Gladstone Land Corporation (LAND) announced that Walter H. Wilkinson Jr. resigned from its Board of Directors effective immediately on October 22, 2026. The company elected George “Chip” Stelljes, III to succeed him as Lead Independent Director effective October 26, 2026. Following Wilkinson’s resignation, the board fixed its size at seven directors, effective October 26, 2026.
Gladstone Land Corp (LAND) former director Walter H. Wilkinson reported direct holdings of 13,809 common shares on October 26, 2026. His service as a director ended effective October 22, 2026.
Gladstone Land Corporation reported second-quarter 2026 results reflecting continued losses but stronger cash generation and balance sheet progress. Total operating revenues were $12.7 million, up 3.2% year over year, while total operating expenses rose 35.9%, including a $4.2 million non-cash impairment on four Arizona farms. Net loss was $8.5 million, with net loss attributable to common stockholders of $13.5 million, or $0.315 per share.
Non-GAAP performance improved: AFFO available to common was $(1.6) million, versus $(3.5) million in the prior-year quarter, and cash flows from operations rose to $19.9 million, up 404.7%. The company paid $0.140 per share in common distributions and maintained a 95.4% occupancy rate. Total indebtedness declined 12.7% to $487.8 million, and a new $37.0 million Farm Credit revolving facility enhanced liquidity. Management highlighted a continued shift toward participation-based rents on “Repositioned Farms,” with a substantial majority of 2026 revenue and earnings expected to be recognized in the fourth quarter, and noted materially higher pistachio and almond pricing supporting these farms.
Gladstone Land Corporation, a farmland REIT, reported weak profitability but stronger cash generation for the six months ended June 30, 2026. Lease revenue was $27.2 million, slightly below $29.1 million a year earlier, while total operating revenues were $29.2 million.
Impairment charges of $5.1 million on farms in Florida and Arizona, lower gains on property sales, and higher operating costs drove a net loss of $12.8 million and a net loss attributable to common stockholders of $23.5 million, or $(0.56) per share, versus a $(0.13) loss a year earlier. Despite this, net cash provided by operating activities rose to $29.2 million from $8.4 million, helped by working-capital movements and non‑cash expenses.
As of June 30, 2026, the company owned 144 farms totaling 98,688 acres and 55,649 acre-feet of water assets, with total assets of $1.19 billion and equity of $673.1 million. Management continued to reshape the capital structure by redeeming $60.6 million of 5.00% Series D Term Preferred Stock, repurchasing $11.1 million of Series B and C preferred shares below liquidation value, and issuing 5.1 million common shares under its at-the-market program for $51.4 million in gross proceeds.
Gladstone Land Corporation authorized a Preferred Stock Repurchase Program for up to $20,000,000 of its 6.00% Series B Cumulative Redeemable Preferred Stock and up to $35,000,000 of its 6.00% Series C Cumulative Redeemable Preferred Stock. The authorization expires on July 14, 2027, may be suspended or discontinued at any time, and does not obligate the company to repurchase any particular amount.
Repurchases may occur through open-market purchases on U.S. exchanges or privately negotiated transactions, including under Rule 10b5-1 trading plans, with timing and size driven by market and economic conditions. Gladstone Land is a publicly traded real estate investment trust focused on U.S. farmland, owning 142 farms totaling approximately 98,000 acres and over 55,000 acre-feet of water assets in California.
Gladstone Land Corp director George Stelljes III filed an amended Form 3, which is an initial statement of beneficial ownership. This amendment reports no buy or sell transactions and shows no derivative positions listed for this reporting person in the data provided.
GLADSTONE LAND Corp director George Stelljes III filed an initial Form 3, which is a required report of his ownership position as an insider. This filing does not list any stock transactions or derivative holdings; it simply establishes him as a reporting person for future disclosures.
Gladstone Land Corporation has elected George “Chip” Stelljes, III as an independent director, effective June 1, 2026. He joins the 2028 class of directors with a term ending at the 2028 annual stockholder meeting and will serve on the Compensation, Ethics, Nominating and Corporate Governance, and Valuation Committees.
In connection with his appointment, the board has been expanded from seven to eight directors. The company highlights his more than 25 years of experience in investment analysis, management and advisory roles, including prior senior positions with the Gladstone Companies. Gladstone Land is a farmland-focused real estate investment trust owning 144 farms totaling about 99,000 acres and paying monthly common dividends of $0.0467 per share, or $0.5604 per year.
Gladstone Land Corporation reported results from its 2026 Annual Meeting of Stockholders. Stockholders elected two directors to serve until the 2029 Annual Meeting. David Gladstone received 14,533,998 votes for and 794,093 withheld, while John H. Outland received 8,056,134 votes for and 7,271,957 withheld. Each director’s proposal also recorded 14,059,519 broker non-votes. Stockholders further ratified the Audit Committee’s selection of PricewaterhouseCoopers LLP as independent registered public accounting firm for the fiscal year ending December 31, 2026, with 28,611,523 votes for, 621,955 against, and 154,132 abstentions.
Gladstone Land Corporation reported mixed first-quarter 2026 results, with a net loss of about $4.3 million versus net income of $15.1 million a year earlier, driven largely by higher operating expenses and reduced gains on property sales.
Net loss attributable to common stockholders was about $10.0 million, or $0.24 per share, compared with net income of $9.1 million, or $0.25 per share, in the prior-year quarter. However, AFFO rose to roughly $3.1 million, or $0.08 per share, up from $2.0 million, or $0.06 per share, reflecting stronger cash-based performance.
Results were heavily influenced by participation rents and crop sales tied to an early 2025 pistachio bonus payment of about $4.9 million, while fixed base rents declined as farms were sold, transitioned, or vacated. The company redeemed $60.6 million of Series D Term Preferred Stock, raised approximately $36.7 million via its ATM program, repurchased preferred shares at a gain, and paid common stock distributions of about $0.14 per share.