Stockholders' Equity and Non-controlling Interests (Tables)

9 Months Ended

Sep. 30, 2019

Stockholders’ Equity and Non-controlling Interests

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

	Series A Preferred Units
($ in thousands)	Redeemable Preferred units	Redeemable non-controlling interests
Balance at December 31, 2017	117	$	120,510
Distribution paid to non-controlling interest	—		(3,510)
Accrued distributions to non-controlling interest	—		2,633
Balance at September 30, 2018	117	$	119,633
Balance at December 31, 2018	117	$	120,510
Distribution paid to non-controlling interest	—		(3,510)
Accrued distributions to non-controlling interest	—		2,633
Balance at September 30, 2019	117	$	119,633

Schedule of declaration and payment of distribution

Fiscal Year	Declaration Date	Record Date	Payment Date	Distributions per Common Share/OP unit
2019	August 6, 2019	October 1, 2019	October 15, 2019	$	0.0500
	May 8, 2019	July 1, 2019	July 15, 2019		0.0500
	February 7, 2019	April 1, 2019	April 15, 2019		0.0500
				$	0.1500
2018	November 5, 2018	January 1, 2019	January 15, 2019	$	0.0500
	August 8, 2018	October 1, 2018	October 15, 2018		0.0500
	May 1, 2018	July 2, 2018	July 16, 2018		0.1275
	February 13, 2018	April 2, 2018	April 16, 2018		0.1275
				$	0.3550

Summary of non-vested shares

		Weighted
	Number of	average grant
(shares in thousands)	shares	date fair value
Unvested at December 31, 2018	299	$	9.49
Granted	224		6.06
Vested	(167)		8.08
Forfeited	(6)		7.19
Unvested at September 30, 2019	350	$	7.64

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)	2019		2018		2019		2018
Numerator:
Net income (loss) attributable to Farmland Partners Inc.	$	(1,364)	$	3,639	$	4,695	$	4,941
Less:  Nonforfeitable distributions allocated to unvested restricted shares		(18)		(15)		(60)		(99)
Less:  Distributions on redeemable non-controlling interests in Operating Partnership, preferred		(3,117)		(3,140)		(9,368)		(9,423)
Net loss attributable to common stockholders	$	(4,499)	$	484	$	(4,733)	$	(4,581)
Denominator:
Weighted-average number of common shares - basic		29,497		32,222		30,319		32,590
Conversion of preferred units(1)		—		—		—		—
Unvested restricted shares(1)		—		—		—		—
Redeemable non-controlling interest(1)		—		—		—		—
Weighted-average number of common shares - diluted		29,497		32,222		30,319		32,590
Loss per share attributable to common stockholders - basic	$	(0.15)	$	0.02	$	(0.16)	$	(0.14)

(1) Anti-dilutive for the three and nine months ended September 30, 2019 and 2018.

Schedule of equity awards and units outstanding

	September 30, 2019	December 31, 2018
Shares	29,726	30,295
Common Units	1,904	4,582
Unvested Restricted Stock Awards	350	299
	31,980	35,176