Welcome to our dedicated page for Gladstone Land news (Ticker: LAND), a resource for investors and traders seeking the latest updates and insights on Gladstone Land stock.
Gladstone Land Corporation (NASDAQ: LAND) is a farmland-focused real estate investment trust that regularly issues news related to its agricultural property portfolio and capital structure. The company acquires and owns farmland and farm-related properties in major U.S. agricultural markets and leases them to farmers, with a focus on land used for fresh produce annual row crops and permanent crops such as almonds, blueberries, figs, olives, pistachios, and wine grapes.
News about Gladstone Land often covers monthly cash distributions on its common and preferred stock, reflecting its REIT model of paying regular income to stockholders. The company frequently announces board-approved monthly distribution amounts, record dates, and payment dates for its common stock and multiple series of preferred stock, as well as details about its dividend reinvestment plan.
Investors following LAND news will also see updates on earnings, including quarterly financial results, funds from operations (FFO), core FFO, and adjusted FFO (AFFO). These releases may discuss changes in lease structures, such as shifts between fixed base rent and participation-based rent, portfolio occupancy, and the impact of property acquisitions or sales. The company also announces conference calls and webcasts associated with its quarterly results.
Additional news items can include property transactions, such as the sale of farms at premiums to original purchase prices, acquisitions of additional water assets in California, loan refinancings, bond repayments, and preferred stock repurchase authorizations or redemptions. For readers tracking LAND, this news stream provides insight into how Gladstone Land manages its farmland portfolio, lease arrangements with farmers, and capital allocation decisions.
Gladstone Land Corporation (NASDAQ:LAND) has reported damage to one of its farms due to severe flooding across California, which has experienced an unusually wet winter. The estimated repair costs for the damaged farm are not expected to exceed $1 million, with insurance likely covering the expenses. Fortunately, other farms remain unaffected. The company noted that many growers are adjusting their planting schedules in response to the flooding. Additionally, water reservoirs are at or above historical averages, which may benefit agricultural operations. Gladstone Land owns 169 farms across 15 states, valued at approximately $1.6 billion.
Gladstone Land Corporation (NASDAQ: LAND) announced its financial results for Q4 and FY 2022 on February 21, 2023. The company acquired five farms for $65.1 million, yielding an initial capitalization rate of 5.8%. Lease activities led to a net annual operating income decrease of $454,000 (4.9%), partially offset by a revenue increase of $2.5 million from participation rents. Total revenue rose 18.5% YoY to $89.2 million. AFFO increased 21.6% YoY to $24.8 million. However, net income for Q4 dropped to $1.1 million, and net loss to common stockholders reached $4.8 million. The NAV per share rose to $17.08, reflecting better farm valuations.
Gladstone Land Corporation (Nasdaq: LAND) has announced its Fourth Quarter Earnings Call for the year ending December 31, 2022, scheduled for February 22, 2023, at 8:30 a.m. EST. The call will provide insights into the company’s performance and future outlook.
The event will be accessible via webcast or by phone at (877) 407-9046. A replay will be available until March 1, 2023, by calling (877) 660-6853, with playback conference number 13734663.
Gladstone Land Corporation (Nasdaq: LAND) announced the first closing of its 5.00% Series E Cumulative Redeemable Preferred Stock on January 19, 2023. The cash distributions for each of January, February, and March 2023 are set at $0.104167 per share, totaling $0.312501 for the quarter. The offering will terminate no later than December 31, 2025, or when all 8,000,000 shares are sold. Proceeds will support property acquisitions and corporate purposes. Although the company plans to list the stock on Nasdaq within a year post-termination, no assurance can be given regarding the listing. Investors are encouraged to review the prospectus before investing.
Gladstone Land Corporation (Nasdaq: LAND) announced cash distributions of $0.0459 per share for common stock for January, February, and March 2023, reflecting an increase from the previous quarter.
The company has consistently paid dividends since its IPO in January 2013, with a total of 119 consecutive monthly distributions. Additionally, it has plans to report its fourth quarter earnings on February 21, 2023, followed by a conference call on February 22, 2023.
Gladstone Land Corporation (Nasdaq: LAND) has filed a prospectus supplement with the SEC for a continuous public offering of up to 8,000,000 shares of its 5.00% Series E Cumulative Redeemable Preferred Stock at an offering price of $25.00 per share. The company anticipates raising up to $200 million in gross proceeds with approximately $175 million net after expenses. The offering is expected to terminate by December 31, 2025, or once all shares are sold. It aims to list the preferred stock on Nasdaq within a year of the offering's termination.
Gladstone Land Corporation (NASDAQ: LAND) reported its third-quarter results for 2022, showing a net income of approximately $1.8 million, a notable increase from $0.6 million in the previous quarter. The company acquired four farms for about $37.4 million, expecting an initial net capitalization rate of 6.2%. AFFO rose by 60.3% to $7.2 million, driven by a 19.7% increase in cash lease revenues. They repaid $16.9 million in loans and amended the Series C Preferred Stock offering, now limited to 10.4 million shares. NAV per share increased to $16.56, up $0.96 from the last quarter.
Gladstone Land Corporation (Nasdaq: LAND) has scheduled its Third Quarter Earnings Call for November 9, 2022, at 8:30 a.m. Eastern Time. Investors can join via webcast or by calling (877) 407-9046. A replay of the call will be available until November 16, 2022, at (877) 660-6853 using conference number 13732344. The corporation focuses on acquiring farms and related properties, leasing them to farmers, positioning itself in the agricultural real estate sector.
Gladstone Land Corporation (Nasdaq:LAND) announced the election of Paula Novara to its board of directors for the class of 2025, effective October 11, 2022. Novara has been with the company since its inception as Head of Resource Management and has extensive experience in human resources, having previously held roles at WMF Group and Prudential Financial. The company owns 169 farms across the U.S., totaling over 115,000 acres, valued at more than $1.5 billion, leasing these lands to farmers to support its business model.
Gladstone Land Corporation (NASDAQ: LAND) has announced cash distributions of $0.0458 per share for each month of October, November, and December 2022, totaling $0.1374 for the quarter. Additionally, Series B, C, and D Preferred Stocks will receive $0.125 and $0.104167 per share respectively, with total quarterly distributions of $0.375 and $0.312501. The company has maintained a consistent distribution record, paying 116 consecutive monthly distributions since its IPO in January 2013. An earnings report for Q3 2022 is scheduled for November 8, 2022.
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