Stockholders' Equity and Non-controlling Interests (Tables)

3 Months Ended

Mar. 31, 2017

Stockholders' Equity and Non-Controlling Interests

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

	Common			Preferred
($ in thousands)	Redeemable OP units	Redeemable non-controlling interests		Redeemable Preferred units	Redeemable non-controlling interests
Balance at December 31, 2015	884	$	9,695	—	$	—
Issuance of redeemable OP units as partial consideration for real estate acquisition	—		—	117		117,000
Net income attributable to non-controlling interest	—		(101)	—		—
Accrued distributions to non-controlling interest	—		(113)	—		283
Adjustment to arrive at redemption value of non-controlling interests in Operating Partnership, common units	—		38	—		—
Balance at March 31, 2016	884	$	9,519	117	$	117,283
Balance at December 31, 2016	—	$	—	117	$	119,915
Distributions paid to non-controlling interest	—		—	—		(2,915)
Accrued distributions to non-controlling interest	—		—	—		878
Balance at March 31, 2017	—	$	—	117	$	117,878

Schedule of declaration and payment of distribution

The Company’s board of directors declared and paid the following distributions to common stockholders and holders of OP units for the three months ended March 31, 2017 and the year ended December 31, 2016:

Fiscal Year	Declaration Date	Record Date	Payment Date	Distributions per Common Share/OP unit
2017	February 22, 2017	April 1, 2017	April 14, 2017	$	0.1275
2016	March 8, 2016	April 1, 2016	April 15, 2016	$	0.1275
	May 9, 2016	July 1, 2016	July 15, 2016		0.1275
	August 3, 2016	September 30, 2016	October 14, 2016		0.1275
	November 3, 2016	January 2, 2016	January 13, 2016		0.1275
				$	0.5100

Summary of non-vested shares

		Weighted
	Number of	average grant
(shares in thousands)	shares	date fair value
Unvested at December 31, 2016	189	$	11.98
Granted	187		11.34
Vested	(34)		10.71
Forfeited	—		—
Unvested at March 31, 2017	342	$	11.75

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

	For the three months ended
	March 31,
(in thousands except per share amounts)	2017		2016
Numerator:
Net loss attributable to Farmland Partners Inc.	$	(1,626)	$	(1,354)
Less:  Nonforfeitable distributions allocated to unvested restricted shares		(43)		(30)
Less:  Distributions on redeemable non-controlling interests in Operating Partnership, common		—		(113)
Less:  Distributions on redeemable non-controlling interests in Operating Partnership, preferred		(878)		(283)
Net income (loss) attributable to common stockholders	$	(2,547)	$	(1,780)
Denominator:
Weighted-average number of common shares - basic		26,699		11,834
Conversion of preferred units(1)		—		—
Unvested restricted shares(1)		—		—
Redeemable non-controlling interest(1)		—		—
Weighted-average number of common shares - diluted		26,699		11,834
Loss per share attributable to common stockholders - basic	$	(0.10)	$	(0.15)

(1) Anti-dilutive for the three months ended March 31, 2017 and 2016.

Schedule of equity awards and units outstanding

	March 31, 2017	December 31, 2016
Shares	32,106	17,163
OP Units	6,702	5,692
Unvested RSAs	342	188
	39,150	23,043