Farmland Partners(US:FPI)2022-05-04 10:44Financial Performance - Net income for Q1 2022 was $1139 thousand, a 54% decrease compared to $2477 thousand in Q1 2021[13] - AFFO increased to $2119 thousand, compared to $(1609) thousand for the same period in 2021[13] - AFFO per weighted average common share increased to $004, compared to $(005) for the same period in 2021[13] - Total operating revenues increased by 20% to $13890 thousand in Q1 2022 from $11575 thousand in Q1 2021[13] - The company's Board of Directors declared a quarterly cash dividend of $006 per share, a 20% increase over the previous quarter[16] Balance Sheet and Debt - Total debt decreased by $484 million during Q1 2022[7] - The company sold 29 million shares of common stock for net proceeds of $383 million during Q1 2022[15] - Total debt outstanding was $4650 million at the end of Q1 2022, compared to $5134 million at the end of 2021[15] Portfolio and Operations - The company completed four property acquisitions for a total of $80 million during Q1 2022[14] - The company completed two property dispositions for cash consideration of $46 million and a total gain on sale of $07 million during Q1 2022[14] - As of March 31, 2022, the company owns and/or manages approximately 185700 acres in 19 states[19]