Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands |
3 Months Ended |
6 Months Ended |
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
| OPERATING REVENUES: |
|
|
|
|
| Rental income (See Note 2) |
$ 10,471
|
$ 5,881
|
$ 17,274
|
$ 10,298
|
| Tenant reimbursements |
652
|
95
|
756
|
164
|
| Other revenue |
337
|
55
|
579
|
261
|
| Total operating revenues |
11,460
|
6,031
|
18,609
|
10,723
|
| OPERATING EXPENSES |
|
|
|
|
| Depreciation, depletion and amortization |
2,056
|
365
|
3,544
|
683
|
| Property operating expenses |
1,196
|
541
|
2,999
|
981
|
| Acquisition and due diligence costs |
183
|
48
|
698
|
105
|
| General and administrative expenses |
2,052
|
1,657
|
4,133
|
3,183
|
| Legal and accounting |
302
|
186
|
701
|
552
|
| Other operating expenses |
120
|
|
276
|
89
|
| Total operating expenses |
5,909
|
2,797
|
12,351
|
5,593
|
| OPERATING INCOME |
5,551
|
3,234
|
6,258
|
5,130
|
| OTHER (INCOME) EXPENSE: |
|
|
|
|
| Other income |
(16)
|
(33)
|
(22)
|
(62)
|
| Loss on disposition of assets |
92
|
|
92
|
|
| Interest expense |
3,454
|
1,950
|
6,169
|
5,804
|
| Total other expense |
3,530
|
1,917
|
6,239
|
5,742
|
| NET INCOME (LOSS) |
2,021
|
1,317
|
19
|
(612)
|
| Net (income) loss attributable to non-controlling interests in operating partnership |
(334)
|
(408)
|
41
|
67
|
| Net (income) loss income attributable to redeemable non-controlling interests in operating partnership |
|
(37)
|
|
64
|
| Net income (loss) attributable to the Company |
1,687
|
872
|
60
|
(481)
|
| Nonforfeitable distributions allocated to unvested restricted shares |
(37)
|
(23)
|
(80)
|
(53)
|
| Net income (loss) available to common stockholders of Farmland Partners Inc. |
$ 772
|
$ (38)
|
$ (1,775)
|
$ (1,817)
|
| Basic and diluted per common share data: |
|
|
|
|
| Basic net income (loss) available to common stockholders |
$ 0.02
|
$ 0.00
|
$ (0.06)
|
$ (0.15)
|
| Diluted net income (loss) available to common stockholders |
$ 0.02
|
$ 0.00
|
$ (0.06)
|
$ (0.15)
|
| Basic weighted average common shares outstanding (in shares) |
32,457
|
12,452
|
29,594
|
12,146
|
| Diluted weighted average common shares outstanding (in shares) |
32,457
|
12,452
|
29,594
|
12,146
|
| Dividends declared per common share |
$ 0.1275
|
$ 0.1275
|
$ 0.2550
|
$ 0.2550
|
| Redeemable OP units |
|
|
|
|
| OTHER (INCOME) EXPENSE: |
|
|
|
|
| Distributions on redeemable non-controlling interests in operating partnership |
|
|
|
$ (113)
|
| Redeemable Preferred OP Units |
|
|
|
|
| OTHER (INCOME) EXPENSE: |
|
|
|
|
| Distributions on redeemable non-controlling interests in operating partnership |
$ (878)
|
$ (887)
|
$ (1,755)
|
$ (1,170)
|