FPI

Farmland Partners Inc

Halal Rating :
Uncomfortable
Last Price $11.0
Market Cap $507.13m
1D Change

-0.14 %

1 Year Change

-0.67 %

Next Earnings Date

Yet to be announced

Company Overview

Farmland Partners owns 155,000 acres in 16 states. Company elected to be taxed as a real estate investment trust, or REIT, for U.S. federal income tax purposes.

Revenue Sources

Pass

Based on the company's SEC filings and financial statements, Farmland Partners Inc. derives its revenue primarily from farmland leases and related agricultural activities. The company's main business activities involve acquiring and leasing farmland for growing crops, which are halal activities. There is no evidence of revenue from prohibited sources such as alcohol, tobacco, gambling, or other haram products and services.

Reliance on Interest

Reporting Date Total Revenue Total Expense Interest Income Interest Expense Interest Income Ratio Interest Expense Ratio

Looking at the financial data for the past four quarters, the company does show interest expenses and income in its financial statements. For Q4 2023, the company reported interest expense of $5,659,000 against total expenses of $5,659,000, which indicates a significant reliance on interest-bearing financing. However, the more recent quarters (Q1-Q3 2024) show zero interest expense and income, suggesting possible improvements in their financing structure or incomplete data.

Given the nature of REITs and their typical financing structures, along with the significant interest expense ratio shown in available data, there are concerns about the company's reliance on interest-based financing.

Operational Ethics

Pass

After reviewing the company's public information, SEC filings, and news sources, there is no evidence of any significant ongoing associations with entities involved in human rights violations. The company's operations are primarily focused in North America, and there are no documented ties to Israel or the Chinese Communist Party.

Rating Justification

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