Farmland Partners Inc (FPI) Fair Value & Analysis
Real Estate · US · Market cap $433M
Farmland Partners Inc
FPI · US
Fair value as of: Jul 26, 2026
From 16 valuation models · updated 15 days ago
Share price +3.2% over the past month.
A solid business, but screening 21% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case ($8.93). The favourable scenario is already priced in.
- Solid but not exceptional quality (55/100) and above fair value, neither a clear bargain nor a standout compounder.
- As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 26, 2026.
How to read this chart
60‑month range $7.85 – $13.05 · fair‑value band $5.24 – $8.93 · the $9.90 price screens above the $7.78 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 26, 2026.
Analysis
Farmland Partners Inc (FPI) currently trades at $9.90, while our model-based Fair Value estimate is $7.78, implying the stock looks roughly 21.4% overvalued today. The Quality Score stands at 55/100 (solid quality), in the Real Estate sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).
Over the trailing twelve months, Farmland Partners Inc generated revenue of $51.6M at a net margin of 58.4%. Revenue declined 1.7% year over year. It earns a return on equity of 5.8%. Net debt stands at $152M. Fundamentals as of Jul 26, 2026
Our scenario range runs from $5.24 (bear case) to $8.93 (bull case); at $9.90, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 25% below its 52-week high and 9% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -50% fair-value upside, at -21%, FPI screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 16 models by family
Widest divergence: Dividend Discount ($18.69) versus Growth DCF ($2.83). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 26, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 52 · Market factors (momentum, volatility) 45
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
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.
Full company description
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 March 31, 2026, the Company owned approximately 70,400 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 description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Farmland Partners Inc reported revenue of $52.2M in FY2025 versus $51.7M in FY2021, a compound +0.2%/yr. Reported net income was $31.5M in FY2025, compounding +33.3%/yr from FY2021.
of which total revenue +11.4 pp · buybacks/dilution −18.8 pp
Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).
FPI screens 21% overvalued. Compare with Equinix, Inc →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Farmland Partners Q2 Earnings Call Highlights
- Farmland Partners (FPI) Beats Q2 FFO and Revenue Estimates
- Farmland real estate values jumped nearly 40% since 2020 — these 2 publicly traded REITs let everyday investors buy in
- Farmland Partners declares $0.09 dividend
Peer Group
REIT - Specialty · 34 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs REIT - Specialty median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more REIT - Specialty stocks, each showing price versus our Fair Value estimate (as of Jul 26, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Equinix, Inc EQIX | $1,009 | $232.70 | -77% |
| American Tower Corporation AMT | $164.65 | $92.31 | -44% |
| Digital Realty Trust, Inc DLR | $199.08 | $63.31 | -68% |
| Iron Mountain Incorporated IRM | $128.31 | $40.43 | -68% |
| Crown Castle Inc CCI | $74.90 | $37.67 | -50% |
| SBA Communications Corporation SBAC | $173.57 | $143.83 | -17% |
| Weyerhaeuser Company WY | $23.94 | $8.62 | -64% |
| Lamar Advertising Company LAMR | $159.46 | $102.70 | -36% |
| Gaming and Leisure Properties, Inc GLPI | $45.17 | $36.60 | -19% |
| Rayonier Inc RYN | $21.58 | $9.96 | -54% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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