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Pace of acquisitions picking up at Gladstone Land

Aug. 05, 2014 12:18 PM ETGladstone Land Corporation (LAND) StockLANDBy: Stephen Alpher, SA News Editor
  • Q2 core FFO of $463.8K or $0.07 per share vs. $358.9K and $0.05 in Q1. Quarterly dividend of $0.09.
  • Net asset value is estimated at $13.93 per share.
  • Acquired 5 new farms - bringing total to 26 - consisting of 439 acres at a weighted-average cap rate of 5.3%. Acres owned is up 7.3% from Q1. Occupancy rate is 100%.
  • CEO David Gladstone: "Being public is still very expensive and will continue to be until we become much larger ... Our backlog of farms we hope to acquire is very strong."
  • LAND +3.3%
  • Previously: Gladstone Land beats on revenue

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