Stockholders' Equity and Non-controlling Interests (Tables)

3 Months Ended

Mar. 31, 2020

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, 2018	117	$	120,510
Distribution paid to non-controlling interest	—		(3,510)
Accrued distributions to non-controlling interest	—		878
Balance at March 31, 2019	117	$	117,878
Balance at December 31, 2019	117	$	120,510
Distribution paid to non-controlling interest	—		(3,510)
Accrued distributions to non-controlling interest	—		878
Balance at March 31, 2020	117	$	117,878

Schedule of declaration and payment of distribution

Fiscal Year	Declaration Date	Record Date	Payment Date	Distributions per Common Share/OP unit
2020	March 11, 2020	April 1, 2020	April 15, 2020	$	0.0500
				$	0.0500
2019	November 11, 2019	January 1, 2020	January 15, 2020	$	0.0500
	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
				$	0.2000

Summary of non-vested shares

		Weighted
	Number of	average grant
(shares in thousands)	shares	date fair value
Unvested at December 31, 2019	345	$	7.42
Granted	139		6.23
Vested	(163)		8.22
Forfeited	—		—
Unvested at March 31, 2020	321	$	6.49

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

	For the three months ended
	March 31,
(in thousands, except per share amounts)	2020		2019
Numerator:
Net income (loss) attributable to Farmland Partners Inc.	$	394	$	8
Less:  Nonforfeitable distributions allocated to unvested restricted shares		(16)		(21)
Less:  Distributions on redeemable non-controlling interests in Operating Partnership, preferred		(3,115)		(3,127)
Net loss attributable to common stockholders	$	(2,737)	$	(3,140)
Denominator:
Weighted-average number of common shares - basic		29,545		30,791
Conversion of preferred units(1)		—		—
Unvested restricted shares(1)		—		—
Redeemable non-controlling interest(1)		—		—
Weighted-average number of common shares - diluted		29,545		30,791
Loss per share attributable to common stockholders - basic	$	(0.09)	$	(0.10)

(1) Anti-dilutive for the three months ended March 31, 2020 and 2019.

Schedule of equity awards and units outstanding

	March 31, 2020	December 31, 2019
Shares	29,545	29,607
OP Units	1,904	1,904
Unvested Restricted Stock Awards	321	345
	31,770	31,856