Gladstone Land Stock Price, News & Analysis

Gladstone Land Corporation (NASDAQ:LAND) has acquired 236 acres of farmland in Fresno County, California, for $3.6 million, aimed at growing almond trees. This acquisition is coupled with a 20-year lease agreement with an existing tenant, allowing operational expansion. David Gladstone, the company's President, expressed optimism about adding almond acreage, enhancing their nut crop portfolio. The company currently owns 128 farms across 13 states, valued at approximately $1 billion, and has consistently paid distributions to shareholders since its IPO in 2013.

Gladstone Land Corporation (NASDAQ:LAND) has acquired 597 acres of farmland in South Carolina for approximately $3.8 million. This acquisition, which includes a 10-year lease with a local sod grower, marks Gladstone's first investment in the state, expanding its footprint to 13 states and 26 growing regions. The fully irrigated farms are ideal for various crops, enhancing Gladstone's agricultural portfolio, which currently includes 127 farms valued at approximately $987 million. The company has consistently paid monthly cash distributions to stockholders since its IPO in 2013.

Gladstone Land Corporation has successfully listed its 6.00% Series B Preferred Stock on Nasdaq under the ticker LANDO, effective October 19, 2020, ahead of the expected timeline. The stock was originally issued at $25.00 per share through a $150 million offering that concluded in March 2020. With a consistent dividend rate, the listing signifies investor confidence in Gladstone Land's business model, as noted by CEO David Gladstone. The company owns 124 farms across 12 states, valued at approximately $983 million, and has a strong history of monthly distributions to shareholders.

Gladstone Land Corporation (NASDAQ:LAND) announced the elevation of two Managing Directors to Executive Vice President roles: Bill Frisbie for East Coast Operations and Bill Reiman for West Coast Operations. Frisbie has been with the company since 2006, overseeing farmland acquisitions in the East, while Reiman joined in 2013, focusing on the West. The company emphasizes their importance in driving growth, underlined by its substantial farmland holdings across the U.S., valued at approximately $983 million. Gladstone has consistently paid monthly distributions to shareholders since its IPO.

Gladstone Land Corporation (NASDAQ:LAND) has announced cash distributions of $0.0449 per share for its common stock for October, November, and December 2020, marking the 92nd consecutive monthly cash distribution since its IPO in January 2013. The company has also declared distributions for its Series A, B, and C Preferred Stocks, maintaining a track record of no skipped or deferred payments. Additionally, earnings for the third quarter ending September 30, 2020 will be reported on November 4, 2020, with a conference call scheduled for November 5, 2020.

Gladstone Land Corporation (NASDAQ:LAND) has priced its public offering of 1,650,000 shares at $14.40 each, with a potential additional 247,500 shares for overallotments. The offering is expected to close around October 13, 2020, generating approximately $22.6 million in net proceeds for debt repayment, future property acquisitions, and corporate needs. The company currently owns 124 farms across 12 states, valued at about $983 million, and has a strong history of consistent monthly cash distributions to shareholders.

Gladstone Land Corporation (NASDAQ: LAND) announced an underwritten public offering of its common stock on October 7, 2020. The offering includes a 30-day option for underwriters to purchase additional shares. Proceeds will be utilized to repay existing debt and to fund future property acquisitions. Investors are advised to review the preliminary prospectus supplement and accompanying prospectus filed with the SEC. The company manages 124 farms across 12 states, valued at approximately $983 million, and has distributed cash to shareholders monthly since its IPO in 2013.

Gladstone Land Corporation (Nasdaq: LAND) announced the acquisition of 801 acres of farmland, including 757 planted acres of pistachio trees in Fresno County, California, for approximately $31.8 million. The company has also signed a three-year leaseback agreement with the seller. Gladstone Land reported no damages to its farms from recent hurricanes or wildfires. Additionally, two leases have been renewed, expected to increase annual net operating income by $171,000, or 11.4%. The company continues to evaluate potential farms for acquisition.

Gladstone Land Corporation (Nasdaq: LAND) has acquired 939 acres of farmland in Maryland and Delaware for $7.4 million, aimed at growing vegetables and sod. The deal includes a 10-year lease with a local grower. This acquisition expands Gladstone Land’s footprint to 12 states and 25 growing regions. The Company reports its farms remain fully occupied, benefitting from elevated produce prices while only a small portion of its revenue comes from crops like corn and soy, which are currently depressed in price. Importantly, none of its farms were affected by recent California wildfires.