Ramp up continues at Gladstone Land

• Q4 adjusted FFO of $1.23M or $0.159 per share vs. $780.8K and $0.09 in Q3.
• Net asset value per share of $13.94 vs. $13.77 at the end of Q3.
• Farms owned of 32 vs. 29 in Q3. Acres owned of 8,039 up from 7,641. Occupancy rate of 100% vs. 100%.
• One more farm purchased since quarter' end - 331 acres for $17M.
• CEO David Gladstone: "Being public is still very expensive. However, we believe we are beginning to achieve economies of scale, and we expect to see the increases in our operating revenues outpace those of our expenses going forward."
• Conference call tomorrow at 8:30 ET
• Previously: Gladstone Land misses by $0.01, beats on revenue (Feb. 24)
• LAND flat after hours