Gladstone Land Stock Price, News & Analysis

Gladstone Land Corporation (NASDAQ:LAND) will host its Fourth Quarter Earnings Call on February 23, 2022, at 8:30 a.m. EST. Investors can participate via webcast or phone. A replay will be available until March 2, 2022. The company focuses on acquiring farms and leasing them to farmers, reflecting a specialized position in the real estate investment trust sector.

Gladstone Land Corporation (Nasdaq:LAND) announced cash distributions of $0.0453 per common share for January, February, and March 2022. The total distribution for the quarter amounts to $0.1359. The company has consistently paid monthly distributions for 107 consecutive months and raised distributions 25 times in the last 28 quarters. Additionally, distributions for Series B, C, and D Preferred Stocks were announced, with each at $0.125 for three months, and Series D at $0.104167. Earnings for Q4 2021 will be reported post-market on February 22, 2022.

Gladstone Land Corporation (NASDAQ:LAND) announced the acquisition of 1,204 acres of farmland, including 975 farmable acres, near Fort Myers, Florida, for approximately $7.4 million. The deal includes a five-year triple-net lease with the seller. The property primarily produces sod, melons, and cattle. Executives expressed satisfaction with the acquisition, citing increasing demand for farmland in Florida and the potential for long-term investment benefits. Gladstone Land currently owns 164 farms across 15 states, valued at around $1.5 billion.

Gladstone Land Corporation (NASDAQ:LAND) has acquired 2,635 acres of farmland, primarily 1,776 acres planted with pistachios, near Lost Hills, California, for $88.0 million. This acquisition includes a 10-year triple-net lease with the seller. The orchards benefit from favorable soil and climate conditions that have resulted in strong yield history. With this addition, Gladstone Land continues to expand its portfolio of permanent crops, reinforcing its strategy of long-term investments.

Gladstone Land Corporation (NASDAQ:LAND) has acquired 165 acres of farmland near Milton-Freewater, Oregon, for approximately $2.4 million. The acquisition includes a 10-year, triple-net lease with a leading wine industry tenant who plans to establish a vineyard on the property. This land comes with established water rights and is located within the Walla Walla Valley AVA. Gladstone Land continues to enhance its portfolio with strategic acquisitions, currently owning 162 farms across 15 states valued at $1.4 billion.

Gladstone Land Corporation has announced raising over $75 million from its 6.00% Series C Cumulative Redeemable Preferred Stock offering since April 2020. The company experienced strong sales momentum throughout 2021 after establishing its own wholesaling team. With a total offering size of $500 million, proceeds are intended for farmland acquisitions and corporate purposes. The offering will terminate by June 1, 2025, or upon selling all 20 million shares. Currently, there is no public market for the shares, but listing plans are in place.

Gladstone Land Corporation (NASDAQ: LAND) has acquired approximately 230 acres of farmland in Georgia for $2.9 million. This includes 175 acres of blueberries and a packing facility, alongside a 15-year lease with a regional farmer. The acquisition marks Gladstone's entry into the Georgia market, which is crucial for fresh blueberry supply in the U.S. during peak seasons. CEO David Gladstone emphasized the importance of securing productive farmland amid rising prices due to inflation, as the company currently owns 162 farms across 15 states.

Gladstone Land Corporation (LAND) reported its third-quarter financial results for 2021, demonstrating growth across several key metrics. The company acquired five farms totaling 1,516 acres and secured banked water for $62.3 million, expecting a minimum net capitalization rate of 6%. Notably, AFFO increased by 40.9% to approximately $5.3 million, with a distribution increase of 0.22%. Net income for the quarter was $1.5 million, a significant turnaround from a loss in the prior quarter. The NAV per share rose to $13.80, reflecting strong asset appreciation and a growing portfolio.

Gladstone Land Corporation (NASDAQ:LAND) will host its Third Quarter Earnings Call on November 10, 2021, at 8:30 a.m. EDT. Investors can participate via webcast or by phone at (877) 407-9046. A replay will be available until November 17, 2021 at (877) 660-6853 using conference number 13722591. The company specializes in acquiring and leasing farms and related properties. Further details are accessible at www.gladstoneland.com.