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LAND News
LAND Events
Gladstone Land Appoints George Stelljes to Board of Directors
Gladstone Land Corporation announced that George Stelljes, III has been elected to the 2028 class of directors for the Company, effective June 1, 2026. Mr. Stelljes has also been appointed to serve on the Company's Compensation Committee, Ethics, Nominating & Corporate Governance Committee and Valuation Committee. In connection with Mr. Stelljes' appointment, the size of the Company's board of directors has been expanded from seven to eight directors. Stelljes is currently the managing partner of St. John's Capital, LLC, a vehicle used to make private equity investments.
Gladstone Land Files $1B Mixed Securities Shelf
Gladstone Land files $1B mixed securities shelf
Gladstone Investment Reports Q4 Revenue of $41.45M, Beating Expectations
Reports Q4 revenue $41.45M, consensus $32.50M. Participation rent increased by approximately $9.3M, driven mainly by recent lease modifications and improved year-over-year pistachio pricing, while fixed base cash rent revenue decreased by approximately $1.9M due to farm sales and ongoing vacancy. "We had a successful harvest on the property where we oversee growing operations, although the full financial impact has not yet been reflected in our results. While we incurred a full year of operating expenses in 2025, we have not yet recognized a full crop year's worth of revenue, as a significant portion of the revenue from the 2025 pistachio harvest will be recognized later in 2026 following the completion of the marketing period," said David Gladstone, president and CEO.
Gladstone Land board announces preferred stock repurchase authorization
Gladstone Land's board of directors has authorized a share repurchase program for up to $20,000,000 of the Company's 6.00% Series B Cumulative Redeemable Preferred Stock and up to $35,000,000 of the Company's 6.00% Series C Cumulative Redeemable Preferred Stock. The repurchases are intended to be implemented through open market transactions on U.S. exchanges or in privately negotiated transactions, in accordance with applicable securities laws, and any market purchases will be made during applicable trading window periods or pursuant to any applicable Rule 10b5-1 trading plans. The timing, prices, and sizes of repurchases will depend upon prevailing market prices, general economic and market conditions and other considerations. The board's authorization of the Preferred Stock Repurchase Program expires July 10, 2026, and the Preferred Stock Repurchase Program may be suspended or discontinued at any time and does not obligate the Company to acquire any particular amount of preferred stock.
Gladstone Land reports Q1 adjusted FFO 6c, consensus 3c
Reports Q1 revenue $16.8M, consensus $17.3M. Net income for Q1 was approximately $15.1M, compared to approximately $13.6M in the prior-year quarter.
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