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 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.
Gladstone Land Corporation (Nasdaq:LAND) has acquired organic farmland worth approximately $42.3 million in California and Oregon. The properties, featuring advanced irrigation and sustainable practices, are leased back to the seller for 10 to 15 years. The acquisition aligns with the increasing demand for organic produce, which rose by 11% in 2020. Gladstone Land currently manages 155 farms across 14 states, valued at about $1.3 billion, and has a strong record of 102 consecutive monthly cash distributions. This strategic move aims to enhance its healthy produce portfolio.
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.
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