Stockholders' Equity and Non-controlling Interests (Tables)

9 Months Ended

Sep. 30, 2017

Stockholders' Equity and Non-Controlling Interests

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

	Common			Series A Preferred Units
($ in thousands)	Redeemable Common units	Redeemable non-controlling interests		Redeemable Preferred units	Redeemable non-controlling interests
Balance at December 31, 2015	884	$	9,695	—	$	—
Issuance of redeemable Common units as partial consideration for real estate acquisition	—		—	117		117,000
Net loss attributable to non-controlling interest	—		(64)	—		—
Accrued distributions to non-controlling interest	—		(113)	—		2,057
Redemption of Common units for Common stock	(884)		(9,518)
Balance at September 30, 2016	—	$	—	117	$	119,057
Balance at December 31, 2016	—	$	—	117	$	119,915
Distributions paid to non-controlling interest	—		—	—		(2,915)
Accrued distributions to non-controlling interest	—		—	—		2,633
Redemption of Common units for common stock	—		—	—		—
Balance at September 30, 2017	—	$	—	117	$	119,633

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 Common units for the nine months ended September 30, 2017 and the year ended December 31, 2016:

Fiscal Year	Declaration Date	Record Date	Payment Date	Distributions per Common Share/OP unit
2017	July 19, 2017	October 2, 2017	October 13, 2017		0.1275
	May 9, 2017	June 30, 2017	July 14, 2017	$	0.1275
	February 22, 2017	April 1, 2017	April 14, 2017		0.1275
				$	0.3825
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, 2017	January 13, 2017		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, 2015	145	$	13.87
Granted	119		10.78
Vested	(70)		13.96
Forfeited	(5)		11.09
Unvested at September 30, 2016	189		11.97
Unvested at December 31, 2016	189		11.98
Granted	205		11.30
Vested	(108)		12.84
Forfeited	(7)		10.97
Unvested at September 30, 2017	279	$	11.16

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

	For the three months ended				For the nine months ended
	September 30,				September 30,
(in thousands except per share amounts)	2017		2016		2017		2016
Numerator:
Net profit (loss) attributable to Farmland Partners Inc.	$	2,216	$	70	$	2,277	$	(412)
Less:  Nonforfeitable distributions allocated to unvested restricted shares		(36)		(24)		(116)		(72)
Less:  Distributions on redeemable non-controlling interests in Operating Partnership, Common units		—		—		—		(113)
Less:  Distributions on redeemable non-controlling interests in Operating Partnership, Series A preferred units		(877)		(887)		(2,632)		(2,057)
Less:  Dividends on Series B Participating Preferred Stock		(1,082)		—		(1,082)		—
Net income (loss) attributable to common stockholders	$	221	$	(841)	$	(1,553)	$	(2,654)
Denominator:
Weighted-average number of common shares - basic		32,862		13,683		30,695		12,663
Conversion of Series A preferred units(1)		—		—		—		—
Conversion of Series B Participating Preferred Stock (1)		—		—		—		—
Unvested restricted shares(1)		—		—		—		—
Weighted-average number of common shares - diluted		32,862		13,683		30,695		12,663
Earnings (Loss) per share attributable to common stockholders - basic	$	0.01	$	(0.06)	$	(0.05)	$	(0.21)
Earnings (Loss) per share attributable to common stockholders - diluted	$	0.01	$	(0.06)	$	(0.05)	$	(0.21)

(1) Anti-dilutive for the three and nine months ended September 30, 2017 and 2016.

Schedule of equity awards and units outstanding

	September 30, 2017	December 31, 2016
Shares	32,353	17,163
Common units	5,724	5,692
Unvested restricted stock	279	188
	38,356	23,043