Gladstone Land

Gladstone Land Corp. is an agricultural real estate investment trust, which engages in the business of owning and leasing farmland. It also includes farm-related facilities, such as cooling facilities, packinghouses, processing facilities, and various storage facilities. The company was founded by David Gladstone on June 14, 1997 and is headquartered in McLean, VA.

Earnings data Q4 2019

Earnings data Q2 2021

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Farmland company LAND reports strong Q1 earnings, eyes strategic expansion

LAND's Q1 2023 earnings call showcased strong financial performance, with a focus on revenue growth and exceeding earnings expectations. While challenges exist in tenant management and rising production costs, the company's cautious approach to acquisitions and focus on water benefits present opportunities for strategic growth.

LAND reports stable Q2 performance amidst inflation challenges and cautious acquisitions

LAND's Q2 performance reflects stability amidst operational challenges and inflation's impact on food prices. The company's cautious approach to acquisitions and focus on farmland crops are key strengths, while challenges include tenant-related operational issues and high farm prices. Opportunities lie in potential asset sales, water-related projects, and leveraging inflation's impact.

Gladstone Land Corporation Reports Rise in Net Asset Value

Gladstone Land Corporation's Q3 performance reflects the impact of tenant issues and challenges posed by high interest rates and oversupply in the almond market. Despite this, the company's strong asset base and proactive management approach position it well to navigate the current market conditions.

Gladstone Land navigates challenges, eyes growth in sustainable farming

Gladstone Land faces challenges from vacant properties and tenants on nonaccrual status but benefits from renewed leases and stable crop prices. The company's focus on water security and innovative strategies positions it well for long-term sustainability amidst opportunities for gains and growth in farmland investments.

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MCLEAN, Va., Nov.  04, 2019  (GLOBE NEWSWIRE) -- Gladstone Land Corporation (Nasdaq: LAND) (“Gladstone Land” or the “Company”) announced that it has acquired approximately 1,100 gross acres of farmland in Coalinga, California, for $37 million. The farm consists of 1,040 planted acres of mature pistachio trees. This was the second and final phase of the purchase of this orchard that includes an eight-year, triple-net lease agreement with RTS Agri Business and Canoas Creek Pistachios. The first phase closed in August for $33 million. 

Gladstone Land Completes Acquisition of Large Pistachio Orchard in California

MCLEAN, Va., Oct.  21, 2019  (GLOBE NEWSWIRE) -- Gladstone Land Corporation (Nasdaq:  LAND) (“Gladstone Land” or the “Company”) announced that it has renewed leases on two of its larger properties that had leases originally scheduled to expire in 2020.  In total, the revenues from these properties accounted for approximately 47% of the Company’s remaining 2020 lease expirations.  As a result of these two lease renewals, the Company expects to recognize an aggregate of approximately $496,000 of additional net income per year, or approximately 14.7% more than that of the prior leases on these two properties.  The Company continues to negotiate its remaining 2020 lease expirations.

Gladstone Land Reports Progress on Renewing Leases on its Farms

MCLEAN, Va., Oct.  14, 2019  (GLOBE NEWSWIRE) -- Gladstone Land Corporation (Nasdaq:  LAND) (“Gladstone Land” or the “Fund”) reflects on recent reports of China’s plan to buy more grains and clarifies certain aspects of its external fee structure.

Gladstone Land Reports on China’s Plan to Buy More U.S. Grains and Offers Additional Information on its External Structure

MCLEAN, Va., Oct.  07, 2019  (GLOBE NEWSWIRE) -- Gladstone Land Corporation (Nasdaq:  LAND) (“Gladstone Land” or the “Company”) announced that it has acquired approximately 3,850 acres of farmland located in Hayes and Hitchcock Counties, Nebraska, for approximately $14.7 million.  The farms currently grow corn, soybeans, and edible beans, and both farms will be converted into organic farmland by 2021.  In connection with the acquisitions, Gladstone Land entered into 10-year, triple-net lease agreements on each farm.

Gladstone Land Acquires Nebraska Farms to Convert to Organic Production

MCLEAN, Va., Sept.  13, 2019  (GLOBE NEWSWIRE) -- Gladstone Land Corporation (NASDAQ: LAND) (the "Company") today announced that it has sold over 55% (3,309,633 shares) of its continuous registered public offering of 6,000,000 shares of its 6.00% Series B Cumulative Redeemable Preferred Stock (the "Series B Preferred Stock") since filing a prospectus supplement on May 31, 2018. The Company’s first sale of Series B Preferred Stock occurred on June 25, 2018.

Gladstone Land Corporation Passes 50% Mark for Series B Preferred Stock Offering

MCLEAN, Va., Sept.  04, 2019  (GLOBE NEWSWIRE) -- Gladstone Land Corporation (Nasdaq:  LAND) (“Gladstone Land” or the “Company”) announced that it has acquired a 366-acre vineyard in Napa, California, for $32 million.  In connection with the acquisition, Gladstone Land entered into a leaseback agreement with the seller for a 10-year, triple-net lease.

Gladstone Land Acquires  Vineyard in Napa, California

MCLEAN, Va., Sept.  03, 2019  (GLOBE NEWSWIRE) -- Gladstone Land Corporation (Nasdaq:  LAND) (“Gladstone Land” or the “Company”) announced that it has acquired approximately 413 gross acres of farmland within the Oxnard Plain of California.  At closing, the Company entered into lease agreements with two different, unrelated third-party tenants to operate the property.  The seller will lease back most of the farm to continue their sod business, while the remainder of the farm will be leased to a local berry grower to grow a variety of berry crops.

Gladstone Land Acquires a Large Coastal Farm in Oxnard, California

MCLEAN, Va., Aug.  19, 2019  (GLOBE NEWSWIRE) -- Gladstone Land Corporation (Nasdaq: LAND) (“Gladstone Land” or the “Company”) announced that it has acquired approximately 1,000 gross acres of farmland in Coalinga, California, for $33 million. The farm consists of 911 planted acres of mature pistachio trees. In connection with the acquisition, the Company also entered into an eight-year, triple-net lease with RTS Agri Business and Canoas Creek Pistachios. This is the first closing of a two-part acquisition; the second closing is scheduled to occur during the fourth quarter of 2019 and is slightly larger than this one.

Gladstone Land Acquires a Large Pistachio Orchard in California

Gladstone Land Corporation (LAND) CEO David Gladstone on Q2 2019 Results - Earnings Call Transcript

I was taught long ago that they aren't making any more land.

Gladstone: They Aren't Making Any More Land, Buy What You Can

Gladstone Land Corporation (LAND) CEO David Gladstone on Q1 2019 Results - Earnings Call Transcript

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