Gladstone Land Corporation is soliciting proxies for its 2026 virtual Annual Meeting on May 14, 2026. Shareholders will vote on electing two directors to terms expiring at the 2029 meeting and ratifying PricewaterhouseCoopers LLP as independent registered public accounting firm for the year ending December 31, 2026.
The record date is March 20, 2026, with 41,704,321 common shares entitled to one vote each. The board is classified into three staggered classes, with a majority (five of seven directors) affirmatively determined independent under Nasdaq rules. In 2025 the board met five times and independent directors held regular executive sessions.
PwC has served as auditor since 2005; audit and tax fees for 2025 totaled $809,420, down from $949,135 in 2024. As an externally managed REIT, the company has no employees; in 2025 it accrued approximately $8.0 million in advisory fees and $2.6 million in administration fees to affiliated entities. Directors received cash retainers and meeting fees only, with no equity awards. Executive officers are paid by the adviser or administrator, not directly by the company.
Gladstone Land Corp ownership disclosure: The Vanguard Group filed Amendment No. 3 to a Schedule 13G/A reporting 0 shares beneficially owned of Gladstone Land Corp common stock, representing 0% of the class. The filing explains an internal realignment effective January 12, 2026 that caused separate reporting by certain Vanguard subsidiaries.
Gladstone Land Corporation reported a leadership change, appointing John Sateri as Chief Investment Officer, effective March 20, 2026. At the same time, he was also named CIO of several related Gladstone entities and continues to serve as President of the Gladstone Alternative Income Fund.
Sateri has been with the Gladstone Companies since 2007 and most recently served as Executive Vice President of Investments, sitting on the Investment Committee and originating debt and equity investments. The company notes that its executives, including Sateri, are compensated by an external adviser and administrator, as Gladstone Land currently has no employees.
Gladstone Land Corporation reclassified and designated 1,185,000 shares of authorized but unissued 5.00% Series D Cumulative Term Preferred Stock as additional shares of Common Stock. After this change, authorized capital stock consists of 52,017,888 shares of Common Stock, 6,329,207 shares of 6.00% Series B Cumulative Redeemable Preferred Stock, 25,666,775 shares of 6.00% Series C Cumulative Redeemable Preferred Stock, and 15,986,130 shares of 5.00% Series E Cumulative Term Preferred Stock. The reclassification did not increase the total authorized capital stock.
Gladstone Land Corporation reported a sharp rebound in fourth-quarter 2025 results driven by a shift toward participation-based rents and new direct farming income. Q4 operating revenues rose to $41.5 million, nearly doubling the prior year, with net income of $4.2 million. However, after preferred dividends, common shareholders still recorded a net loss of $1.8 million, or $0.05 per share.
Key REIT cash metric AFFO for Q4 increased to $14.4 million, or $0.38 per share, from $3.4 million, or $0.09, helped by roughly $20.0 million of participation rents, a $2.1 million lease termination fee, and $2.6 million of net income from crop sales. For 2025 as a whole, operating revenues edged up to $88.3 million, but AFFO declined to $14.4 million, or $0.39 per share, from $16.7 million, or $0.47, as farm sales, higher operating costs, and revenue timing offset gains.
During 2025 the company sold 13 farms totaling 12,502 acres for about $95.4 million, realizing net gains of roughly $21.3 million, and reduced total indebtedness to $535.9 million. Subsequent to year-end, it redeemed all $60.6 million of 5.00% Series D Term Preferred Stock and raised about $33.0 million via its ATM equity program. Management highlighted favorable nut crop pricing, plans to return leases to more fixed base rent, and strong liquidity with over $85 million of immediately available capital.
Gladstone Land Corporation files its annual report as an agricultural REIT focused on owning and leasing U.S. farmland. The company is externally managed and conducts operations through an UPREIT structure.
Gladstone Land owns 144 farms totaling 98,688 acres across 14 states, plus 55,532 acre-feet of water assets in California as of December 31, 2025. Most properties are triple-net leased to medium-sized independent farming operations, with some leases including participation rent tied to farm revenue and a smaller number of farms temporarily operated directly via third-party management agreements or a taxable REIT subsidiary.
The strategy centers on long-term ownership of farmland and farm-related facilities, geographic and crop diversification, selective use of leverage, and occasional sales for capital gains. Key risks highlighted include geographic concentration, exposure to crop prices and yields, climate and water availability, tenant credit risk and bankruptcies, illiquidity of farmland, dependence on external capital to fund growth, management conflicts of interest due to external advisory relationships, and maintaining REIT and partnership tax status.
Gladstone Land Corp. has had its 5.00% Series D Cumulative Term Preferred Stock removed from listing and registration on the Nasdaq Stock Market LLC. Nasdaq certifies that it has followed its own rules to strike this preferred stock class from listing, and the company has complied with the exchange’s requirements for voluntary withdrawal under the Securities Exchange Act of 1934.
Gladstone Land Corporation reported that it furnished a press release announcing its financial results for the third quarter ended September 30, 2025. The press release is included as Exhibit 99.1 and, along with the related information, is deemed furnished and not filed under SEC rules.
The Form 8-K is dated November 5, 2025, and lists the company’s securities registered on Nasdaq, including common stock (LAND) and multiple series of preferred stock.
Gladstone Land Corporation (LAND) reported Q3 2025 results highlighting lower lease revenue and continued portfolio repositioning. Lease revenue, net, was $17.7 million for the quarter and $46.8 million year-to-date, compared with $22.6 million and $63.7 million a year ago. Net income was $2.1 million in Q3, but after preferred dividends, the net loss attributable to common stockholders was $3.9 million, or $0.11 per share.
The company executed sizable asset sales: five Florida farms for about $52.5 million in January (gain ~$14.1 million), two Nebraska farms for $12.0 million in February (gain ~$1.6 million), and two Florida farms for $21.5 million in August (gain ~$6.0 million), contributing to $16.3 million of gains year‑to‑date. Total assets were $1.23 billion, and notes and bonds payable, net, decreased to $480.2 million. Operating cash flow was a use of $3.6 million, while investing cash flow benefited from $82.5 million of sale proceeds.
As of September 30, 2025, the portfolio included 148 farms across 100,323 acres and 55,532 acre‑feet of water assets. An impairment of ~$316,000 was recorded on a Florida property. Common shares outstanding were 36,307,401 as of September 30, 2025.