Q4 2020 Farmland Partners Inc Earnings Call Transcript
Good day, and welcome to the Farmland Partners, Inc. Fourth Quarter and Fiscal Year 2020 Earnings Conference Call. (Operator Instructions) Please note, this event is being recorded.
I would now like to turn the conference over to Mr. Paul Pittman, Chairman and CEO. Please go ahead.
Thank you. Good morning, and welcome to Farmland Partners Fourth Quarter and Fiscal Year 2020 Earnings Conference Call and Webcast.
This is a very exciting time for our company, production agriculture and farmland ownership in particular. After 5 or 6 years of difficult economics for farmers, in late 2020 and early 2021, we have seen increasing farm incomes and associated increasing land values. This improved outlook has led to substantial improvement in the stock price, the key strength of farmland as an asset class with its ability to hold value in downturns, accompanied by meaningful appreciation over multiyear holding periods.
2020 AFFO and revenue were disappointing,
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