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Stockholders' Equity and Non-controlling Interests (Tables)

12 Months Ended

Dec. 31, 2025

Stockholders' Equity and Non-controlling Interests

Schedule of changes in redeemable non-controlling interest in operating partnership

​

​	​	​	​	​	​	​
​	​	​	Series A Preferred Units
​	​	​	Redeemable	​	Redeemable
​	​	​	Preferred	​	non-controlling
(in thousands)	​	​ ​ ​	units	​ ​ ​	interests
Balance at December 31, 2023	​	​	99	​	$	101,970
Distribution paid to non-controlling interest	​	​	—	​	​	(2,970)
Accrued distributions to non-controlling interest	​	​	—	​	​	2,970
Redemption of Series A preferred units	​	​	—	​	​	—
Balance at December 31, 2024	​	​	99	​	$	101,970
​	​	​	​	​	​	​
Balance at December 31, 2024	​	​	99	​	$	101,970
Distribution paid to non-controlling interest	​	​	—	​	​	(2,970)
Accrued distributions to non-controlling interest	​	​	—	​	​	2,583
Redemption of Series A preferred units	​	​	(31)	​	​	(31,000)
Balance at December 31, 2025	​	​	68	​	$	70,583

Schedule of declaration and payment of distribution

​

​	​	​	​	​	​	​	​	​	​
Fiscal Year	​ ​ ​	Declaration Date	​ ​ ​	Record Date	​ ​ ​	Payment Date	​ ​ ​	Distributions per Common Share/OP unit
2025	​	December 13, 2024	​	December 23, 2024	​	January 8, 2025	​	$	1.1500
​	​	October 29, 2024	​	January 2, 2025	​	January 15, 2025	​	$	0.0600
​	​	February 18, 2025	​	April 1, 2025	​	April 15, 2025	​	$	0.0600
​	​	May 6, 2025	​	July 1, 2025	​	July 15, 2025	​	$	0.0600
​	​	July 22, 2025	​	October 1, 2025	​	October 15, 2025	​	$	0.0600
​	​	​	​	​	​	​	​	$	1.3900
​	​	​	​	​	​	​	​	​	​
2024	​	December 12, 2023	​	December 29, 2023	​	January 12, 2024	​	$	0.2100
​	​	October 24, 2023	​	January 2, 2024	​	January 16, 2024	​	$	0.0600
​	​	February 27, 2024	​	April 1, 2024	​	April 15, 2024	​	$	0.0600
​	​	April 29, 2024	​	July 1, 2024	​	July 15, 2024	​	$	0.0600
​	​	July 23, 2024	​	October 1, 2024	​	October 15, 2024	​	$	0.0600
​	​	​	​	​	​	​	​	$	0.4500

Summary of non-vested shares

​

​	​	​	​	​	​	​	​	​	​	​	​
​	​	​	Time-based				​	Performance-based
​	​	​	​	​	Weighted		​	​	​	Weighted
​	​	​	Number of	​	average grant		​	Number of	​	average grant
(shares in thousands)	​	​ ​ ​	shares	​ ​ ​	date fair value		​ ​ ​	shares	​ ​ ​	date fair value
Unvested at December 31, 2023	​		347	​	$	11.15		—	​	$	—
Granted	​		183	​	​	11.26		39	​	​	7.36
Vested	​		(202)	​	​	11.25		—	​	​	—
Forfeited	​		—	​	​	—		—	​	​	—
Unvested at December 31, 2024	​		328	​	$	11.15		39	​	$	7.36
​	​	​	​	​	​	​	​	​	​	​	​
Unvested at December 31, 2024	​		328	​	$	11.15		39	​	$	7.36
Granted	​		146	​	​	11.67		28	​	​	7.71
Vested	​		(172)	​	​	11.17		—	​	​	—
Forfeited	​		—	​	​	—		—	​	​	—
Unvested at December 31, 2025	​		302	​	$	11.38		67	​	$	7.51

Schedule of computation of basic and diluted earnings (loss) per share

​

​	​	​	​	​	​	​
​	​	For the years ended
​	​	December 31,
(in thousands, except per share amounts)	​ ​ ​	2025		​ ​ ​	2024
Numerator for net income per share - basic:	​	​	​	​	​	​
Net income available to common stockholders of Farmland Partners Inc.	​	$	28,797	​	$	56,428
​	​	​	​	​	​	​
Numerator for net income per share - diluted:	​	​	​	​	​	​
Net income available to common stockholders of Farmland Partners Inc.	​	$	28,797	​	$	56,428
Dividend equivalent rights allocated to performance-based unvested restricted shares	​	​	—	​	​	—
Nonforfeitable distributions allocated to time-based unvested restricted shares	​	​	—	​	​	—
Distributions on Series A preferred units	​	​	2,583	​	​	2,970
Numerator for net income per share - diluted:	​	$	31,380	​	$	59,398
​	​	​	​	​	​	​
Denominator:	​	​	​	​	​	​
Weighted-average number of common shares - basic	​	​	44,196	​	​	47,546
Unvested time-based restricted shares	​	​	—	​		—
Unvested performance-based restricted shares	​	​	—	​		—
Redeemable non-controlling interest	​		7,059	​		8,441
Weighted-average number of common shares - diluted (1)	​		51,255	​		55,987
​	​	​	​	​	​	​
Income per share attributable to common stockholders - basic	​	$	0.65	​	$	1.19
Income per share attributable to common stockholders - diluted	​	$	0.61	​	$	1.06

(1) The limited partners’ outstanding Common units, or the non-controlling interests, (which may be redeemed for shares of common stock) have not been included in the diluted earnings per share calculation as there would be no effect on the amounts since the limited partners’ share of income would also be added back to net income, therefore increasing both net income and shares. The weighted average number of Common units held by the non-controlling interest was 1.0 million and 1.2 million for the years ended December 31, 2025 and 2024, respectively.

Schedule of equity awards and units outstanding

​

​	​	​	​	​	​	​
​	​	​ ​ ​	December 31,	​		December 31,
​	​	​	2025	​	​	2024
Shares	​	​	42,791	​	​	45,604
Common Units	​	​	749	​	​	1,203
Unvested Restricted Stock Awards	​	​	302	​	​	328
​	​	​	43,842	​	​	47,135

​

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