Farmland Partners Business Summary

Farmland Partners Inc. (FPI) operates as an internally managed real estate investment trust (REIT) primarily generating revenue through cash rents from triple-net lease agreements with independent farmers. Its business is segmented into farmland ownership, which encompasses a geographically diverse portfolio of approximately 125,000 acres across 15 states, and the FPI Loan Program, which provides secured financing to third-party farmers. The company’s portfolio is balanced between high-value row crops (corn, soybeans, wheat) and specialty crops (almonds, citrus, berries), supplemented by ancillary income from solar leases and strategic asset dispositions. FPI competes directly with Gladstone Land Corporation (LAND), Safehold Inc. (SAFE), and Four Corners Property Trust (FCPT). As one of only two pure-play publicly traded farmland REITs in the U.S., FPI distinguishes itself through its significant scale in row crop acreage and its focus on institutional-grade agricultural land as a hedge against inflation. The company was co-founded by Paul Pittman and Luca Fabbri, both of whom remain central to its strategic direction. Luca Fabbri serves as President and CEO, bringing a background in investment banking at Merrill Lynch and technology entrepreneurship as a co-founder of Co3 Systems. Paul Pittman, the Executive Chairman and former CEO, is a veteran investment banker and farmer whose vision centered on institutionalizing farmland as an asset class. The leadership team is supported by CFO Susan Landi and General Counsel Christine Garrison. FPI’s board includes notable independent directors such as Lead Independent Director Jennifer Grafton and John Good. The company maintains a strong institutional investor base, with major holdings by Vanguard Group, BlackRock, and Global Alpha Capital Management, reflecting its status as a core vehicle for agricultural real estate exposure.