Gladstone Land Stock Price, News & Analysis

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.

Gladstone Land Corporation has acquired 219 acres of farmland in Madera County, California, for $3.3 million. This purchase includes a 10-year, triple-net lease with an existing tenant. The property features a productive almond orchard, benefiting both the company and the tenant as the almonds are at peak production. Currently, Gladstone Land owns 160 farms across 14 states, valued at approximately $1.4 billion, and has maintained a consistent monthly cash distribution.

Gladstone Land Corporation (NASDAQ: LAND) has announced cash distributions for the months of October, November, and December 2021. The monthly cash distribution for common stock is set at $0.0452 per share, totaling $0.1356 for the quarter. Additionally, distributions for Series B, C, and D Preferred Stocks are $0.125, $0.125, and $0.104167 respectively, summing to $0.375 for Series B and C, and $0.312501 for Series D. The company has a consistent track record, having paid 104 consecutive monthly distributions since its IPO in January 2013.

Gladstone Land Corporation (NASDAQ:LAND) has acquired 1,284 acres of farmland, including over 1,200 planted acres of pistachios and almonds, located in Kern County, California, for approximately $43.0 million. This acquisition includes 19,670 acre-feet of stored water, significantly enhancing agricultural production potential. The deal involves a 10-year lease agreement and marks the completion of a three-part acquisition worth approximately $84.2 million. The company now owns 159 farms across 14 states, valued at around $1.4 billion.

Gladstone Land Corporation (NASDAQ:LAND) has announced the acquisition of 479 acres of farmland in Kern County, California, including 460 acres of almonds and 5,000 acre-feet of stored water, for approximately $14.8 million. This deal is part of a three-part acquisition totaling about $84.2 million. A 10-year, triple-net lease has been established for the farmland. The additional water is expected to enhance production sustainability. Gladstone Land currently owns 158 farms across 14 states, with a total value exceeding $1.3 billion.

Gladstone Land Corporation (Nasdaq:LAND) has acquired two citrus groves in South Florida, spanning 617 acres, for approximately $5.2 million. This acquisition includes a 12-year leaseback agreement with the seller. The groves, producing lemons and oranges, are expected to enhance Gladstone's portfolio in a state known for its citrus production. Gladstone Land currently owns 157 farms across the U.S., valued at about $1.3 billion, and has a consistent track record of monthly cash distributions since its IPO in 2013.