An Inside Look At Farmland Partners
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.
- 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.
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.
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.
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.
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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.