Steven Dumanski's questions to GLADSTONE LAND (LAND) leadership • Q2 2025
Question
Steven Dumanski from Janney Montgomery Scott asked about the outlook for property disposition opportunities given the high cost of capital for potential buyers and sought clarification on the quarter-over-quarter decrease in the company's owned acre-feet of water.
Answer
CEO David Gladstone responded that while buyers exist, they are seeking significant discounts, which Gladstone Land is not pursuing unless it's a high-value conversion opportunity, such as selling Florida farmland for housing development. CFO Lewis Parrish clarified that the minor decrease in water assets was due to using a small amount (44 acre-feet) of stored water to irrigate trees during a tenant and well transition.