Gladstone Land Announces Third Quarter 2026 Results
Early recognition of the 2025 pistachio crop bonus helped quarterly earnings, while lower 2026 yields create uncertainty for 2027.
Sentiment and the balance of points
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Rhea-AI Summary
Gladstone Land (LAND) reported third-quarter 2026 net income of approximately $11.0 million, up from the prior-year quarter as participation rents increased. Net income attributable to common stockholders was approximately $6.1 million, versus a loss of approximately $3.9 million. Adjusted funds from operations, a non-GAAP earnings measure, reached approximately $15.1 million versus approximately $1.4 million.
Participation rents reached approximately $16.8 million, aided by early recognition of the 2025 pistachio crop bonus. Direct farming generated approximately $2.9 million in net profit. The company recorded approximately $2.2 million in non-cash farm impairments and repaid approximately $5.2 million of loans. Lower 2026 pistachio yields create uncertainty for 2027 earnings. After quarter-end, solar purchase options provided annual payments beginning at approximately $331,000, conditional on the options remaining in place.
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Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate pointNet income rose to approximately $11.0 million from approximately $2.1 million in the prior-year quarter.
- Moderate pointAdjusted funds from operations reached approximately $15.1 million, versus approximately $1.4 million in the prior-year quarter.
- Moderate pointParticipation rents reached approximately $16.8 million versus approximately $5.4 million, partly reflecting early bonus recognition.
- Moderate pointTotal indebtedness decreased 9.2% from September 30, 2025.
- Moderate pointCommon-stock sales raised approximately $1.5 million in net proceeds through the at-the-market program.
- Moderate pointPreferred-stock repurchases covered 456,823 Series B and C shares at $20.80 on average, generating approximately $784,000 in gains.
- Moderate pointPost-quarter preferred repurchases covered 182,872 Series B and C shares at $19.64 on average, generating approximately $519,000 in gains.
- Moderate pointOccupancy increased to 97.7% from 95.7% a year earlier, including direct-operated farms.
13 minor points
- Minor pointCommon-stockholder income reached approximately $6.1 million, versus a prior-year quarterly loss of approximately $3.9 million.
- Minor pointDiluted adjusted funds from operations per share rose to $0.349 from $0.039 in the prior-year quarter.
- Minor pointDirect farming operations generated approximately $2.9 million in quarterly net profit.
- Minor point. Forward-looking: it has not happened yet and may not happen.Nine amended or new leases are expected to increase annual net operating income by approximately $241,000.
- Minor point2026 pistachio initial base price reached $2.50 per split in-shell pound, 67% above the initial 2025 price.
- Minor point2025 pistachio total price reached $2.90 per split in-shell pound, 21% above the final 2024 price.
- Minor pointAlmond market prices were generally 18% to 25% above a year earlier, the company said.
- Minor pointLoan repayments totaled approximately $5.2 million on loans bearing a 3.47% effective interest rate, net of interest patronage.
- Minor pointWashington farm acquisition added 180 acres valued at approximately $2.8 million as partial satisfaction of tenant obligations.
- Minor point. Forward-looking: it has not happened yet and may not happen.Solar purchase options provide annual payments beginning at approximately $331,000, increasing thereafter if the options remain in place.
- Minor pointIncentive fee waiver voluntarily waived the Adviser's third-quarter earned fee amid uncertainty over 2026 crop results.
- Minor pointInterest expense decreased, primarily following the January 30, 2026 redemption of Series D preferred stock.
- Minor point. Forward-looking: it has not happened yet and may not happen.Traditional fixed-base-rent leases remain the company's target for farms operating under temporary lease modifications.
Negative
- Moderate point2026 pistachio yields were significantly lower; the company cited alternate bearing and March heat affecting pollination.
- Moderate pointRepositioned Farms increase reliance on participation rents and crop sales, with reduced or eliminated fixed rents.
- Moderate pointOperating cash flow remained negative, despite improving approximately $6.4 million from the prior-year quarter.
- Moderate pointRecurring cash operating expenses excluding related-party fees increased approximately $1.2 million from the prior-year quarter.
- Moderate pointFixed base cash rents decreased approximately $433,000, reflecting vacant, non-accrual and sold properties.
- Moderate pointCommon-stock issuance added 156,273 shares through the at-the-market program, diluting existing holders.
3 minor points
- Minor pointFarm impairments totaled approximately $2.2 million, non-cash, across four Arizona farms and one Washington farm.
- Minor pointFlorida farm sales generated approximately $3.2 million but an aggregate net loss of approximately $169,000.
- Minor pointFully diluted common shares outstanding increased 19.2% from September 30, 2025.
Key Figures
- Total operating revenues
- $31.471 million
- Third quarter 2026; up 77.0% year over year
- Net income attributable to common stockholders
- $6.115 million, or $0.142 per diluted share
- Third quarter 2026; versus a $3.915 million loss and $0.108 loss per share in the prior-year quarter
- AFFO available to common stockholders
- $15.068 million, or $0.349 per diluted share
- Third quarter 2026; versus $1.410 million and $0.039 per diluted share in the prior-year quarter
- Participation rent revenue
- $16.8 million
- Third quarter 2026; compared with $5.4 million in the prior-year quarter
- Initial pistachio base price
- $2.50 per pound
- 2026 split in-shell pistachio crop; 67% above the initial 2025 crop base price
- Impairment charge
- $2.193 million
- Non-cash charge related to farms in Arizona and Washington
- Common shares issued under ATM program
- 156,273 shares; approximately $1.5 million net proceeds
- Third quarter 2026
- Preferred shares repurchased
- 456,823 shares at an average $20.80 per share; approximately $784,000 gain
- Third quarter 2026 repurchases of Series B and Series C preferred stock
Previous Earnings Reports
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Modified leases shifted participation-based revenue recognition later, while reported revenue and AFFO declined year over year.
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Modified leases reduced fixed rents in exchange for participation rents expected to be recognized primarily in Q4.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
ffo financial
affo financial
non-gaap financial
at-the-market sales program financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
MCLEAN, VA / ACCESS Newswire / November 10, 2026 / Gladstone Land Corporation (Nasdaq:LAND) ("Gladstone Land" or the "Company") today reported financial results for the third quarter ended September 30, 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 Quarterlys 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.
Third Quarter 2026 Highlights:
- 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, 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, we refer to these properties as our "Repositioned Farms," reflecting a temporary shift toward greater participation-based revenues. These arrangements increase our reliance on participation rents and crop sales, which are generally recognized once crop results are known, typically in the second half of each calendar year. Consequently, consistent with 2025, we expect to recognize a substantial majority of our 2026 revenue and earnings during the second half of the year, as reflected in our third quarter results.
- Crop Pricing Update: During the third quarter, our primary processor announced an initial base price of
$2.50 per pound for split in-shell pistachios for the 2026 crop, representing a67% increase over the initial 2025 crop base price. The same processor also announced the minimum grower-partner bonus payment for the 2025 crop earlier than usual, bringing the total price to$2.90 per split in-shell pound, representing a21% increase over the final 2024 crop price. With the significantly lower yields on the 2026 pistachio crop, we currently expect pricing to remain strong in the near term. - Portfolio Activity:
- Lease Activity: Executed nine amended or new lease agreements expected to result in an aggregate increase in annual net operating income of approximately
$241,000 . - Property Sale: Sold two farms in Florida totaling 617 gross acres for approximately
$3.2 million , resulting in an aggregate net loss of approximately$169,000 . - Participation Rents: Recorded approximately
$16.8 million of participation rent revenue, compared to approximately$5.4 million in the prior-year quarter, primarily attributable to the early recognition of the bonus payment for the 2025 pistachio crop, as well as continued strong pricing for almonds and pistachios. - Crop Sales: Recorded net profit from crop sales on direct-operated farms of approximately
$2.9 million , also driven by these same factors. - Impairment: Recorded a non-cash impairment charge of approximately
$2.2 million related to four farms in Arizona and one farm in Washington.
- Lease Activity: Executed nine amended or new lease agreements expected to result in an aggregate increase in annual net operating income of approximately
- Debt Activity-Loan Repayments: Repaid approximately
$5.2 million of loans that bore an effective interest rate (net of interest patronage) of3.47% . - Equity Activity:
- Common Stock-ATM Program: Issued and sold 156,273 shares of our common stock for net proceeds of approximately
$1.5 million under our "at-the-market" sales program (the "ATM Program"). - Repurchase Program: Repurchased a total of 456,823 shares of our
6.00% Series B Cumulative Redeemable Preferred Stock (the "Series B Preferred Stock") and our6.00% Series C Cumulative Redeemable Preferred Stock (the "Series C Preferred Stock") at an average repurchase price of$20.80 per share, resulting in a total gain on repurchase of approximately$784,000 .
- Common Stock-ATM Program: Issued and sold 156,273 shares of our common stock for net proceeds of approximately
- Paid Distributions: Paid monthly cash distributions totaling
$0.1401 per share of common stock during the quarter ended September 30, 2026.
Third Quarter 2026 Results:
Net income for the quarter was approximately
Total cash lease revenues increased by approximately
Direct farming operations generated a net profit of approximately
Aggregate net related-party fees remained relatively flat during the current quarter. Excluding related-party fees, recurring cash operating expenses increased by approximately
Cash flows from operations for the current quarter improved by approximately
Subsequent to September 30, 2026:
- Portfolio Activity:
- Property Acquisition: Acquired one 180-acre farm in Washington as partial satisfaction of outstanding obligations owed to us by a tenant in default pursuant to a forbearance agreement. The farm had an estimated fair value of approximately
$2.8 million . - Solar Option Agreements: Entered into two agreements granting a third-party solar company options to purchase up to 5,638 acres of farmland in California for potential solar energy development. The agreements have terms of five and six years, respectively, and provide for aggregate annual option payments beginning at approximately
$331,000 in the first year and increasing thereafter, provided the options remain in place.
- Property Acquisition: Acquired one 180-acre farm in Washington as partial satisfaction of outstanding obligations owed to us by a tenant in default pursuant to a forbearance agreement. The farm had an estimated fair value of approximately
- Equity Activity:
- Repurchase Program: Repurchased a total of 182,872 shares of our Series B Preferred Stock and Series C Preferred Stock at an average repurchase price of
$19.64 per share, resulting in a total gain on repurchase of approximately$519,000 .
- Repurchase Program: Repurchased a total of 182,872 shares of our Series B Preferred Stock and Series C Preferred Stock at an average repurchase price of
- Fourth Quarter Distributions: Declared monthly cash distributions of
$0.0467 per share of common stock for each of October, November, and December, totaling$0.1401 per share of common stock for the quarter.
Comments from David Gladstone, President and CEO of Gladstone Land: "With the announcement of the bonus on the 2025 pistachio crop, the financial cycle for the 2025 crop, the first year in which we oversaw growing operations on certain of our farms, is nearing completion, with results exceeding our internal expectations. Looking ahead, the 2026 pistachio crop was already expected to be an "off" year due to the crop's alternate-bearing nature, and yields were further impacted by a March heat event in California that affected pollination across the state, resulting in significantly lower yields. However, pricing remains strong, which should help partially offset the impact of lower yields, and we expect constrained supply to continue to support pricing in the near term. Given the uncertainty around the 2026 crop results, which will impact our 2027 earnings, our Adviser decided to voluntarily waive the incentive fee earned in this third quarter, as we remain committed to preserving the dividend for our shareholders during this period of uncertainty. Almond prices also continue to strengthen, with current market prices generally
| For and As of the Quarters Ended | Change | Change | ||||||||||||||
| 9/30/2026 | 9/30/2025 | ($ / #) | (%) | |||||||||||||
Operating Data: | ||||||||||||||||
Total operating revenues | $ | 31,471 | $ | 17,785 | $ | 13,686 | 77.0 | % | ||||||||
Total operating expenses | (15,231 | ) | (13,292 | ) | (1,939 | ) | 14.6 | % | ||||||||
Other expense, net | (5,215 | ) | (2,406 | ) | (2,809 | ) | 116.7 | % | ||||||||
Net income | $ | 11,025 | $ | 2,087 | $ | 8,938 | 428.3 | % | ||||||||
Less: Aggregate dividends declared on and gains on or charges related to extinguishment of cumulative redeemable preferred stock, net(1) | (4,910 | ) | (6,002 | ) | 1,092 | (18.2 | )% | |||||||||
Net income (loss) attributable to common stockholders | 6,115 | (3,915 | ) | 10,030 | (256.2 | )% | ||||||||||
Plus: Real estate and intangible depreciation and amortization | 7,369 | 8,395 | (1,026 | ) | (12.2 | )% | ||||||||||
Plus (less): Losses (gains) on dispositions of real estate assets, net | 185 | (3,062 | ) | 3,247 | (106.0 | )% | ||||||||||
Plus: Impairment charges | 2,193 | 316 | 1,877 | 594.0 | % | |||||||||||
Adjustments for unconsolidated entities(2) | 10 | 10 | - | - | % | |||||||||||
FFO available to common stockholders | 15,872 | 1,744 | 14,128 | 810.1 | % | |||||||||||
Plus: Acquisition- and disposition-related expenses, net | 5 | 2 | 3 | 150.0 | % | |||||||||||
Plus: Other nonrecurring charges, net(3) | 3 | - | 3 | - | % | |||||||||||
CFFO available to common stockholders | 15,880 | 1,746 | 14,134 | 809.5 | % | |||||||||||
Net adjustment for normalized cash rents(4) | (301 | ) | (442 | ) | 141 | (31.9 | )% | |||||||||
Plus: Amortization of debt issuance costs | 184 | 220 | (36 | ) | (16.4 | )% | ||||||||||
Less: Other non-cash receipts, net(5) | (695 | ) | (114 | ) | (581 | ) | 509.6 | % | ||||||||
AFFO available to common stockholders | $ | 15,068 | $ | 1,410 | $ | 13,658 | 968.7 | % | ||||||||
Share and Per-Share Data: | ||||||||||||||||
Weighted-average shares of common stock outstanding, fully diluted | 43,174,454 | 36,190,889 | 6,983,565 | 19.3 | % | |||||||||||
Diluted income (loss) per weighted-average common share | $ | 0.142 | $ | (0.108 | ) | $ | 0.250 | (230.9 | )% | |||||||
Diluted FFO per weighted-average common share | $ | 0.368 | $ | 0.048 | $ | 0.319 | 662.9 | % | ||||||||
Diluted CFFO per weighted-average common share | $ | 0.368 | $ | 0.048 | $ | 0.320 | 662.4 | % | ||||||||
Diluted AFFO per weighted-average common share | $ | 0.349 | $ | 0.039 | $ | 0.310 | 795.8 | % | ||||||||
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) | $ | 1,115,387 | $ | 1,169,264 | $ | (53,877 | ) | (4.6 | )% | |||||||
Total assets | $ | 1,181,716 | $ | 1,225,778 | $ | (44,062 | ) | (3.6 | )% | |||||||
Total indebtedness(7) | $ | 492,695 | $ | 542,779 | $ | (50,084 | ) | (9.2 | )% | |||||||
Total equity | $ | 665,037 | $ | 661,794 | $ | 3,243 | 0.5 | % | ||||||||
Total common shares outstanding (fully diluted) | 43,292,846 | 36,307,401 | 6,985,445 | 19.2 | % | |||||||||||
Other Data: | ||||||||||||||||
Cash flows from operations | $ | (5,616 | ) | $ | (12,036 | ) | $ | 6,420 | (53.3 | )% | ||||||
Farms owned | 142 | 148 | (6 | ) | (4.1 | )% | ||||||||||
Acres owned | 98,065 | 100,323 | (2,258 | ) | (2.3 | )% | ||||||||||
Occupancy rate(8) | 97.7 | % | 95.7 | % | 2.0 | % | 2.1 | % | ||||||||
Acre-feet of water assets owned | 55,657 | 55,532 | 125 | 0.2 | % | |||||||||||
| (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 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, including investments in water assets, 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 the three months ended September 30, 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 Wednesday, November 11, 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 November 18, 2026. To hear the replay, please dial (877) 660-6853, and use playback conference number 13762362. 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 143 farms, consisting of approximately 98,000 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 165 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
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; or
- Southeastern 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) 287-5893
SOURCE: Gladstone Land Corporation
View the original press release on ACCESS Newswire
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What dividend did Gladstone Land declare for the fourth quarter of 2026?
Gladstone Land declared monthly common-stock distributions of $0.0467 per share for each of October, November and December, totaling $0.1401 per share for the quarter. It also paid distributions totaling $0.1401 per common share during the third quarter.
How much farmland is covered by Gladstone Land's solar purchase options?
The two agreements grant a third-party solar company options to purchase up to 5,638 acres in California for potential solar development. The agreements have terms of five and six years, respectively; they are purchase options, not completed land sales.
Why does Gladstone Land expect earnings to be concentrated in the second half of 2026?
Gladstone Land expects a substantial majority of 2026 revenue and earnings in the second half because participation rents and crop sales are generally recognized once crop results are known. Its Repositioned Farms comprise three farms under modified leases and four farms across two properties operated under third-party management agreements.