Farmland Partners(FPI)

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Aethlon Medical Reaches Key Milestone with Enrollment of the First Patient in (FPI) Its Hemopurifier® Cancer Trial in Australia
Prnewswire· 2024-11-11 13:01
Patient Enrolled at the Cancer Clinical Trial Unit, CALHN, Royal Adelaide Hospital Aethlon's Trial is a Safety, Feasibility, and Dose Finding Study of the Hemopurifier® in Patients with Solid Tumors Not Responding to Anti-PD-1 AntibodiesSAN DIEGO, Nov. 11, 2024 /PRNewswire/ -- Aethlon Medical, Inc. (Nasdaq: AEMD), a medical therapeutic company focused on developing products to treat cancer and life-threatening infectious diseases, today announced enrollment of the first patient in its Australian safety, fea ...
Farmland Partners(FPI) - 2024 Q3 - Quarterly Report
2024-10-31 20:05
Table of Contents or UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-36405 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock FPI Ne ...
Farmland Partners(FPI) - 2024 Q3 - Earnings Call Transcript
2024-10-31 19:18
Financial Data and Key Metrics Changes - For Q3 2024, net income was $1.8 million or $0.02 per share, lower than the same period in 2023 due to impacts from asset dispositions [24] - AFFO for Q3 2024 was $1.4 million or $0.03 per share, higher than the same period in 2023, positively impacted by lower property taxes and increased crop sales profitability [24] - For the nine months ended September 30, 2024, net income was $1.2 million or negative $0.02 per share, lower than the same period in 2023, while AFFO was $4.7 million or $0.10 per share, higher than the same period in 2023 [25] Business Line Data and Key Metrics Changes - Fixed farm rent decreased by approximately 3.5% due to dispositions in 2023, partially offset by acquisitions and higher rents from lease renewals [32] - Direct operations revenue increased by $1.6 million year-over-year due to higher crop sales volume and profitability [32] Market Data and Key Metrics Changes - The company sold over $500 million of farmland in the last 24 months, achieving significant gains for shareholders [10] - The average price per acre for the sold farms was approximately $7,000, above the U.S. average of $5,500 [50] Company Strategy and Development Direction - The company aims to close the valuation gap by increasing stock price or returning capital to shareholders through buybacks and distributions [11] - The focus remains on maintaining a high-quality portfolio, particularly in Illinois, which is expected to appreciate more than other regions [19] Management's Comments on Operating Environment and Future Outlook - Management noted that while the farming environment is challenging, it does not indicate massive bankruptcies, as farmers generally maintain positive cash flow due to land ownership [56][58] - Rent projections for 2025 are expected to be flat to a maximum of 5% increase, reflecting current market conditions [59] Other Important Information - A special dividend in the range of $1 to $1.10 per share is anticipated, driven by tax requirements and to signal business strength [22][36] - The company has reduced its debt load significantly, with a current leverage level lower than ever since going public [11] Q&A Session Summary Question: What was the annualized revenue on the 52 farms sold? - The annualized revenue for the farm sales was approximately $11.2 million [44] Question: What drove the significant increase in crop sales year-over-year? - The increase was primarily driven by strong performance from the Condor avocado farm and citrus crops [42] Question: How will asset sales impact revenue in 2025? - The company will be in a restricted position for asset sales due to REIT rules, but they are prepared to navigate these limitations creatively [43] Question: What is the expectation for rent increases in 2025? - The expectation is for flat rent projections, with potential increases of up to 5% [59] Question: What is the outlook for G&A expenses next year? - G&A expenses are expected to normalize back to the $10 million to $11 million range, excluding one-time costs [61]
Farmland Partners(FPI) - 2024 Q3 - Earnings Call Presentation
2024-10-31 18:44
FPI LISTED Q3 2024 Supplemental Package Farmland Partners Inc. (NYSE: FPI) is an internally managed real estate company that owns and seeks to acquire high-quality farmland throughout North America addressing the global demand for food, feed, fiber and fuel. www.farmlandpartners.com | 4600 S Syracuse St Suite #1450 Denver CO 80237 | 720.452.3100 Table of Contents | --- | --- | |----------------------------------------------------------------------------------------------------------------------------------- ...
Farmland Partners (FPI) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
ZACKS· 2024-10-31 01:06
For the quarter ended September 2024, Farmland Partners (FPI) reported revenue of $13.32 million, up 14.6% over the same period last year. EPS came in at $0.03, compared to $0.07 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $11.88 million, representing a surprise of +12.07%. The company delivered an EPS surprise of +200.00%, with the consensus EPS estimate being $0.01. While investors scrutinize revenue and earnings changes year-over-year and how they compare wit ...
Farmland Partners (FPI) Tops Q3 FFO and Revenue Estimates
ZACKS· 2024-10-30 23:01
Farmland Partners (FPI) came out with quarterly funds from operations (FFO) of $0.03 per share, beating the Zacks Consensus Estimate of $0.01 per share. This compares to loss of $0.01 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an FFO surprise of 200%. A quarter ago, it was expected that this real estate investment trust specializing in farmland would post FFO of $0.01 per share when it actually produced FFO of $0.01, delivering no surprise. Ove ...
Farmland Partners(FPI) - 2024 Q3 - Quarterly Results
2024-10-30 20:05
Exhibit 99.1 Farmland Partners Inc. Reports Third Quarter 2024 Results Significantly Reduces Debt, Increases 2024 Earnings Guidance, And Projects Special Dividend Of At Least $1.00 DENVER, October 30, 2024 (BUSINESS WIRE) -- Farmland Partners Inc. (NYSE: FPI) ("FPI" or the "Company") today reported financial results for the quarter ended September 30, 2024. Selected Highlights During the quarter ended September 30, 2024, the Company: ● recorded net income of $1.8 million, or $0.02 per share available to com ...
Farmland Partners(FPI) - 2024 Q2 - Quarterly Report
2024-07-25 20:05
Table of Contents or UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-36405 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock FPI New Yor ...
Farmland Partners(FPI) - 2024 Q2 - Earnings Call Presentation
2024-07-25 18:39
FPI LISTED Q2 2024 Supplemental Package Farmland Partners Inc. (NYSE: FPI) is an internally managed real estate company that owns and seeks to acquire high-quality farmland throughout North America addressing the global demand for food, feed, fiber and fuel. www.farmlandpartners.com | 4600 S Syracuse St Suite #1450 Denver CO 80237 | 720.452.3100 Table of Contents | --- | --- | |----------------------------------------------------------------------------------------------------------------------------------- ...
Farmland Partners(FPI) - 2024 Q2 - Earnings Call Transcript
2024-07-25 18:38
Farmland Partners Inc. (NYSE:FPI) Q2 2024 Earnings Call July 25, 2024 11:00 AM ET Company Participants Luca Fabbri - President and Chief Executive Officer Christine Garrison - General Counsel Paul Pittman - Executive Chairman James Gilligan - Chief Financial Officer Susan Landi - Incoming Chief Financial Officer Conference Call Participants Scott Fortune - ROTH Capital Rob Stevenson - Janney John Massocca - B. Riley Securities Operator Thank you for standing by. My name is Greg and I will be your conference ...