Gladstone Land Stock Price, News & Analysis

Gladstone Land Corporation (Nasdaq: LAND) reported its second quarter results for 2021, revealing a net loss of approximately $531,000 compared to net income of $554,000 in the previous quarter. The company acquired 13 farms for $79.7 million, increasing annual net operating income by 14.9% due to new leases. AFFO fell to $3.7 million, down from $4.7 million, attributed to higher operating expenses and an increase in outstanding shares. However, cash lease revenues rose by 5.3%, and NAV per share increased to $13.16.

Gladstone Land Corporation (Nasdaq: LAND) will hold its Second Quarter Earnings Call on August 11, 2021, at 8:30 AM EDT. Investors can join the call via webcast or phone. A replay will be available until August 18, 2021. The company, focused on acquiring and leasing farmland, aims to provide updates on its financial performance. Interested parties can access the webcast through the provided link or by calling (877) 407-9046.

Gladstone Land Corporation (NASDAQ: LAND) declared monthly cash distributions of $0.0451 per share for its common stock for July, August, and September 2021. This marks 101 consecutive months of cash distributions since their IPO in January 2013, with 23 increases in the past 26 quarters. The total cash distribution for the quarter amounts to $0.1353. Additionally, distributions for Series B, C, and D Preferred Stock were set at $0.125 (totaling $0.375), and $0.104167 (totaling $0.3125), respectively. The Company plans to announce its earnings on August 10, 2021.

Gladstone Land Corporation (Nasdaq:LAND) has acquired 930 acres of farmland in Paw Paw, Michigan, including 480 acres of blueberry bushes, for $13.3 million. The acquisition features a 23,000 SF cooling and packing plant and a 9,000 SF box barn, along with a retail store. A 15-year lease with Berry Brothers, a local farming company, was established. This acquisition marks Gladstone's largest in Michigan, enhancing their portfolio and supporting local operations amid strong fruit sales in 2021.

Gladstone Land Corporation (Nasdaq: LAND) announced the acquisition of 639 acres of farmland in Kern County, California, including 617 acres planted with almonds, for approximately $25.4 million. The company will also exercise an option to purchase 20,330 acre-feet of stored water. This acquisition is the first of a three-part deal totaling approximately $81.7 million. Additionally, a 10-year lease agreement has been established. With this move, Gladstone Land aims to enhance its agricultural investments and ensure water availability for optimal crop production.

Gladstone Land Corporation (Nasdaq: LAND) has acquired 116 acres of farmland in Hammonton, New Jersey, for approximately $2.2 million. The acquisition includes around 100 acres of blueberry bushes and a packing facility, accompanied by a 15-year triple-net lease with Berry Brothers. This marks Gladstone Land's first move into New Jersey, aiming for expansion amid strong demand for fresh blueberries in the Mid-Atlantic and Northeast. The company's portfolio now includes 144 farms across 14 states, valued at around $1.2 billion.

Gladstone Land Corporation (NASDAQ:LAND) reported its Q1 2021 results, showing a net income of $554,000, a significant increase from $91,000 in Q4 2020. However, the net loss to common stockholders was approximately $2.2 million, or $0.08 per share. The company acquired three farms for about $5.6 million, enhancing its portfolio. AFFO rose 30.6% to approximately $4.7 million. The firm also increased monthly cash distributions to $0.13485 per share. Following a successful equity offering, total assets increased by 6.3% to $1.13 billion, while the NAV per share improved to $12.69.

Gladstone Land Corporation (NASDAQ:LAND) will host its First Quarter Earnings Call on May 13, 2021, at 8:30 a.m. EDT. The call will be available via webcast and phone at (877) 407-9046. A replay will be accessible through May 20, 2021, by calling (877) 660-6853 with conference number 13717650. As a real estate investment trust, Gladstone Land specializes in acquiring farms and related properties, leasing them to farmers. More information can be found at www.GladstoneLand.com.

Gladstone Land Corporation (NASDAQ:LAND) announced cash distributions of $0.045 per share for April, May, and June 2021, totaling $0.135 for the quarter. The Company has successfully paid 98 consecutive monthly cash distributions and has increased them 22 times over the last 25 quarters. Additionally, it plans to report Q1 earnings after market close on May 12, 2021, with a conference call on May 13, 2021. Gladstone Land holds 141 farms across 13 states, valued at approximately $1.2 billion.