Farmland Partners (FPI) value opportunity or catching a falling knife?
I like the idea of farming REITs and I currently hold Gladstone Land Corporation (LAND) which invests in land used for specialty crops. I've been looking at adding Farmland Partners (FPI) to my portfolio because it is trading at a 30% discount to its NAV and 35% off its 52 week high. FPI also recently invested $110M into specialty crops in California, which should soon contribute results. However, the market seems very skeptical. I've heard Preston and Stig use the term "catching a falling knife" and I wonder if FPI fits that description, or if it is a good value opportunity? Any thoughts on the company's intrinsic value?