GLADSTONE LAND (LAND) Company Report

Gladstone Land Corporation reported a net income of $2.1 million and an adjusted FFO of $1.4 million ($0.04 per share) for Q3 2025, reflecting a year-over-year decline attributed to lease structure changes, farm sales, and tenancy issues.
The company completed the sale of a Florida property for $21.5 million, generating a $6 million gain and a 36% premium over its original purchase price.
Lease structures on certain permanent crop farms were modified to a percentage of gross crop sales, with $17 million in revenue anticipated from three pistachio orchards in Q4 2025, and most of the 2025 earnings expected in the fourth quarter.
Gladstone Land plans to redeem its $60.4 million Series B term preferred stock by January 2026 to avoid a coupon rate increase from 5% to 8%, maintaining strong liquidity with over $170 million in immediately available capital.

Nov 6, 2025, 1:30 PM

Gladstone Land Board Authorizes Preferred Stock Repurchase Program

LAND

Share Buyback

Gladstone Land Corporation's board of directors authorized a preferred stock repurchase program on July 11, 2025.
The program authorizes repurchases of up to $20,000,000 of its 6.00% Series B Cumulative Redeemable Preferred Stock (LANDO) and up to $35,000,000 of its 6.00% Series C Cumulative Redeemable Preferred Stock (LANDP).
This authorization for the Preferred Stock Repurchase Program is valid until July 10, 2026.
The company views the current market conditions as an attractive buying opportunity for its preferred stock, considering it a favorable strategic use of capital.

Jul 11, 2025, 12:00 AM

Gladstone Land Corp Reports Q1 2025 Earnings Results

LAND

Earnings

Dividends

Q1 2025 results: Reported net income of $15.1 million, net income to common shareholders of $9.1 million, and adjusted FFO of approximately $2 million (down from $5.1 million last year), with dividends declared at $0.14 per share.
Lease restructuring impact: Changes including reduced or eliminated fixed base rents and increased participation rent components are expected to lead to about a $17 million decline in fixed base rent revenue for FY 2025, affecting NOI recognition timing.
Liquidity and portfolio strategy: Maintained liquidity by paying off $19.5 million in loans and emphasized a cautious acquisition approach, backed by a diversified farmland portfolio spanning 103,000 acres across 50 farms in 15 states with significant water assets.