Farmland Partners Review

Farmland Partners Review 2026: The Only Public Farmland REIT Offers Liquidity That Private Platforms Cannot Match

Last verified: 2026-04-12 | Overall rating: 3.8/5

The 30-Second Verdict

Farmland Partners (NYSE: FPI) is the only publicly traded REIT focused primarily on row crop farmland. With ~125,200 acres across 15+ states, a 3.2% dividend yield, and daily liquidity through the stock market, it solves the biggest problem in farmland investing: getting your money out. The 5-year return of 14.25% is strong, though the recent 1-year return of -3.78% reflects stock price volatility that direct farmland ownership would not produce. No accreditation required, no platform fees, no lock-ups. For most investors wanting farmland exposure, this is the simplest path.

What Is Farmland Partners and How Does It Work?

Farmland Partners is a publicly traded REIT listed on the NYSE under ticker FPI. Founded in 2013 and headquartered in Denver, Colorado, it owns and manages a diversified portfolio of farmland across 15+ states. The company is internally managed, meaning there are no external management fees eating into returns. You buy shares through any standard brokerage account, receive quarterly dividends, and can sell at market price any trading day. It operates as a public REIT regulated by the SEC and NYSE.

Who Is Farmland Partners Best For?

Farmland Partners is best for investors who want farmland exposure with daily liquidity, no accreditation barriers, and no platform fees beyond standard brokerage commissions. It is ideal for retirement accounts (IRAs, 401ks) where you want alternative asset diversification without lock-ups. If you want direct ownership of specific farm properties with potentially higher returns, look at FarmTogether or FarmFundr. If you want zero stock market volatility, this is not the right vehicle -- it is a public equity that trades like one.

Fees

• Management fee: N/A (internally managed REIT)
• Performance fee: N/A
• Advisory fee: N/A
• Trading cost: Standard brokerage commissions (most brokers: $0)

There are no platform-specific fees. Your only cost is whatever your broker charges to trade stocks, which is $0 at most major brokerages. This is the lowest-cost farmland investment option available.

Minimum Investment

No minimum beyond the cost of one share. At recent prices, one share costs approximately the current market price of FPI on the NYSE. Fractional shares may be available through some brokers.

Accreditation Requirements

No accreditation required. Anyone with a brokerage account can buy FPI shares.

Liquidity -- How Do You Get Your Money Out?

Fully liquid. Shares trade daily on the NYSE at market prices. You can buy or sell during regular trading hours with standard T+1 settlement. This is the primary advantage over every private farmland platform.

Historical Returns

• 5-year return: 14.25%
• 10-year return: 4.20%
• Trailing twelve months (TTM): 6.16%
• 1-year return: -3.78%
• Dividend yield: ~3.2% (quarterly distributions)

The company reported $61.5 million net income in 2024, a 94% increase year-over-year. The dividend payout ratio of 348% is high relative to earnings, though it is covered by cash flow.

Any returns referenced are self-reported and not independently verified.

Regulatory and Legal Structure

Farmland Partners is a publicly traded REIT regulated by the SEC and listed on the NYSE. It files quarterly and annual reports (10-Q, 10-K) with the SEC. Full financial transparency through public filings.

Pros

• Publicly traded on NYSE with daily liquidity -- buy and sell shares any trading day
• No accreditation requirements; open to all investors through any brokerage account
• Diversified portfolio across 15+ states with 125,200+ acres
• Internally managed structure eliminates external management fees
• Quarterly dividend distributions with approximately 3.2% yield
• Transparent SEC filings and full public financial disclosure

Cons

• Stock price volatility: 1-year return of -3.78% shows price fluctuations typical of public equities
• Dividend payout ratio of 348% relative to earnings raises sustainability questions (though covered by cash flow)
• Agriculture sector exposed to commodity price swings and weather conditions
• Small-cap REIT with lower analyst coverage than larger REITs
• Recent portfolio restructuring reduced acreage from 141,800 to 71,600 owned acres
• No control over specific farmland assets compared to direct ownership platforms

The Bottom Line

Farmland Partners is the easiest way to add farmland to a portfolio. No accreditation, no lock-ups, no platform fees, and full SEC reporting transparency. The 5-year return of 14.25% with a 3.2% dividend yield is competitive with private farmland platforms that lock up your capital for years.

The trade-off is stock market volatility. The -3.78% one-year return is not a farmland problem -- it is a stock market problem. Farmland values were stable over that period, but FPI's share price was not. If you can tolerate public market swings and want the simplest farmland exposure available, FPI belongs on your shortlist. If you want direct property ownership with potentially smoother returns, private platforms like FarmTogether are the alternative.

ModernAlts may receive compensation if you open an account with platforms reviewed on this site. This does not influence our editorial ratings or analysis. Alternative investments involve risk, including possible loss of principal. Past performance is not indicative of future results. Nothing on this site constitutes investment, legal, or tax advice.