Gladstone Land Corporation (LAND)

Gladstone Land Announces First Quarter 2026 ResultsMay 11, 2026 4:10 PM
ACCESS NewswirePlease note that the limited information that follows in this press release is a summary and is not adequate for making an informed investment decision.MCLEAN, VA / ACCESS Newswire / May 11, 2026 / Gladstone Land Corporation (Nasdaq:LAND) ("Gladstone Land" or the "Company") today reported financial results for the first quarter ended March 31, 2026. A description of funds from operations ("FFO"), core FFO ("CFFO"), and adjusted FFO ("AFFO"), all non-GAAP (generally accepted accounting principles in the United States) financial measures, appear at the end of this press release. All per-share references are to fully-diluted, weighted-average shares of common stock, unless noted otherwise. For further detail, please refer to the Quarterly Report on Form 10-Q (the "Form 10-Q"), which is available on the Investors section of the Company's website at www.GladstoneLand.com.First Quarter 2026 Activity:Timing Shift in Earnings Recognition: For the 2026 crop year, three of our farms remain under modified lease agreements that include reduced or eliminated fixed base rent and, in some cases, provide cash lease incentives to tenants in exchange for significantly higher participation rent components. We also continue to operate two properties (consisting of four farms) under management agreements with third-party operators. Collectively, these properties are referred to as our "Repositioned Farms," reflecting a temporary shift toward greater participation-based revenues. These arrangements result in a shift in the timing of revenue recognition and increase our reliance on participation rents, which are generally recognized once crop results are known, typically in the fourth quarter. Consequently, consistent with 2025, a substantial majority of our 2026 revenue and earnings is expected to be recognized in the fourth quarter.Portfolio Activity:Participation Rents: Recorded approximately $4.9 million of participation rent revenue, compared to approximately $465,000 in the prior-year quarter, primarily due to a partial early bonus payment received from one of our processors related to the 2025 pistachio crop (the "Early 2025 Pistachio Bonus Payment") on certain of our Repositioned Farms. Typically, this bonus payment would be received in late 2026 or early 2027; however, a portion was received early, with the remaining portion still expected to be paid on the normal schedule.Crop Sales: Recorded net income from crop sales on direct-operated farms of approximately $1.9 million, primarily driven by the Early 2025 Pistachio Bonus Payment.Debt Activity:Redemption of Series D Term Preferred Stock: Redeemed all outstanding shares of our 5.00% Series D Cumulative Term Preferred Stock (the "Series D Term Preferred Stock") for approximately $60.6 million, including accrued dividends.Interest Patronage: Recorded approximately $1.4 million of interest patronage, or refunded interest, related to our 2025 borrowings from various Farm Credit associations. Total 2025 interest patronage resulted in a 21.0% reduction (approximately 95 basis points) to the interest rate on such borrowings.Equity Activity:Common Stock- ATM Program: Sold 3,744,263 shares of our common stock for net proceeds of approximately $36.7 million under our "at-the-market" sales program (the "ATM Program").Repurchase Program: Repurchased a total of 123,897 shares of our 6.00% Series B Cumulative Redeemable Preferred Stock (the "Series B Preferred Stock") and our 6.00% Series C Cumulative Redeemable Preferred Stock (the "Series C Preferred Stock") at an average repurchase price of $19.92 per share for a total gain on repurchase of approximately $325,000.Paid Distributions: Paid monthly cash distributions totaling $0.1401 per share of common stock during the quarter ended March 31, 2026.First Quarter 2026 Results:Net loss for the quarter was approximately $4.3 million, compared to net income of approximately $15.1 million in the prior-year quarter. Net loss attributable to common stockholders during the quarter was approximately $10.0 million, or $0.24 per share, compared to net income attributable to common stockholders of approximately $9.1 million, or $0.25 per share, in the prior-year quarter. AFFO for the quarter was approximately $3.1 million, or $0.08 per share, compared to approximately $2.0 million, or $0.06 per share, in the prior-year quarter. Common stock dividends declared were approximately $0.14 per share for both periods.Total cash lease revenues decreased by approximately $351,000, primarily due to a $2.4 million reduction in fixed base cash rents resulting from lost revenues associated with farms sold over the past year and farms that were either placed on non-accrual status, transitioned to direct operations, or remain vacant, as well as a termination fee of approximately $2.4 million recorded during the prior-year period. These decreases were largely offset by an increase in participation rent of approximately $4.4 million, primarily attributable to receipt of the Early 2025 Pistachio Bonus Payment.In connection with our direct farming operations, during the current quarter, we recorded approximately $1.9 million of net income from crop sales, primarily attributable to the Early 2025 Pistachio Bonus Payment. The related growing costs for the 2025 crop were previously recognized during the three months ended December 31, 2025. We expect to recognize additional revenue from the 2025 pistachio harvest as remaining marketing bonus payments are settled later in 2026.Aggregate related-party fees decreased by approximately $35,000 during the current quarter, primarily due to a lower base management fee as a result of property sales over the past year. Excluding related-party fees, recurring cash operating expenses increased by approximately $786,000, driven by higher property operating expenses, including additional costs incurred to provide supplemental water to one of our properties in accordance with its lease, as well as higher legal expenses related to protecting water rights on certain farms in California. General and administrative expenses increased by approximately $101,000 due to higher professional fees. Interest expense also declined as a result of debt repayments made over the past year, as well as the redemption of our Series D Term Preferred Stock on January 30, 2026.Cash flows from operations for the current quarter increased by approximately $4.8 million compared to the prior-year quarter, primarily due to higher cash receipts from participation rents and crop sales, partially offset by the receipt of a termination fee in the prior-year period, as noted above.Subsequent to March 31, 2026:Debt Activity-New Farm Credit Facility: Entered into a new revolving line of credit with Farm Credit of Central Florida, ACA, that provides for borrowings of up to $37.0 million (the "Farm Credit Facility"). The Farm Credit Facility matures on April 1, 2030, and borrowings thereunder bear interest at a variable rate equal to the prime rate less 0.50%, prior to the effect of any interest patronage.Equity Activity:Registration Statement: Filed a new registration statement (which the SEC declared effective on April 23, 2026), permitting us to issue up to an aggregate of $1.0 billion of securities over the next three years.Common Stock- ATM Program: Sold 1,377,392 shares of our common stock for net proceeds of approximately $14.1 million.Repurchase Program: Repurchased a total of 171,283 shares of our Series B Preferred Stock and Series C Preferred Stock at an average repurchase price of $20.53 per share for a total gain on repurchase of approximately $346,000.Second Quarter Distributions: Declared monthly cash distributions of $0.0467 per share of common stock for each of April, May, and June (totaling $0.1401 per share of common stock for the quarter).Comments from David Gladstone, President and CEO of Gladstone Land: "We had a successful 2025 harvest on the farms where we oversee the growing operations, although the full financial impact has not yet been reflected in our results, as a significant portion of the revenue from the 2025 pistachio harvest is expected to be recognized later in 2026 following the completion of the marketing period. Market trends for pistachios and almonds, our two primary nut crop exposures on our Repositioned Farms, remain favorable, with strong demand and stable-to-improved year-over-year pricing for both crops. We view the recent lease modifications as temporary and continue to target a return to more traditional lease structures that include fixed base rents. In the meantime, we remain focused on enhancing the long-term viability of our farms by pursuing opportunities to acquire additional water resources at below-market prices, further strengthening water security for our farms and growers. Our balance sheet remains in excellent condition, with nearly 100% of our outstanding debt at fixed interest rates. We also continue to maintain strong liquidity, including over $145 million in immediately available capital and more than $110 million in unencumbered properties that could be pledged as additional collateral, if needed."Quarterly Summary Information
(Dollars in thousands, except per-share amounts) For and As of the Quarters Ended Change Change 3/31/2026 3/31/2025 ($ / #) (%) Operating Data: Total operating revenues $16,552 $16,804 $(252) (1.5)%Total operating expenses (16,601) (13,127) (3,474) 26.5%Other (expense) income, net (4,256) 11,431 (15,687) (137.2)%Net (loss) income $(4,305) $15,108 $(19,413) (128.5)%Less: Aggregate dividends declared on and gains on or charges related to extinguishment of cumulative redeemable preferred stock, net(1) (5,680) (6,002) 322 (5.4)%Net (loss) income attributable to common stockholders (9,985) 9,106 (19,091) (209.7)%Plus: Real estate and intangible depreciation and amortization 10,370 8,429 1,941 23.0%Plus (less): Losses (gains) on dispositions of real estate assets, net 459 (15,410) 15,869 (103.0)%Plus: Impairment charges 884 - 884 -%Adjustments for unconsolidated entities(2) 59 14 45 321.4%FFO available to common stockholders 1,787 2,139 (352) (16.5)%Plus: Acquisition- and disposition-related expenses, net 30 21 9 42.9%Plus: Other nonrecurring charges, net(3) 126 173 (47) (27.2)%CFFO available to common stockholders 1,943 2,333 (390) (16.7)%Net adjustment for normalized cash rents(4) 1,196 (792) 1,988 (251.0)%Plus: Amortization of debt issuance costs 149 365 (216) (59.2)%(Less) plus: Other non-cash (receipts) charges, net(5) (184) 129 (313) (242.6)%AFFO available to common stockholders $3,104 $2,035 $1,069 52.5% Share and Per-Share Data: Weighted-average shares of common stock outstanding, fully diluted 40,856,330 36,184,658 4,671,672 12.9% Diluted net (loss) income per weighted-average common share $(0.244) $0.252 $(0.496) (197.1)%Diluted FFO per weighted-average common share $0.044 $0.059 $(0.015) (26.0)%Diluted CFFO per weighted-average common share $0.048 $0.064 $(0.017) (26.2)%Diluted AFFO per weighted-average common share $0.076 $0.056 $0.020 35.1%Cash distributions declared per common share $0.140 $0.140 $0.000 -% Balance Sheet Data: Net investments in real estate and related assets, at cost(6) $1,143,781 $1,204,803 $(61,022) (5.1)%Total assets $1,203,712 $1,281,736 $(78,024) (6.1)%Total indebtedness(7) $486,030 $561,339 $(75,309) (13.4)%Total equity $688,325 $698,878 $(10,553) (1.5)%Total common shares outstanding (fully diluted) 41,759,181 36,184,658 5,574,523 15.4% Other Data: Cash flows from operations $9,295 $4,467 $4,828 108.1%Farms owned 144 150 (6) (4.0)%Acres owned 98,688 103,001 (4,313) (4.2)%Occupancy rate(8) 94.9% 95.9% (1.0)% (1.0)%Acre-feet of water assets owned 55,649 55,350 299 0.5%(1) Includes cash dividends paid on our cumulative redeemable preferred stock and the net gain (loss) recognized as a result of shares of cumulative redeemable preferred stock that were redeemed.
(2) Represents our pro-rata share of depreciation expense recorded in unconsolidated entities.
(3) Consists primarily of (i) net property and casualty losses (recoveries) recorded and the cost of related repairs expensed as a result of damage to improvements on certain of our farms caused by certain non-recurring events, (ii) one-time legal costs incurred related to certain corporate organizational matters, (iii) costs incurred during the three months ended March 31, 2026, related to the redemption of our Series D Term Preferred Stock, and (iv) for 2025 only, the capital gains fee recorded during the three months ended March 31, 2025.
(4) This adjustment removes the effects of straight-lining rental income, as well as the amortization related to above-market lease values and certain non-cash lease incentives and accretion related to below-market lease values, deferred revenue, and tenant improvements, resulting in rental income reflected on a modified accrual cash basis. The effect to AFFO is that cash rents received pertaining to a lease year are normalized over that respective lease year on a straight-line basis, resulting in cash rent being recognized ratably over the period in which the cash rent is earned.
(5) Consists of (i) the net (gain) loss recognized as a result of shares of cumulative redeemable preferred stock that were redeemed, which were non-cash (gains) charges, (ii) our remaining pro-rata share of (income) loss recorded from investments in unconsolidated entities, and (iii) (less) plus net non-cash (income) expense recorded as a result of additional water assets (received) used in certain transactions.
(6) Consists of the initial acquisition price (including the costs allocated to both tangible and intangible assets acquired and liabilities assumed), plus subsequent improvements and other capitalized costs associated with the properties, and adjusted for accumulated depreciation and amortization and impairment charges, if any.
(7) Consists of the principal balances outstanding on all indebtedness, including our lines of credit, notes and bonds payable, and, as of March 31, 2025, only, our Series D Term Preferred Stock, which was redeemed in full on January 30, 2026.
(8) Based on farmable acreage; includes direct-operated farms.Conference Call for Stockholders: The Company will hold a conference call on Tuesday, May 12, 2026, at 8:30 a.m. (Eastern Time) to discuss its earnings results. Please call (877) 407-9046 to join the conference call. An operator will monitor the call and set a queue for any questions. A conference call replay will be available after the call and will be accessible through May 19, 2026. To hear the replay, please dial (877) 660-6853, and use playback conference number 13759087. The live audio broadcast of the Company's conference call will also be available online on the Investors section of the Company's website, www.GladstoneLand.com.About Gladstone Land Corporation:Founded in 1997, Gladstone Land is a publicly traded real estate investment trust that owns farmland and farm-related properties located in major agricultural markets in the U.S. The Company currently owns 144 farms, comprised of approximately 99,000 acres in 14 different states and nearly 56,000 acre-feet (or over 18.1 billion gallons) of water assets in California. Gladstone Land's farms are predominantly located in regions where its tenants are able to grow fresh produce annual row crops, such as berries and vegetables, which are generally planted and harvested annually. The Company also owns farms growing permanent crops, such as almonds, blueberries, figs, olives, pistachios, and wine grapes, which are generally planted every 20-plus years and harvested annually. Gladstone Land pays monthly distributions to its stockholders and has paid 159 consecutive monthly cash distributions on its common stock since its initial public offering in January 2013. The current per-share distribution on its common stock is $0.0467 per month, or $0.5604 per year. Additional information, including detailed information about each of the Company's farms, can be found at www.GladstoneLand.com.Owners or brokers who have farmland for sale in the U.S. or those looking to buy farms should contact:Western U.S. - Bill Reiman at (805) 263-4778 or Bill.R@GladstoneLand.com;Midwestern U.S. and Mid-Atlantic U.S. - Joey Van Wingerden at (703) 287-5914 or Joe.V@GladstoneLand.com; orSoutheastern U.S. - Brett Smith at (904) 687-5284 or Brett.S@GladstoneLand.com.Lenders who are interested in providing us with long-term financing on farmland should contact Jay Beckhorn at (703) 587-5823 or Jay.Beckhorn@Gladstone.com.For stockholder information on Gladstone Land, call (703) 287-5893. For Investor Relations inquiries related to any of the monthly dividend-paying Gladstone funds, please visit www.GladstoneCompanies.com.Non-GAAP Financial Measures:FFO: The National Association of Real Estate Investment Trusts ("NAREIT") developed FFO as a relative non-GAAP supplemental measure of operating performance of an equity REIT in order to recognize that income-producing real estate historically has not depreciated on the basis determined under GAAP. FFO, as defined by NAREIT, is net income (computed in accordance with GAAP), excluding gains (or losses) from sales of property and impairment losses on property, plus depreciation and amortization of real estate assets, and after adjustments for unconsolidated partnerships and joint ventures. The Company believes that FFO per share provides investors with an additional context for evaluating its financial performance and as a supplemental measure to compare it to other REITs; however, comparisons of its FFO to the FFO of other REITs may not necessarily be meaningful due to potential differences in the application of the NAREIT definition used by such other REITs.CFFO: CFFO is FFO, adjusted for items that are not indicative of the results provided by the Company's operating portfolio and affect the comparability of the Company's period-over-period performance. These items include certain non-recurring items, such as acquisition- and disposition-related expenses, the net incremental impact of operations conducted through our taxable REIT subsidiary, income tax provisions, and property and casualty losses or recoveries. Although the Company's calculation of CFFO differs from NAREIT's definition of FFO and may not be comparable to that of other REITs, the Company believes it is a meaningful supplemental measure of its sustainable operating performance. Accordingly, CFFO should be considered a supplement to net income computed in accordance with GAAP as a measure of our performance. For a full explanation of the adjustments made to arrive at CFFO, please read the Form 10-Q, filed today with the SEC.AFFO: AFFO is CFFO, adjusted for certain non-cash items, such as the straight-lining of rents and amortizations into or against rental income (resulting in cash rent being recognized ratably over the period in which the cash rent is earned). Although the Company's calculation of AFFO differs from NAREIT's definition of FFO and may not be comparable to that of other REITs, the Company believes it is a meaningful supplemental measure of its sustainable operating performance on a cash basis. Accordingly, AFFO should be considered a supplement to net income computed in accordance with GAAP as a measure of our performance. For a full explanation of the adjustments made to arrive at AFFO, please read the Form 10-Q, filed today with the SEC.A reconciliation of FFO (as defined by NAREIT), CFFO, and AFFO (each as defined above) to net income (loss), which the Company believes is the most directly-comparable GAAP measure for each, and a computation of fully-diluted net income (loss), FFO, CFFO, and AFFO per weighted-average share is set forth in the Quarterly Summary Information table above. The Company's presentation of FFO, CFFO, or AFFO, does not represent cash flows from operating activities determined in accordance with GAAP and should not be considered an alternative to net income as an indication of its performance or to cash flow from operations as a measure of liquidity or ability to make distributions.CAUTION CONCERNING FORWARD-LOOKING STATEMENTS:Certain statements in this press release, including, but not limited to, the Company's ability to maintain or grow its portfolio and FFO, expected increases in capitalization rates, benefits from increases in farmland values, increases in operating revenues, and the increase in NAV per share, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements inherently involve certain risks and uncertainties, although they are based on the Company's current plans that are believed to be reasonable as of the date of this press release. Factors that may cause actual results to differ materially from these forward-looking statements include, but are not limited to, the Company's ability to procure financing for investments, downturns in the current economic environment, the performance of its tenants, the impact of competition on its efforts to renew existing leases or re-lease real property, and significant changes in interest rates. Additional factors that could cause actual results to differ materially from those stated or implied by its forward-looking statements are disclosed under the caption "Risk Factors" within the Company's Form 10-K for the fiscal year ended December 31, 2025, as amended, as filed with the SEC on April 7, 2026, and certain other documents filed with the SEC from time to time. The Company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.Gladstone Land Corporation, (703) 287-5893SOURCE: Gladstone Land CorporationView the original press release on ACCESS NewswireOriginal: Gladstone Land Announces First Quarter 2026 Results

Gladstone Land Announces Monthly Cash Distributions for April, May and June 2026 and Earnings Release and Conference Call Dates for the First Quarter Ended March 31, 2026April 14, 2026 4:30 PM
ACCESS NewswireMCLEAN, VA / ACCESS Newswire / April 14, 2026 / Gladstone Land Corporation (Nasdaq:LAND) ("Gladstone Land" or the "Company") announced today that its board of directors declared the following cash distributions for each of April, May and June 2026.Monthly Cash Distributions:Common Stock: $0.0467 per share of common stock for each of April, May and June 2026, payable per the table below:Summary of Common Stock Cash DistributionsRecord DatePayment DateAmountApril 24April 30$ 0.0467May 20May 290.0467June 23June 300.0467Total for the Quarter:$ 0.1401The Company has paid 158 consecutive monthly cash distributions on its common stock since its initial public offering in January 2013. The Company offers a dividend reinvestment plan (the "DRIP") to its common stockholders. For more information regarding the DRIP, please visit www.GladstoneLand.com.Series B Preferred Stock (Nasdaq: LANDO): $0.125 per share of Series B Preferred Stock for each of April, May and June 2026, payable per the table below:Summary of Series B Preferred Stock Cash DistributionsRecord DatePayment DateAmountApril 24April 30$ 0.125May 20May 290.125June 23June 300.125Total for the Quarter:$ 0.375The Company has not skipped, reduced, or deferred a monthly Series B Preferred Stock distribution to date.Series C Preferred Stock (Nasdaq:LANDP): $0.125 per share of Series C Preferred Stock for each of April, May and June 2026, payable per the table below:Summary of Series C Preferred Stock Cash DistributionsRecord DatePayment DateAmountApril 24April 30$ 0.125May 20May 290.125June 23June 300.125Total for the Quarter:$ 0.375The Company has not skipped, reduced, or deferred a monthly Series C Preferred Stock distribution to date.Series E Preferred Stock (Unlisted): $0.104167 per share of Series E Preferred Stock for each of April, May and June 2026, payable per the table below:Summary of Series E Preferred Stock Cash DistributionsRecord DatePayment DateAmountApril 27May 5$ 0.104167May 27June 50.104167June 25July 20.104167Total for the Quarter:$ 0.312501The Company has not skipped, reduced, or deferred a monthly Series E Preferred Stock distribution to date.Earnings Announcement:The Company also announced today that it plans to report earnings for its first quarter ended March 31, 2026, after the stock market closes on Monday, May 11, 2026. The Company will hold a conference call on Tuesday, May 12, 2026, at 8:30 a.m. Eastern Time to discuss its earnings results. Please call (877) 407-9046 to join the conference call. An operator will monitor the call and set a queue for questions.A conference call replay will be available after the call and will be accessible through May 19, 2026. To hear the replay, please dial (877) 660-6853 and use playback conference number 13759087.The live audio broadcast of the Company's conference call will also be available online at www.GladstoneLand.com.About Gladstone Land:Gladstone Land is a publicly-traded real estate investment trust that invests in farmland located in major agricultural markets in the U.S., which it leases to farmers. The Company currently owns 144 farms, comprised of approximately 99,000 acres in 14 different states and over 55,000 acre-feet of water assets in California. Additional information can be found at www.GladstoneLand.com.For stockholder information on Gladstone Land, call (703) 287-5893. For Investor Relations inquiries related to any of the monthly dividend-paying Gladstone funds, please visit www.GladstoneCompanies.com.For further information: Gladstone Land Corporation, (703) 287-5893SOURCE: Gladstone Land CorporationView the original press release on ACCESS NewswireOriginal: Gladstone Land Announces Monthly Cash Distributions for April, May and June 2026 and Earnings Release and Conference Call Dates for the First Quarter Ended March 31, 2026

Gladstone Land Announces Fourth Quarter and Year Ended 2025 ResultsFebruary 24, 2026 4:10 PM
ACCESS NewswirePlease note that the limited information that follows in this press release is a summary and is not adequate for making an informed investment decision.MCLEAN, VA / ACCESS Newswire / February 24, 2026 / Gladstone Land Corporation (Nasdaq:LAND) ("Gladstone Land" or the "Company") today reported financial results for the fourth quarter and year ended December 31, 2025. A description of funds from operations ("FFO"), core FFO ("CFFO"), and adjusted FFO ("AFFO"), all non-GAAP (generally accepted accounting principles in the United States) financial measures, appear at the end of this press release. All per-share references are to fully-diluted, weighted-average shares of common stock, unless noted otherwise. For further detail, please refer to the Annual Report on Form 10-K (the "Form 10-K"), which is available on the Investors section of the Company's website at www.GladstoneLand.com.Highlights for Fiscal Year 2025:Timing Shift in Earnings Recognition: For the 2025 crop year, we modified lease agreements on six of our farms by reducing or eliminating fixed base rent and, in some cases, providing cash lease incentives to tenants in exchange for significantly increasing the participation rent components. We also operated two properties (encompassing four farms) under management agreements with third-party operators. Collectively, these properties are referred to as our "Repositioned Farms," reflecting a temporary shift toward greater participation-based revenues. As a result, fixed base rent revenue was significantly lower throughout the year, while participation rent was considerably higher. This change resulted in a shift in the timing of revenue recognition and increased our reliance on participation rents, which are generally recognized once crop results are known, typically in the fourth quarter. Consequently, the majority of our revenue and annual earnings for 2025 was recognized in the fourth quarter. We expect to follow a similar revenue recognition pattern for 2026.Portfolio Activity:Property Sales: Sold 13 farms totaling 12,502 gross acres for approximately $95.4 million, resulting in an aggregate net gain of approximately $21.3 million.Lease Activity: Executed 14 amended or new lease agreements during the year as follows:On annual row crop farms, we renewed or amended five different leases that are expected to result in an aggregate increase in annual net operating income of approximately $546,000 over the prior leases.On permanent crop farms, we executed nine amended or new leases that are expected to result in an aggregate decrease in annual net operating income of approximately $1.1 million from the prior leases (excluding the impact of participation rents).Participation Rents: Recorded approximately $20.0 million of revenue from participation rents, compared to approximately $9.4 million in the prior year.Crop Sales: Completed our first harvest on a 2,409-acre property, including 2,293 acres of bearing almond and pistachio orchards (encompassing three farms included within the Repositioned Farms noted above). During the fourth quarter, we recorded approximately $12.2 million of revenue from crop sales and approximately $9.6 million of cost of sales, resulting in net income of approximately $2.6 million. We expect to recognize additional revenue related to the 2025 pistachio harvest as the marketing bonuses are settled later in 2026.California Water Activity: Purchased 1,530 gross acre-feet of water at a total cost of approximately $583,000, or approximately $381 per gross acre-foot.Debt Activity:Loan Refinancing: Secured a new $10.6 million loan bearing interest at 6.31% (fixed for three years).Loan Repayments: Repaid $44.2 million of loans that bore interest at a stated rate of 4.68%.Interest Patronage: Recorded approximately $1.7 million of interest patronage, or refunded interest, related to our 2024 borrowings from various Farm Credit associations. Total 2024 interest patronage resulted in a 21.9% reduction (approximately 101 basis points) to the interest rate of such borrowings.Equity Activity-Common Stock- ATM Program: Sold approximately 1.8 million shares of our common stock for net proceeds of approximately $16.9 million under our "at-the-market" program (the "ATM Program").Paid Distributions: Paid monthly cash distributions totaling $0.1401 per share of common stock during the quarter ended December 31, 2025.Fourth Quarter 2025 Results:Net income for the quarter was approximately $4.2 million, compared to approximately $0.5 million in the prior-year quarter. Net loss attributable to common stockholders during the quarter was approximately $1.8 million, or $0.05 per share, compared to approximately $5.5 million, or $0.15 per share, in the prior-year quarter. AFFO for the quarter was approximately $14.4 million, or $0.38 per share, compared to approximately $3.4 million, or $0.09 per share, in the prior-year quarter. Common stock dividends declared were approximately $0.14 per share for both periods.While total cash lease revenues increased for the current quarter, fixed base cash rent revenue decreased by approximately $1.9 million, primarily due to the sale of 13 farms during the year, as well as ongoing vacancy and tenancy challenges. Participation rent increased by approximately $9.3 million, driven mainly by recent modifications to lease agreements on the Repositioned Farms and improved year-over-year pistachio pricing. In addition, we recorded a termination fee of approximately $2.1 million during the current quarter.In connection with our direct farming operations, during the current quarter, we recorded approximately $12.2 million of revenue from crop sales and $9.6 million of costs related to growing, harvesting, and selling those crops, resulting in net income of $2.6 million. We expect to recognize additional revenue related to the 2025 pistachio harvest later in 2026.Aggregate related-party fees increased by approximately $40,000 during the current quarter, primarily due to a higher administration fee. Excluding related-party fees, recurring cash operating expenses increased by approximately $1.6 million, driven by higher property operating expenses, including additional costs incurred to provide supplemental water to one of our properties in accordance with its lease, as well as higher property taxes and insurance costs related to direct-operated properties. General and administrative expenses decreased by approximately $59,000 due to lower professional fees. Interest expense also declined as a result of debt repayments made over the past year.Cash flows from operations for the current quarter decreased by approximately $1.0 million compared to the prior-year quarter, primarily due to lower cash receipts from properties that were vacant, direct-operated, or on non-accrual status for all or a portion of the current year. The decrease also reflects increased cash payments made related to our direct farming operations, a portion of which was recognized in cost of sales as the related crops were harvested and sold, with the remaining portion (costs associated with the 2026 harvest) deferred as crop inventory.Fiscal Year 2025 Results:Net income for the year was approximately $13.5 million, compared to approximately $13.3 million in the prior-year quarter. Net loss attributable to common stockholders during both years was approximately $10.5 million, or $0.29 per share. AFFO for the year was approximately $14.4 million, or $0.39 per share, compared to approximately $16.7 million, or $0.47 per share, in the prior year. Common stock dividends declared were approximately $0.56 per share for both periods.The decrease in AFFO was primarily attributable to lost income from farms sold over the past year, a timing difference with revenue recognition related to our direct farming operations (as a significant portion of revenue related to the 2025 crop is expected to be recognized in 2026), and higher property operating expenses incurred on certain farms, as noted above.The decrease in fixed base cash rents was partially offset by higher participation rents recognized in the current year, net income from our direct farming operations, and lease termination fees recorded from two tenants during the year. Property operating expenses increased due to higher water costs on one farm and incremental costs associated with farms that were vacant, direct-operated, or on non-accrual status. These increases were partially offset by a reduction in related-party fees (reflecting a lower base management fee following property sales over the past year), a decrease in general and administrative expenses (due to reduced professional fees), and lower interest expense (reflecting loan repayments made over the past two years).Cash flows from operations for the current year decreased by approximately $22.6 million from the prior year, primarily due to the timing of cash flows related to our direct-farming operations, as the majority of the revenue will be collected in 2026. The decrease also reflects lower cash receipts resulting from the sale of 13 farms during the year and changes to lease structures related to the Repositioned Farms.Subsequent to December 31, 2025:Redemption of Series D Term Preferred Stock: Redeemed all outstanding shares of our 5.00% Series D Cumulative Term Preferred Stock (the "Series D Term Preferred Stock") for approximately $60.6 million, including accrued dividends. As a result of the redemption, the Series D Term Preferred Stock was delisted from Nasdaq on January 30, 2026.Equity Activity-Common Stock- ATM Program: Sold 3,423,488 shares of our common stock for net proceeds of approximately $33.0 million under the ATM Program.First Quarter Distributions: Declared monthly cash distributions of $0.0467 per share of common stock for each of January, February, and March (totaling $0.1401 per share of common stock for the quarter).Comments from David Gladstone, President and CEO of Gladstone Land: "We had a successful harvest on the property where we oversee growing operations, although the full financial impact has not yet been reflected in our results. While we incurred a full year of operating expenses in 2025, we have not yet recognized a full crop year's worth of revenue, as a significant portion of the revenue from the 2025 pistachio harvest will be recognized later in 2026 following the completion of the marketing period. Market trends for pistachios and almonds, our two primary crop exposures, remain favorable, with year-over-year pricing up for both crops. We view the recent lease modifications as temporary and continue to target a return to standard lease structures that include fixed base rents. If we are unable to reach satisfactory lease terms with tenants on these farms in the near term, we may also consider selling certain of these farms. We are also evaluating potential sales of other select properties within our portfolio. In the meantime, we remain focused on enhancing long-term farm viability by pursuing opportunities to acquire additional water resources at below-market prices, further strengthening water security for our farms and growers. Our balance sheet remains in excellent condition, with nearly 98% of our outstanding debt at fixed interest rates. We also continue to maintain strong liquidity, with over $85 million in immediately available capital and more than $185 million in unencumbered properties that could be pledged as additional collateral, if needed."Quarterly Summary Information
(Dollars in thousands, except per-share amounts) For and As of the Quarters Ended Change Change 12/31/2025 12/31/2024 ($ / #) (%) Operating Data: Total operating revenues $41,454 $21,096 $20,358 96.5%Total operating expenses (29,338) (13,818) (15,520) 112.3%Other expense, net (7,904) (6,739) (1,165) 17.3%Net income $4,212 $539 $3,673 681.4%Less: Aggregate dividends declared on and gains on or charges related to extinguishment of cumulative redeemable preferred stock, net(1) (6,007) (6,002) (5) 0.1%Net loss attributable to common stockholders (1,795) (5,463) 3,668 (67.1)%Plus: Real estate and intangible depreciation and amortization 9,351 8,648 703 8.1%Less: Gains losses on dispositions of real estate assets, net 2,441 755 1,686 223.3%Plus: Impairment charges 3,605 - 3,605 -%Adjustments for unconsolidated entities(2) 11 15 (4) (26.7)%FFO available to common stockholders 13,613 3,955 9,658 244.2%Plus: Acquisition- and disposition-related expenses, net 18 8 10 125.0%Plus: Other nonrecurring charges, net(3) 547 - 547 -%CFFO available to common stockholders 14,178 3,963 10,215 257.8%Net adjustment for normalized cash rents(4) (149) (654) 505 (77.2)%Plus: Amortization of debt issuance costs 446 304 142 46.7%Less: Other non-cash charges, net(5) (108) (251) 143 (57.0)%AFFO available to common stockholders $14,367 $3,362 $11,005 327.3% Share and Per-Share Data: Weighted-average shares of common stock outstanding, fully diluted 37,456,172 36,122,942 1,333,230 3.7% Diluted net loss per weighted-average common share $(0.048) $(0.151) $0.103 (68.3)%Diluted FFO per weighted-average common share $0.363 $0.109 $0.254 231.9%Diluted CFFO per weighted-average common share $0.379 $0.110 $0.269 245.0%Diluted AFFO per weighted-average common share $0.384 $0.093 $0.290 312.1%Cash distributions declared per common share $0.140 $0.140 $0.000 -% Balance Sheet Data: Net investments in real estate and related assets, at cost(6) $1,156,895 $1,259,591 $(102,696) (8.2)%Total assets $1,239,172 $1,312,195 $(73,023) (5.6)%Total indebtedness(7) $535,927 $590,284 $(54,357) (9.2)%Total equity $670,286 $687,182 $(16,896) (2.5)%Total common shares outstanding (fully diluted) 38,014,918 36,184,658 1,830,260 5.1% Other Data: Cash flows from operations $10,613 $11,582 $(969) (8.4)%Farms owned 144 157 (13) (8.3)%Acres owned 98,688 111,190 (12,502) (11.2)%Occupancy rate(8) 95.1% 96.2% (1.1)% (1.1)%Acre-feet of water assets owned 55,532 55,387 145 0.3%(1) Includes cash dividends paid on our cumulative redeemable preferred stock and the net gain (loss) recognized as a result of shares of cumulative redeemable preferred stock that were redeemed.
(2) Represents our pro-rata share of depreciation expense recorded in unconsolidated entities.
(3) Consists primarily of the write-off of certain unallocated costs related to the Series E Offering, which expired on December 31, 2025.
(4) This adjustment removes the effects of straight-lining rental income, as well as the amortization related to above-market lease values and certain non-cash lease incentives and accretion related to below-market lease values, deferred revenue, and tenant improvements, resulting in rental income reflected on a modified accrual cash basis. The effect to AFFO is that cash rents received pertaining to a lease year are normalized over that respective lease year on a straight-line basis, resulting in cash rent being recognized ratably over the period in which the cash rent is earned.
(5) Consists primarily of (i) the net (gain) loss recognized as a result of shares of cumulative redeemable preferred stock that were redeemed, which were non-cash (gains) charges, (ii) our remaining pro-rata share of (income) loss recorded from investments in unconsolidated entities, and (iii) plus (less) net non-cash expense (income) recorded as a result of additional water assets used (received) in certain transactions.
(6) Consists of the initial acquisition price (including the costs allocated to both tangible and intangible assets acquired and liabilities assumed), plus subsequent improvements and other capitalized costs associated with the properties, and adjusted for accumulated depreciation and amortization and impairment charges, if any.
(7) Consists of the principal balances outstanding of all indebtedness, including our lines of credit, notes and bonds payable, and our Series D Term Preferred Stock.
(8) Based on farmable acreage; includes direct-operated farms.Annual Summary Information
(Dollars in thousands, except per-share amounts) For and As of the Years Ended Change Change 12/31/2025 12/31/2024 ($ / #) (%) Operating Data: Total operating revenues $88,339 $85,216 $3,123 3.7%Total operating expenses (68,268) (55,942) (12,326) 22.0%Other expense, net (6,542) (15,984) 9,442 (59.1)%Net income $13,529 $13,290 $239 1.8%Less: Aggregate dividends declared on and gains on or charges related to extinguishment of cumulative redeemable preferred stock, net(1) (24,013) (23,745) (268) 1.1%Net loss attributable to common stockholders (10,484) (10,455) (29) 0.3%Plus: Real estate and intangible depreciation and amortization 34,549 35,055 (506) (1.4)%Less: Gains on dispositions of real estate assets, net (13,882) (5,886) (7,996) 135.8%Plus: Impairment charges 3,921 2,106 1,815 86.2%Adjustments for unconsolidated entities(2) 47 67 (20) (29.9)%FFO available to common stockholders 14,151 20,887 (6,736) (32.2)%Plus: Acquisition- and disposition-related expenses, net 12 5 7 140.0%Plus: Other nonrecurring charges, net(3) 531 349 182 52.1%CFFO available to common stockholders 14,694 21,241 (6,547) (30.8)%Net adjustment for normalized cash rents(4) (1,535) (3,356) 1,821 (54.3)%Plus: Amortization of debt issuance costs 1,247 990 257 26.0%Less: Other non-cash charges, net(5) (44) (2,154) 2,110 (98.0)%AFFO available to common stockholders $14,362 $16,721 $(2,359) (14.1)% Share and Per-Share Data: Weighted-average shares of common stock outstanding, fully diluted 36,506,720 35,909,956 596,764 1.7% Diluted net loss per weighted-average common share $(0.287) $(0.291) $0.004 (1.4)%Diluted FFO per weighted-average common share $0.388 $0.582 $(0.194) (33.4)%Diluted CFFO per weighted-average common share $0.403 $0.592 $(0.189) (32.0)%Diluted AFFO per weighted-average common share $0.393 $0.466 $(0.072) (15.5)%Cash distributions declared per common share $0.560 $0.560 $0.001 0.2% Balance Sheet Data: Net investments in real estate and related assets, at cost(6) $1,156,895 $1,259,591 $(102,696) (8.2)%Total assets $1,239,172 $1,312,195 $(73,023) (5.6)%Total indebtedness(7) $535,927 $590,284 $(54,357) (9.2)%Total equity $670,286 $687,182 $(16,896) (2.5)%Total common shares outstanding (fully diluted) 38,014,918 36,184,658 1,830,260 5.1% Other Data: Cash flows from operations $6,993 $29,548 $(22,555) (76.3)%Farms owned 144 157 (13) (8.3)%Acres owned 98,688 111,190 (12,502) (11.2)%Occupancy rate(8) 95.1% 96.2% (1.1)% (1.1)%Acre-feet of water assets owned 55,532 55,387 145 0.3%(1) Includes cash dividends paid on our cumulative redeemable preferred stock and the net gain (loss) recognized as a result of shares of cumulative redeemable preferred stock that were redeemed.
(2) Represents our pro-rata share of depreciation expense recorded in unconsolidated entities.
(3) Consists primarily of (i) net property and casualty losses (recoveries) recorded and the cost of related repairs expensed as a result of the damage to improvements on certain of our farms caused by certain non-recurring events, (ii) the write-off of certain unallocated costs related to the Series E Offering, which expired on December 31, 2025, and a prior universal shelf registration statement, (iii) one-time legal costs incurred related to certain corporate organizational matters, and (iv) for 2023 only, costs related to the amendment, termination, and listing of shares from the Series C Offering that were expensed.
(4) This adjustment removes the effects of straight-lining rental income, as well as the amortization related to above-market lease values and certain non-cash lease incentives and accretion related to below-market lease values, deferred revenue, and tenant improvements, resulting in rental income reflected on a modified accrual cash basis. The effect to AFFO is that cash rents received pertaining to a lease year are normalized over that respective lease year on a straight-line basis, resulting in cash rent being recognized ratably over the period in which the cash rent is earned.
(5) Consists primarily of (i) the net (gain) loss recognized as a result of shares of cumulative redeemable preferred stock that were redeemed, which were non-cash (gains) charges, (ii) our remaining pro-rata share of (income) loss recorded from investments in unconsolidated entities, (iii) plus (less) net non-cash expense (income) recorded as a result of additional water assets used (received) in certain transactions, and (iv) for 2023 only, the amount of dividends on the Series C Preferred Stock paid via issuing new shares (pursuant to the DRIP).
(6) Consists of the initial acquisition price (including the costs allocated to both tangible and intangible assets acquired and liabilities assumed), plus subsequent improvements and other capitalized costs associated with the properties, and adjusted for accumulated depreciation and amortization and impairment charges, if any.
(7) Consists of the principal balances outstanding of all indebtedness, including our lines of credit, notes and bonds payable, and our Series D Term Preferred Stock.
(8) Based on farmable acreage; includes direct-operated farms.Conference Callfor Stockholders: The Company will hold a conference call on Wednesday, February 25, 2026, at 8:30 a.m. (Eastern Time) to discuss its earnings results. Please call (877) 407-9046 to join the conference call. An operator will monitor the call and set a queue for any questions. A conference call replay will be available after the call and will be accessible through March 4, 2026. To hear the replay, please dial (877) 660-6853, and use playback conference number 13757329. The live audio broadcast of the Company's conference call will also be available online on the Investors section of the Company's website, www.GladstoneLand.com.About Gladstone Land Corporation:Founded in 1997, Gladstone Land is a publicly traded real estate investment trust that owns farmland and farm-related properties located in major agricultural markets in the U.S. The Company currently owns 144 farms, comprised of approximately 99,000 acres in 14 different states and nearly 56,000 acre-feet of water assets in California. Gladstone Land's farms are predominantly located in regions where its tenants are able to grow fresh produce annual row crops, such as berries and vegetables, which are generally planted and harvested annually. The Company also owns farms growing permanent crops, such as almonds, blueberries, figs, olives, pistachios, and wine grapes, which are generally planted every 20-plus years and harvested annually. Over 30% of the Company's fresh produce acreage is either organic or in transition to become organic, and nearly 20% of its permanent crop acreage falls into this category. Gladstone Land pays monthly distributions to its stockholders and has paid 156 consecutive monthly cash distributions on its common stock since its initial public offering in January 2013. The current per-share distribution on its common stock is $0.0467 per month, or $0.5604 per year. Additional information, including detailed information about each of the Company's farms, can be found at www.GladstoneLand.com.Owners or brokers who have farmland for sale in the U.S. or those looking to buy farms should contact:Western U.S. - Bill Reiman at (805) 263-4778 or Bill.R@GladstoneLand.com;Midwestern U.S. and Mid-Atlantic U.S. - Joey Van Wingerden at (703) 287-5914 or Joe.V@GladstoneLand.com; orSoutheastern U.S. - Brett Smith at (904) 687-5284 or Brett.S@GladstoneLand.com.Lenders who are interested in providing us with long-term financing on farmland should contact Jay Beckhorn at (703) 587-5823 or Jay.Beckhorn@Gladstone.com.For stockholder information on Gladstone Land, call (703) 287-5893. For Investor Relations inquiries related to any of the monthly dividend-paying Gladstone funds, please visit www.GladstoneCompanies.com.Non-GAAP Financial Measures:FFO: The National Association of Real Estate Investment Trusts ("NAREIT") developed FFO as a relative non-GAAP supplemental measure of operating performance of an equity REIT in order to recognize that income-producing real estate historically has not depreciated on the basis determined under GAAP. FFO, as defined by NAREIT, is net income (computed in accordance with GAAP), excluding gains (or losses) from sales of property and impairment losses on property, plus depreciation and amortization of real estate assets, and after adjustments for unconsolidated partnerships and joint ventures. The Company believes that FFO per share provides investors with an additional context for evaluating its financial performance and as a supplemental measure to compare it to other REITs; however, comparisons of its FFO to the FFO of other REITs may not necessarily be meaningful due to potential differences in the application of the NAREIT definition used by such other REITs.CFFO: CFFO is FFO, adjusted for items that are not indicative of the results provided by the Company's operating portfolio and affect the comparability of the Company's period-over-period performance. These items include certain non-recurring items, such as acquisition- and disposition-related expenses, the net incremental impact of operations conducted through our taxable REIT subsidiary, income tax provisions, and property and casualty losses or recoveries. Although the Company's calculation of CFFO differs from NAREIT's definition of FFO and may not be comparable to that of other REITs, the Company believes it is a meaningful supplemental measure of its sustainable operating performance. Accordingly, CFFO should be considered a supplement to net income computed in accordance with GAAP as a measure of our performance. For a full explanation of the adjustments made to arrive at CFFO, please read the Form 10-K, filed today with the SEC.AFFO: AFFO is CFFO, adjusted for certain non-cash items, such as the straight-lining of rents and amortizations into or against rental income (resulting in cash rent being recognized ratably over the period in which the cash rent is earned). Although the Company's calculation of AFFO differs from NAREIT's definition of FFO and may not be comparable to that of other REITs, the Company believes it is a meaningful supplemental measure of its sustainable operating performance on a cash basis. Accordingly, AFFO should be considered a supplement to net income computed in accordance with GAAP as a measure of our performance. For a full explanation of the adjustments made to arrive at AFFO, please read the Form 10-K, filed today with the SEC.A reconciliation of FFO (as defined by NAREIT), CFFO, and AFFO (each as defined above) to net income (loss), which the Company believes is the most directly-comparable GAAP measure for each, and a computation of fully-diluted net income (loss), FFO, CFFO, and AFFO per weighted-average share is set forth in the Quarterly Summary Information table above. The Company's presentation of FFO, CFFO, or AFFO, does not represent cash flows from operating activities determined in accordance with GAAP and should not be considered an alternative to net income as an indication of its performance or to cash flow from operations as a measure of liquidity or ability to make distributions.CAUTION CONCERNING FORWARD-LOOKING STATEMENTS:Certain statements in this press release, including, but not limited to, the Company's ability to maintain or grow its portfolio and FFO, expected increases in capitalization rates, benefits from increases in farmland values, increases in operating revenues, and the increase in NAV per share, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements inherently involve certain risks and uncertainties, although they are based on the Company's current plans that are believed to be reasonable as of the date of this press release. Factors that may cause actual results to differ materially from these forward-looking statements include, but are not limited to, the Company's ability to procure financing for investments, downturns in the current economic environment, the performance of its tenants, the impact of competition on its efforts to renew existing leases or re-lease real property, and significant changes in interest rates. Additional factors that could cause actual results to differ materially from those stated or implied by its forward-looking statements are disclosed under the caption "Risk Factors" within the Company's Form 10-K for the fiscal year ended December 31, 2025, as filed with the SEC on February 24, 2026, and certain other documents filed with the SEC from time to time. The Company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.Gladstone Land Corporation, (703) 287-5893SOURCE: Gladstone Land CorporationView the original press release on ACCESS NewswireOriginal: Gladstone Land Announces Fourth Quarter and Year Ended 2025 Results

Gladstone Land Corporation Earnings Call and Webcast InformationFebruary 23, 2026 8:30 AM
ACCESS NewswireMCLEAN, VA / ACCESS Newswire / February 23, 2026 / Gladstone Land Corporation (Nasdaq:LAND) announces the following event:What:Gladstone Land Corporation's Fourth Quarter Ended December 31, 2025, Earnings Call & Webcast When:Wednesday, February 25, 2026 @ 8:30 a.m. ET Where:https://event.choruscall.com/mediaframe/webcast.html?webcastid=jJC5WpUu How:By webcast -- Log on to the web at the address above By phone -- Please call (877) 407-9046 Contact:Gladstone Land Corporation, (703) 287-5893 A conference call replay will be available after the call and will be accessible through March 4, 2026. To hear the replay, please dial (877) 660-6853 and use playback conference number 13757329.If you are unable to participate during the live webcast, the call will be archived and available for replay on the Company's website, www.GladstoneLand.com.Gladstone Land Corporation is a real estate investment trust that specializes in purchasing farms and farm-related properties and leasing them to farmers. Additional information can be found at www.gladstoneland.com.For further information: Gladstone Land Corporation, (703) 287-5893SOURCE: Gladstone Land CorporationView the original press release on ACCESS NewswireOriginal: Gladstone Land Corporation Earnings Call and Webcast Information

>>> Gladstone Land Announces Increase in Monthly Cash Distributions for January, February and March 2022 and Fourth Quarter Ended December 31, 2021, Earnings Release and Conference Call Dates


Accesswire

January 11, 2022


https://finance.yahoo.com/news/gladstone-land-announces-increase-monthly-210500762.html


MCLEAN, VA / ACCESSWIRE / January 11, 2022 /Gladstone Land Corporation (Nasdaq:LAND) ("Gladstone Land" or the "Company") announced today that its board of directors declared the following cash distributions for each of January, February and March 2022.

Monthly Cash Distributions:

Common Stock: $0.0453 per share of common stock for each of January, February and March 2022, payable per the table below:

Summary of Common Stock Cash Distributions

Record Date

Payment Date

Amount

January 21

January 31

$ 0.0453

February 18

February 28

0.0453

March 23

March 31

0.0453

Total for the Quarter:

$ 0.1359

The Company has paid 107 consecutive monthly cash distributions on its common stock since its initial public offering in January 2013 and has increased its common stock distributions 25 times over the prior 28 quarters. The Company offers a dividend reinvestment plan (the "DRIP") to its common stockholders. For more information regarding the DRIP, please visit www.GladstoneLand.com.

Series B Preferred Stock(Nasdaq LANDO): $0.125 per share of Series B Preferred Stock for each of January, February and March 2022, payable per the table below:

Summary of Series B Preferred Stock Cash Distributions

Record Date

Payment Date

Amount

January 21

January 31

$ 0.125

February 18

February 28

0.125

March 23

March 31

0.125

Total for the Quarter:

$ 0.375

The Company has not skipped, reduced, or deferred a monthly Series B Preferred Stock distribution to date.

Series C Preferred Stock(Unlisted): $0.125 per share of Series C Preferred Stock for each of January, February and March 2022, payable per the table below:

Summary of Series C Preferred Stock Cash Distributions

Record Date

Payment Date

Amount

January 26

February 4

$ 0.125

February 24

March 4

0.125

March 25

April 4

0.125

Total for the Quarter:

$ 0.375

The Company has not skipped, reduced, or deferred a monthly Series C Preferred Stock distribution to date.

Series D Preferred Stock (Nasdaq:LANDM): $0.104167 per share of Series D Preferred Stock for each of January, February and March 2022, payable per the table below:

Summary of Series D Preferred Stock Cash Distributions

Record Date

Payment Date

Amount

January 21

January 31

$ 0.104167

February 18

February 28

0.104167

March 23

March 31

0.104167

Total for the Quarter:

$ 0.312501

The Company has not skipped, reduced, or deferred a monthly Series D Preferred Stock distribution to date.

Earnings Announcement:

The Company also announced today that it plans to report earnings for its fourth quarter ended December 31, 2021, after the stock market closes on Tuesday, February 22, 2022. The Company will hold a conference call on Wednesday, February 23, 2022, at 8:30 a.m. EST to discuss its earnings results. Please call (877) 407-9046 to join the conference call. An operator will monitor the call and set a queue for questions.

A conference call replay will be available after the call and will be accessible through March 2, 2022. To hear the replay, please dial (877) 660-6853 and use playback conference number 13725346.

The live audio broadcast of the Company's conference call will also be available online at www.GladstoneLand.com.

About Gladstone Land:

Gladstone Land is a publicly-traded real estate investment trust that invests in farmland located in major agricultural markets in the U.S., which it leases to farmers. The Company currently owns 164 farms, comprised of approximately 113,000 acres in 15 different states and 45,000 acre-feet of banked water in California, valued at approximately $1.5 billion, in the aggregate. Additional information can be found at www.GladstoneLand.com.

For stockholder information on Gladstone Land, call (703) 287-5893. For Investor Relations inquiries related to any of the monthly dividend-paying Gladstone funds, please visit www.GladstoneCompanies.com.

For further information: Gladstone Land Corporation, +1-703-287-5893

SOURCE: Gladstone Land Corporation

<<<

>>> Gladstone Land Acquires Additional Farmland in Florida


Acesswire

December 20, 2021


https://finance.yahoo.com/news/gladstone-land-acquires-additional-farmland-133000518.html


MCLEAN, VA / ACCESSWIRE / December 20, 2021 / Gladstone Land Corporation (NASDAQ:LAND) ("Gladstone Land") announced that it has acquired 1,204 gross acres of farmland, including 975 farmable acres, located north of Fort Myers, Florida, for approximately $7.4 million. In connection with the acquisition, Gladstone Land entered into a five-year, triple-net lease agreement with the seller and current tenant. The property is farmed primarily for sod, melons, and cattle.

"We are very pleased to add this versatile property to our portfolio," said Bill Frisbie, Executive Vice President of Gladstone Land. "Demand for farmable acreage in Florida continues to increase, and we are excited to partner with a very strong tenant who will manage the property well."

"The acquisition of this farm adds to our existing properties in the Southeast and is another good, long-term investment for us," said David Gladstone, President and CEO of Gladstone Land. "We have had a strong year in 2021 with acquisitions and look forward to another good year in 2022."

About Gladstone Land Corporation:

Founded in 1997, Gladstone Land is a publicly traded real estate investment trust that acquires and owns farmland and farm-related properties located in major agricultural markets in the U.S. and leases its properties to unrelated third-party farmers. The company, which reports the aggregate fair value of its farmland holdings on a quarterly basis, currently owns 164 farms, comprised of approximately 113,000 acres in 15 different states and 45,000 acre-feet of banked water in California, valued at approximately $1.5 billion. Gladstone Land's farms are predominantly located in regions where its tenants are able to grow fresh produce annual row crops, such as berries and vegetables, which are generally planted and harvested annually. The company also owns farms growing permanent crops, such as almonds, apples, cherries, figs, lemons, olives, pistachios, and other orchards, as well as blueberry groves and vineyards, which are generally planted every 10 to 20-plus years and harvested annually. The company may also acquire property related to farming, such as cooling facilities, processing buildings, packaging facilities, and distribution centers. Gladstone Land pays monthly distributions to its stockholders and has paid 106 consecutive monthly cash distributions on its common stock since its initial public offering in January 2013. The company has increased its common distributions 24 times over the prior 27 quarters, and the current per-share distribution on its common stock is $0.0452 per month, or $0.5424 per year. Additional information, including detailed information about each of the company's farms, can be found at www.GladstoneLand.com.

<<<

Gladstone Land - >>> 2 Stocks That Cut You a Check Each Month


These two very successful niche operators have been handing out monthly dividends for many years running.


Motley Fool

by Eric Volkman

Dec 17, 2021


In this current era, where change often moves with lightning speed, who wants to wait three months to receive a dividend? Is it because the decades-old standard quarterly dividend is still very much the norm? Why can't it be the exception?

Well for a select group of dividend-paying companies, distributing a chunk of profits in the form of a regular monthly dividend is the norm. Let's take a closer look at two of them -- Realty Income (NYSE:O) and Gladstone Land (NASDAQ:LAND) -- and see if getting paid each month by these dividend stocks is right for you.


Gladstone Land

Elsewhere in the REIT sector, we have Gladstone Land. This company's focus is on farmland and assets related to the same, i.e., properties that are rented under triple-net leases to their tenants. Gladstone owned 160 farms covering more than 108,000 acres across 14 U.S. states as of November. All of its properties are under lease.

Are you saying you've never heard of an agricultural properties REIT? That's not surprising. There are only very few on the market and of that small group, Gladstone is far and away the largest and most significant.

Gladstone tends to favor farms that grow fresh produce and select "permanent" crops like nuts and blueberries. It believes these are more profitable and can thus produce higher rental income. These crops also tend to require lower storage expenses and are less volatile in price than commodity crops such as wheat and corn.

This focus makes for a good business strategy. Thanks to organic growth (no pun intended) and net additions to its property portfolio (33, to be exact), Gladstone posted a robust 40% year-over-year increase in revenue in its Q3 (to just under $19.6 million). AFFO saw an even higher leap, bounding 66% upwards to nearly $5.3 million.

That's entirely in character for Gladstone, which over the past few years has seen dramatic improvements in both revenue and AFFO.

All this means Gladstone has plenty in its financial tank for a dividend that gets distributed 12 times per year. The dividend has been paid without fail since the company listed on the stock market in 2013.

The payout isn't immense in either absolute terms (the latest one was less than $0.05 per share) or yield, which these days is 1.8%. However, the regularity of this reliable monthly dividend, Gladstone's strong position in its very limited niche, and its vast scope for expansion make it a compelling stock worth considering. After all, this is a huge country that still has plenty of agricultural lands available to develop.

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you on crack bro?

Hello-o-o-o ... !
I have the idea to look into investing in farmland. Any thoughts on that and/or this stock in particular? I see that it is losing losing 12 cents per share, but paying a dividend of 54 cents per share.

I got here from reading the following, and I'll look into FPI as well:
https://wellkeptwallet.com/invest-in-farmland/

Hello... ello... elllo... ? Land

Market makers trying to sucker in new buyers by pumping the price, don't be fooled. This stock is done at 11X overvaluation. Wait until it collapses from weight of debt & buy at £1-£2

Share buy backs to prop the falling price is not a good sign! Land Securities could well see administration especially with 11X overvaluation & heavy debt load.

Added to my position following news of the 14.3% increase in monthly dividend to $.04/share. It's a good fit for my Roth IRA.

I believe it was Will Rogers who said, "Buy land. They ain't makin' any more of it."