Farmland Partners Q2 AFFO slightly beats estimates

Overview

• U.S. farmland REIT's Q2 operating revenue fell 5.7% yr/yr

• Q2 adjusted FFO rose 30.6% and slightly beat analyst expectations

• Company raised low end of 2026 AFFO per share guidance

Outlook

• Company raises low end of 2026 AFFO per share guidance to $0.31 from $0.30; top end remains at $0.35

• Farmland Partners expects to continue evaluating asset disposals through year-end

• Company says resilient farm economy supports outlook for strong remainder of 2026

Result Drivers

• PORTFOLIO STREAMLINING - Co said efforts to create a leaner corporate structure and streamline core business led to improved operating profitability

• ASSET DISPOSITIONS - Gains from property sales contributed to quarterly results

• FARM ECONOMY - Co said a resilient farm economy aided performance of core business

Company press release: ID:nBwbNz2N5a

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the specialized reits peer group is "buy."

• Wall Street's median 12-month price target for Farmland Partners Inc is $12.50, about 30.9% above its July 28 closing price of $9.55

• The stock recently traded at 50 times the next 12-month earnings vs. a P/E of 49 three months ago

Reuters Recommended Reads

• July 28 - WP Carey Q2 revenue beats estimates on higher leases; AFFO outlook raised

• July 28 - Extra Space Storage lifts 2026 FFO forecast on higher pricing, cost controls

• July 29 - Bunge posts Q2 earnings beat on strong crush margins, raises 2026 outlook

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)