Farmland Partners Inc. (FPI)
Real Estate · NYQ
Price as at 2 Oct 2026, 10:34 UTC. Quotes are delayed.
Fundamentals
Valuation and ratings
Farmland Partners Inc. trades at $11.49, close to the $10.73 our fair value estimate puts on the business. On this measure the market and the model broadly agree, so the interesting question is which of them is wrong.
Our moat model scores it 59 out of 100, which is a moat, but not a deep one. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 18.3 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
FPI dividend history
Dividends per share by year
| Year | Total per share | Payments |
|---|---|---|
| 2026 (year to date) | $0.330 | 4 |
| 2025 | $0.440 | 5 |
| 2024 | $1.33 | 4 |
| 2023 | $0.450 | 5 |
| 2022 | $0.230 | 4 |
| 2021 | $0.200 | 4 |
| 2020 | $0.200 | 4 |
| 2019 | $0.200 | 4 |
| 2018 | $0.356 | 4 |
| 2017 | $0.512 | 4 |
| 2016 | $0.512 | 4 |
Split-adjusted amounts in the listing currency, grouped by the calendar year of the ex-dividend date, from the filed record. Growth and streak figures compare complete years only.
FPI earnings and analyst estimates
Recommendation mix, 3 published ratings
Estimates are the published analyst consensus and move often. An earnings date is scheduled, not certain, and a share tends to reprice most violently on the day itself.
About Farmland Partners Inc.
Farmland Partners Inc. is an internally managed real estate company that owns and seeks to acquire high-quality North American farmland and makes loans to third-party farmers (both tenant and non-tenant) and landowners secured by farm real estate and/or other agricultural related assets. As of June 30, 2026, the Company owned approximately 70,100 acres of farmland in 11 states, including Arkansas, California, Colorado, Illinois, Indiana, Louisiana, Missouri, Nebraska, South Carolina, Texas and West Virginia. In addition, the Company owns land and buildings for four agriculture equipment dealerships in Ohio leased to Ag Pro under the John Deere brand. The Company elected to be taxed as a real estate investment trust, or REIT, for U.S. federal income tax purposes, commencing with the taxable year ended December 31, 2014. Farmland Partners Inc. was established on September 27, 2013, and is based in Denver, United States.
Company profile, industry and headcount are as reported by our data provider and can lag a company's own filings by a reporting period. The annual report is the authority.
FPI passes 3 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Super investor ownership
8 of the funds we track reported a position in their latest SEC 13F filing. Largest first:
- Two Sigma, TWO SIGMA INVESTMENTS, LP$11.12M · 0.0% of book
- Renaissance Technologies, RENAISSANCE TECHNOLOGIES LLC$3.78M · 0.0% of book
- Paul Tudor Jones, TUDOR INVESTMENT CORP ET AL$3.45M · 0.0% of book
- Cliff Asness, AQR CAPITAL MANAGEMENT LLC$2.26M · 0.0% of book
- Marshall Wace, MARSHALL WACE, LLP$2.00M · 0.0% of book
A word of warning on reading these figures: a 13F reports the market value of a holding, so a fund that traded nothing at all still appears to have sold when the price fell. We found 102 companies where the standard reading gives the opposite answer. Only the share count is honest.
FPI peers
The largest companies in the same industry (REIT - Specialty), then in the same sector.
- IRM Iron Mountain Incorporated
- WY Weyerhaeuser Company
- LAMR Lamar Advertising Company
- GLPI Gaming and Leisure Properties, Inc.
- RYN Rayonier Inc.
- OUT OUTFRONT Media Inc.
- EPR EPR Properties
- LAND Gladstone Land Corporation
Every real estate company we cover is on the Real Estate hub.
Common questions
Is Farmland Partners Inc. (FPI) undervalued?
Against our fair value estimate of $10.73, FPI at $11.49 is 7% above fair value. That is one model's answer, not a recommendation. It is built from normalized earning power with growth capped deliberately low, which understates companies whose value is mostly future growth.
Which funds own FPI?
8 of the institutions we track reported a position in FPI in their most recent SEC 13F filing. A 13F is filed up to 45 days after quarter end, so it tells you what a fund held then, not what it holds now.
What is FPI's P/E ratio?
FPI trades at 18.3 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
Does Farmland Partners Inc. (FPI) pay a dividend?
Yes. Farmland Partners Inc. yields 3.78% at the current share price. It has paid $0.530 per share over the trailing twelve months. It has paid a dividend in each of the last 12 complete calendar years. A dividend is declared by the board and can be cut at any time; a yield is a fact about the current price, not a promise.
Where does SteadyShares get its FPI data?
Fundamentals for FPI come from company filings and exchange data, as listed on NYQ; institutional ownership comes from SEC 13F filings. The share price shown was last refreshed on 2 Oct 2026, 10:34 UTC and is delayed. Our data quality score for this company is 100/100, which is the share of the inputs behind our scores that were actually available rather than assumed. Metrics we do not hold are left out of the page rather than estimated.
The full research page for FPI, with financial statements, ownership detail, peer comparison and alerts, is free inside the app.
Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.