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Farmland Partners: 2Q Earnings Snapshot

August 6, 2019

DENVER (AP) _ Farmland Partners Inc. (FPI) on Tuesday reported a key measure of profitability in its second quarter. The results missed Wall Street expectations.

The Denver-based real estate investment trust said it had funds from operations of $33.5 million, or 5 cents per share, in the period.

The average estimate of three analysts surveyed by Zacks Investment Research was for a funds from operations loss of 2 cents per share.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had net income of $2.9 million, or 8 cents per share.

The real estate investment trust specializing in farmland posted revenue of $10.9 million in the period.

The company’s shares have increased 26% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $5.74, a decrease of 14% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FPI at https://www.zacks.com/ap/FPI

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