland in Oregon in the fourth quarter.
SITE Centers Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SITC#NYSE">SITC</a>) is a Beachwood, Ohio-based retail REIT with 106 wholly owned shopping centers, 65% of which are anchored by grocery stores or high-quality discounters in affluent areas of the U.S. Its third-quarter lease rate was 94.4%. In October, SITE Centers announced it would spin off 61 convenience sector properties into a separate REIT called Curbline Properties. The spinoff is expected to take one full year, and Curbline is slated to start with a net cash position and no debt.
On Dec. 13, SITE Centers declared a special dividend of $0.16 per share, payable on Jan. 12 to shareholders of record on Dec. 27, with an ex-dividend date on Dec. 26. The special dividend is from the sale of about 15% of SITE Centers' asset base this year.&nbsp;
Farmland Partners Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FPI#NYSE">FPI</a>) is a Denver-based, internally managed specialty REIT that invests in farmland and originates loans to farmers that are secured by farm real estate. Farmland Partners is the No. 1 farmland REIT by total acreage, owning or managing over 300 farms totaling 178,216 acres in 20 states. Its properties produce 26 crops and have over 100 tenants. Farmland also owns properties in Ohio leased by four agriculture equipment dealerships.&nbsp;&nbsp;
On Dec. 12, Farmland Partners announced a special dividend of $0.21 per share, payable on Jan. 12 to shareholders of record on Dec. 29. The ex-dividend date is Dec. 28. The special dividend is because of the sale of 35 farms in 2023 for $71.1 million with an aggregate gain of $10.3 million. The special dividend is on top of the regular $0.06 per share quarterly dividend payable on Jan. 16 to shareholders of record on Jan. 2, with an ex-dividend date of Dec. 29.
Weekly REIT Report: REITs are one of the most misunderstood investment options, making it difficult for investors to spot incredible opportunities until it's too late. Benzinga's in-house real estate research team has been working hard to identify the greatest opportunities in today's market, which you can gain access to for free by signing up for the <a href="https://www.benzinga.com/money/reit-newsletter">Weekly REIT Report.</a>
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SITC

5 REITs Paying Special Dividends With Upcoming Ex-Dividend Dates

Bill Gates is best known for cofounding the software giant Microsoft Corp. With a net worth of somewhere in the range of $118 billion, it's safe to say that he has done well for himself.&nbsp;
But there's something else you may not know. Gates has had great success investing outside of the tech industry. For example, he owns quite a bit of farmland in the United States. That's right. One of the top tech titans over the past 40+ years has invested heavily in farmland.&nbsp;
<h2 class="wp-block-heading">How Much Farmland Does Bill Gates Own?</h2>
Gates doesn't do anything small. He's all in on every investment he makes, and that includes farmland.&nbsp;
Through Cascade Investment, <a href="https://landreport.com/farmer-bill">Gates owns</a> roughly 242,000 acres across 19 states. That's enough to make him the largest private owner of farmland in the United States.&nbsp;
As for land in general, he's the 49th-largest private owner in the United States.&nbsp;
<h2 class="wp-block-heading">Bill Gates Vs. Farmland Partners: Who Owns More Farmland?</h2>
Farmland Partners Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FPI#NYSE">FPI</a>) is a farmland real estate investment trust REIT with a $637.629 million market cap. With that, it's the largest farmland REIT in the United States.&nbsp;
The <a href="https://www.benzinga.com/money/farmland-reits">farms it operates</a> specialize in providing agricultural products that are needed worldwide, including fiber, food, fuel and feed for farm animals and livestock.
As of Sept. 30, Farmland Partners&#8217; portfolio included 178,216 total acres in two categories: 147,211 acres owned and 31,005 acres managed.&nbsp;
This farmland is <a href="https://www.businesswire.com/news/home/20231212980366/en/">spread across 19 states</a>, including Alabama, Arkansas, California, Colorado, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Louisiana, Michigan, Mississippi, Missouri, Nebraska, North Carolina, Oklahoma, South Carolina and Texas.
With these numbers in mind, Gates owns approximately 63,800 more acres of farmland than Farmland Partners.&nbsp;
Investing in real estate just got a whole lot simpler and you can get started in minutes with as little as $100. <a href="https://www.benzinga.com/alternative-investments/real-estate">Browse available offerings here</a>.

Who Owns More Farmland: Bill Gates Or Farmland Partners?

Farmland Partners Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FPI#NYSE">FPI</a>) (the &quot;Company&quot; or &quot;FPI&quot;) today announced that its Board of Directors has declared a one-time dividend of&nbsp;$0.21&nbsp;per share of common stock and Class A Common OP Unit, payable on January 12, 2024 to shareholders of record on December 29, 2023.

Dividends

Farmland Partners Asset Appreciation Leads to Declaration of $0.21 per Share Special Dividend

Farmland Partners Says It And Ducks Unlimited Completed Land Conservation Project in Virginia

Farmland Partners Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FPI#NYSE">FPI</a>) (the "Company" or "FPI") today announced an update to its expected special dividend, resulting from the significant appreciation of assets sold during 2023.
FPI has been selectively selling farmland, focusing on properties that are no longer a long-term strategic fit for the portfolio. While these are not the best assets of the portfolio, their sales have generated substantial gains, requiring the Company to pay a special dividend, as detailed below, to remain in compliance with REIT income distribution rules.
Special Dividend Details:
<ul>
<li>Consideration: cash.</li>
<li>Timing expectation: to be officially declared in December to stockholders of record on a date later in December, and to be paid in January 2024.</li>
<li>Amount: FPI expects the special dividend to be between $0.20 and $0.38 per share of common stock and Class A Common OP Unit. This amount could decrease or increase with asset sale transactions that have not been finalized.</li>
<li>Note: the special dividend described herein is in addition to the quarterly dividend of $0.06 per share of common stock and Class A Common OP Unit that was declared on October 24, 2023. For more details, please see "Note 12—Subsequent Events" of the Company's 9/30/2023 10-Q.</li>
</ul>
"Selectively pruning our portfolio in a strong farmland marketplace was a business priority this year, and those efforts have enabled us to improve our portfolio, using sales proceeds to buy back stock, reduce debt, and buy other attractive assets," said Luca Fabbri, FPI's President and CEO. "While required under Federal income tax rules, shareholders should regard this special distribution as tangible proof of the power of appreciation in our asset class and the significant upside in the current price of our common stock."

Farmland Partners Asset Appreciation Leads To Expected Special Distribution Of Between $0.20 And $0.38 Per Share

Farmland Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FPI#NYSE">FPI</a>) reported quarterly losses of $(0.01) per share. This is a 120 percent decrease over earnings of $0.05 per share from the same period last year. The company reported quarterly sales of $11.62 million which missed the analyst consensus estimate of $12.65 million by 8.17 percent. This is a 11.59 percent decrease over sales of $13.14 million the same period last year.

Farmland Partners Q3 EPS $(0.01) Down From $0.05 YoY, Sales $11.62M Miss $12.65M Estimate

Farmland Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FPI#NYSE">FPI</a>) is set to give its latest quarterly earnings report on Wednesday, 2023-10-25. Here's what investors need to know before the announcement.
Analysts estimate that Farmland Partners will report an earnings per share (EPS) of $0.07. 
Farmland Partners bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
Here's a look at Farmland Partners's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
<th>Q3 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>EPS Actual</td>
<td>-0.02</td>
<td>0.03</td>
<td>0.18</td>
<td>0.05</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-11.5%</td>
<td>3.53%</td>
<td>-14.13%</td>
<td>4.97%</td>
</tr>
</tbody>
</table>

<h3>Stock Performance</h3>
Shares of Farmland Partners were trading at $10.36 as of October 23. Over the last 52-week period, shares are down 24.7%. Given that these returns are generally negative, long-term shareholders are likely a little upset going into this earnings release. 
<a href="https://www.benzinga.com/quote/FPI/earnings">To track all earnings releases for Farmland Partners visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Preview: Farmland Partners's Earnings

When investors discuss real estate investment trusts (<a href="https://www.benzinga.com/real-estate/reit">REITs</a>), they're generally focused on companies that own office buildings, shopping malls, stand-alone stores, self-storage units, warehouses or healthcare establishments.
But there are also specialty REITs that own and operate more distinctive properties, including those related to owning and operating farmland. Because this niche is so specialized, there are only two REITs involved in owning farmland. While neither has performed well in 2023, there is potential for one or both to stage a comeback. Take a look at the details.
Farmland Partners Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FPI#NYSE">FPI</a>) is a Denver-based, internally managed specialty REIT that invests in farmland and originates loans to farmers that are secured by farm real estate. Farmland Partners owns and/or manages over 340 farms totaling 190,200 acres in 20 states.
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Farmland also owns land and buildings in Ohio for four agriculture equipment dealerships. Farmland properties produce 26 crops and have over 100 tenants. Farmland Partners is the No. 1 farmland REIT by total acreage.
Farmland pays a quarterly dividend of $0.06 per share and its annual dividend of $0.24 per share yields 2.3392%. With rising interest rates, most REIT investors are gravitating toward higher yields, and as a result, Farmland has not fared well this year. Its total return in 2023 is negative 16.14%.
But better performance could be in its future. Here are some reasons for optimism:
<ul>
<li>&nbsp;Recent insider purchases. On Sept. 27, CEO and Executive Chairman Paul Pittman purchased 100,000 shares at an average price of $10.26 for a total of $1.03 million. Pittman has made 107 purchases since 2014. and this is his largest ever. The purchase of 100,000 shares could indicate that Pittman knows things are improving and the stock is now undervalued. Over the past two months, several other company directors also received company stock in lieu of cash bonuses.&nbsp;</li>
<li>Farmland gave an update on Sept. 11 to reassure investors that no significant damage occurred to its farmlands from either Hurricane Idalia or Tropical Storm Hilary. In addition, Farmland reported that it has increased its rental rates in 2023 by over 15%.</li>
<li>Recent analyst ratings have been favorable. In August, Raymond James analyst Buck Horne maintained an Outperform rating on Farmland Partners and raised the price target from $13 to $14.</li>
<li>Farmland has realized gains on over $50 million worth of farm sales in the first half of 2023. Farmland is looking to add to that over the second half of the year and intends to use the proceeds to pay down higher-cost debt.&nbsp;</li>
</ul>
A few cautionary notes: The annual $0.24 dividend per share is presently above the forward funds from operations (FFO) of $0.16 per share. This means the payout ratio is over 100% and cash reserves will have to be used to fund the dividend unless FFO begins to increase with Farmland's third-quarter results. With a 2.34% dividend yield, there isn't a lot of room for a dividend cut either if Farmland wants to maintain its income investors.
Farms sold may be beneficial for paying down debt, but the loss of assets also means a loss of earnings and revenue going forward.
Farmland missed estimates for both FFO and revenue in its second-quarter operating results. But the $1.03 million purchase by the CEO/executive chairman could be a tip-off that better FFO results are on the way.
Gladstone Land Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAND#NASDAQ">LAND</a>) is a McLean, Virginia-based specialty REIT that owns farmland and related properties in major agricultural U.S. markets and leases or leases back its properties to farmers. Gladstone owns 169 farms with 116,000 acres across 15 states. Gladstone Gladstone also owns 45,000 acre-feet of banked water in California worth approximately $1.6 billion. About 40% of Gladstone Land's acreage is used for organic produce. Gladstone Land was founded in 1997.
Shares have been on a roller coaster ride since 2019. Shares rose from about $10 in January 2019 to a high of $40.33 in April 2022. But since then, shares have plummeted to a recent closing price of $14.23. Gladstone's total return in 2023 is negative 20.89%. Higher interest rates are the main reason for the decline. Wall Street is concerned that rates will affect Gladstone's long-term debt and its tenants' operations.
There are also some recent positives to report that could help shares rebound from the decimation of 2023.
Gladstone Land is a monthly dividend payer and raised its monthly dividend from $0.046 to $0.0462 in mid-July. Gladstone has now paid out 126 consecutive monthly cash distributions since its January 2013 initial public offering (IPO) and has increased its dividend 31 times over the last 34 quarters.&nbsp;&nbsp;
Analysts have written favorable reports recently on Gladstone Land. In August, EF Hutton analyst Gaurav Mehta assumed Gladstone Land at Buy and announced a price target of $20. On Aug. 11, Ford Equity Research upgraded Gladstone Land from a 4 rating to a 3.
Although the second-quarter FFO of $0.11 was down from $0.13 year over year, revenue of $21.21 million beat the analysts' estimate of $20.39 million and was a 4.52% increase over revenue of $20.29 million in the second quarter of 2022.
There continue to be some risks present in owning Gladstone Land Corp. The annual dividend of $0.5544 yields 3.9%, but the payout ratio is nearly 86%, which does not afford room for much more dividend growth without an increase in FFO.
Gladstone admits that higher interest rates, coupled with high prices on farmland, have made it difficult to initiate new acquisitions. Some of the newer lease agreements have resulted in an aggregate decrease in annual net operating income from prior leases. This is a trend that could be temporary, especially if interest rates begin to taper off, but it's one worth following because it could impact Gladstone's ability to increase its FFO.
Weekly REIT Report: REITs are one of the most misunderstood investment options, making it difficult for investors to spot incredible opportunities until it's too late. Benzinga's in-house real estate research team has been working hard to identify the greatest opportunities in today's market, which you can gain access to for free by signing up for the <a href="https://www.benzinga.com/money/reit-newsletter">Weekly REIT Report.</a>
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Are Better Times Ahead For Farmland REITs?

Farmland Partners Says While There Was Substantial Rain On The Company's Farms In The Areas Affected By Hurricane Idalia And Tropical Storm Hilary, There Was No Significant Damage That Would Impair Productivity

Farmland Partners Inc. (FPI) Q2 2024 Earnings Call Transcript

Robert W. Baird analyst Wes Golladay maintained a Hold rating on Farmland (FPI – Research Report) on July 24 and set a price target of $12.00. Wes ...

Wes Golladay Maintains Hold Rating on Farmland Partners Inc. Amid Mixed Q2 Performance and Cautious Outlook

Roth MKM analyst Scott Fortune maintained a Buy rating on Farmland (FPI – Research Report) today and set a price target of $14.00. The company's sh...

Roth MKM Remains a Buy on Farmland (FPI)

The latest update is out from Farmland (FPI). Farmland Partners Inc. has expanded its Board of Directors and appointed Dr. Bruce J. Sherrick as an ...

Farmland Boosts Board Expertise with Dr. Sherrick's Appointment

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Press Releases

MWA Nearly Doubles its Farmland Management Portfolio, Eclipses 40,000 Acres

Farmland Partners Inc. Announces Date for Fourth Quarter and Fiscal Year 2023 Earnings Release and Conference Call

Farmland Partners Inc. Reports Full Year 2023 Results

Farmland Partners Inc. Announces Date for First Quarter 2024 Earnings Release and Conference Call

Farmland Partners Inc. Reports First Quarter 2024 Results

Farmland Partners Announces Promotion of Susan Landi to CFO

Farmland Partners Inc. Announces Date for Second Quarter 2024 Earnings Release and Conference Call

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Farmland Partners (FPI) Forecast

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