Farmland Partners reports Q3 AFFO (1c), consensus (1c)

Reports Q3 revenue $11.62M, two estimates $12.65M. Luca Fabbri, President and Chief Executive Officer: “Against a backdrop of global economic and geopolitical uncertainty, the US agriculture industry in general, and farmland as an asset class in particular, continue to offer stability to consumers and investors alike. We have been leveraging this stability by continuing to selectively prune our portfolio, with a focus on farms that are not long-term strategic fits for the portfolio. With proceeds from asset sales, we are redeploying capital through stock buybacks, debt repayment and attractive asset acquisitions. The strong lease renewals we have been securing are a testament to the robust health of the farm economy and the overall quality of our portfolio.”