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An Inside Look At Farmland Partners

Dec. 10, 2020 3:23 PM ETFPI7 Comments
Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Dividend Growth Investing, REITs, Value

Seeking Alpha Analyst Since 2009

Brad Thomas is the CEO of Wide Moat Research ("WMR"), a subscription-based publisher of financial information, serving over 100,000 investors around the world. WMR has a team of experienced multi-disciplined analysts covering all dividend categories, including REITs, MLPs, BDCs, and traditional C-Corps.

The WMR brands include: (1) iREIT on Alpha (Seeking Alpha), and (2) The Dividend Kings (Seeking Alpha), and (3) Wide Moat Research. He is also the editor of The Forbes Real Estate Investor

Thomas has also been featured in Barron's, Forbes Magazine, Kiplinger’s, US News & World Report, Money, NPR, Institutional Investor, GlobeStreet, CNN, Newsmax, and Fox. 

He is the #1 contributing analyst on Seeking Alpha in 2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021, and 2022 (based on page views) and has over 108,000 followers (on Seeking Alpha). Thomas is also the author of The Intelligent REIT Investor Guide (Wiley) and is writing a new book, REITs For Dummies. 

Thomas received a Bachelor of Science degree in Business/Economics from Presbyterian College and he is married with 5 wonderful kids. He has over 30 years of real estate investing experience and is one of the most prolific writers on Seeking Alpha. To learn more about Brad visit HERE.

Summary

  • FPI is +25% year-to-date.
  • In May 28th we purchased shares in the small cap REIT portfolio (at $6.98 per share) and we have been pleased with the performance over the previous six months.
  • We maintain a Spec Buy.

Farmland Partners (FPI) is +25% year-to-date and recently obtained another key investor who will also be joining the company’s board. In May 28th we purchased shares in the small cap REIT portfolio (at $6.98 per share) and we have been pleased with the performance over the previous six months.

Yahoo Finance

Today I interviewed FPI’s CEO, Paul Pittman, to discuss the new investor ($10 mm at $8.00 per share). Pittman explained the rationale for the sidecar deal, and he views it as “hugely positive” and allows FPI to return to a “growth mode”.

Pittman also provided an update on the lawsuit (involving a Seeking Alpha article) and the company’s ongoing efforts to litigate, in his words, “we’re not going to give up”.

We are maintaining a Spec Buy based upon FPI’s current share price of $8.47 and we recently upgraded our Fair Value (Buy Below) price to $8.50 per share.

FAST Graphs

As viewed below, our Small Cap REIT portfolio has returned an average of 32% (since it commenced on January 2016)…and FPI is one of 20 constituents in the portfolio.

Sharesight

To watch the entire interview with Paul Pittman or any of our other C-suite interviews, subscribe to iREIT on Alpha. We have dozens of interviews in which we ask our members what questions to ask, never leaving any stone unturned.

Tap Into Our Powerful Platform

Even at the risk of being repetitive, I am going to keep touting the major iREIT on Alpha enhancements we’re making this week. I don’t want anyone to miss out on our new:

  • Enhanced Preferred Tracker
  • mREIT Tracker
  • Equity REIT Tracker with enhanced screening capabilities
  • iREIT iQ (quality) Tracker for all equity REITs
  • BDC (business development company) Tracker.

That’s on top of our:

  • Canadian REIT Tracker
  • Dividend Increase and Cut Tracker
  • Ground Up podcast filled with C-suite interviews, which include transcripts
  • Safe midstream/MLP picks
  • Top REIT Buy List.

Keep reading to get your official link into all of that – and so much more – as we wrap up this crazy, crazy year. You’ve still got room to make it more sane.

Happy holidays,

Brad Thomas

Your One Stop Shop For “Everything Income”

No matter what’s going on around us, iREIT on Alpha remains committed to helping investors make the most of the good times and navigate the bad.

We not only find great REITs at great prices… we also show you how to spot them for yourself. Our quality scoring tool makes it immensely easier to analyze the various REIT’s economic moat and therefore long-term stability potential in your portfolio.

When you join, you’ll get immediate access to unmatched tools and REIT research… all with a 2-week FREE trial attached!

This will also give you access to dozens of C-suite interviews on my Ground Up podcast. That will include the Farmland episode just as soon as I wrap it up!

Analyst's Disclosure: I am/we are long FPI.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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