Gladstone Land(LAND)- NASDAQ
  • Wed, Sep. 14, 4:13 PM
    • The two (one in Stanislaus County, the other in Merced County) total 2,485 acres and were purchased for $23.4M in cash and 343.75K partnership units valued at $12 each for total consideration of $27.5M.
    • Alongside the purchase, LAND assumed two long-term, triple-net leases that include annual CPI increases and upward market rent adjustments every five years.
    • The trees on both farms are about nine years old, so just beginning peak production. Both properties have strong access to water, says CEO David Gladstone. "Please eat more almonds!"
    | Wed, Sep. 14, 4:13 PM | 4 Comments
  • Tue, Sep. 6, 8:42 AM
    • The company has acquired 7,384 acres of farmland across five farms in Baca County, CO for about $4.9M in cash and 125.7K operating partnership units valued at $12.93 each - total consideration of $6.5M.
    • Gladstone (NASDAQ:LAND) has also entered into a triple-net-lease agreement with the existing operator on the property for an initial term running through 2020, with one five-year extension option. The straight-line cap rate is 5.91%.
    | Tue, Sep. 6, 8:42 AM | 2 Comments
  • Wed, Aug. 17, 4:15 PM
    • The company closed a 1M share offering of 6.375% Series A Cumulative Term Preferred Stock for $25 each. The underwriters exercised their option to buy another 150K shares at that price.
    | Wed, Aug. 17, 4:15 PM | 2 Comments
  • Tue, Aug. 16, 9:32 AM
    • Gladstone Land (NASDAQ:LAND) has agreed to buy 7.4K acres of farmland in Southeast Colorado for $4.9M in cash and 125.7K units in the company's operating partnership to be valued at $12.93 each. Total consideration is about $6.5M.
    • The deal also includes a lease agreement with an initial term through 2020. The potential tenant has farmed the area for decades, specializing in a high-fiber, low-protein hay blend for the cattle feed-lot industry.
    | Tue, Aug. 16, 9:32 AM
  • Thu, Aug. 11, 2:59 PM
    • The 70 acres primarily farmed for strawberries is in Hillsborough County and was purchased for $1.7M. Alongside, Gladstone (LAND +1.4%) assumed a lease with a global berry operator that runs through 2021 with a five-year extension option.
    • Gladstone now owns 49 farms totaling 23.9K acres across seven states.
    • Net asset value of $13.68 per share as of June 30 compares to the current stock price of $11.44.
    | Thu, Aug. 11, 2:59 PM | 2 Comments
  • Tue, Aug. 2, 5:08 PM
    • Q2 adjusted FFO of $1.46M or $0.136 per share vs. $1.258M and $0.123 on Q1.
    • Cash flow from operations of $2.03M -52% Q/Q. Farms owned of 47 vs. 46. Acres owned of 23.456 up 2%. Occupancy flat at 100%.
    • Net asset value per share of $13.68 down from $13.87 three months earlier thanks to $3.7M in capital improvements which haven't  yet been considered in determining fair values. Today's close was $11.33.
    • CC tomorrow at 8:30 ET
    • Previously: Gladstone Land reports Q2 results (Aug. 2)
    • LAND flat after hours
    | Tue, Aug. 2, 5:08 PM
  • Tue, Aug. 2, 4:43 PM
    • Gladstone Land (NASDAQ:LAND): Q2 FFO of $0.14
    • Revenue of $4.24M (+15.2% Y/Y)
    • Press Release
    | Tue, Aug. 2, 4:43 PM
  • Tue, Jul. 12, 5:05 PM
    • Gladstone Land (NASDAQ:LAND) declares $0.04125/share monthly dividend, in line with previous.
    • Forward yield 4.47%
    • Payable Aug. 2; for shareholders of record July 22; ex-div July 20
    • Payable Aug. 31; for shareholders of record Aug. 22; ex-div Aug. 18.
    • Payable Sept. 30; for shareholders of record Sept. 21; ex-div Sept. 19.
    | Tue, Jul. 12, 5:05 PM
  • Tue, Jul. 5, 9:23 AM
    • The 401 acres of farmland in St. Lucie County was purchased for $5.1M. Upon closing, Gladstone (NASDAQ:LAND) entered a lease with a grower and marketer of fresh vegetables for a seven-year lease with annual rent escalations and two, seven-year extension options.
    • It's Gladstone's first Southeast Florida purchase and brings the portfolio up to 48 farms across the country.
    • Company NAV as of March 31 of $13.87 per share compares to Friday's close of $11.30.
    | Tue, Jul. 5, 9:23 AM | 4 Comments
  • Mon, Jun. 20, 10:03 AM
    • The company expands its secured note purchase facility with Farmer Mac to $125M from $75M, and extends the term by two years.
    • LAND +1%
    | Mon, Jun. 20, 10:03 AM | 1 Comment
  • Mon, May 2, 4:41 PM
    • Q1 adjusted FFO of $1.256M or $0.123 per share vs. $1.157M and $0.125 in Q4. Dividend is $0.12.
    • Operating revenues of $3.68M up 8%; operating expenses of $2.28M up 23%.
    • Farms owned of 46 up from 43. Acres owned of 23K up 36.8%. Occupancy is flat at 100%. Farmland portfolio value of $318M up 11.5% NAV per share of $13.87 down from $14.20. Today's close was $10.38.
    • Conference call tomorrow at 8:30 ET
    • Previously: Gladstone Land misses by $0.01, beats on revenue (May 2)
    • LAND flat after hours
    | Mon, May 2, 4:41 PM | 2 Comments
  • Mon, May 2, 4:26 PM
    • Gladstone Land (NASDAQ:LAND): Q1 EPS of $0.02 misses by $0.01.
    • Revenue of $3.68M (+39.9% Y/Y) beats by $0.01M.
    • Press Release
    | Mon, May 2, 4:26 PM
  • Tue, Apr. 12, 5:19 PM
    • Gladstone Land (NASDAQ:LAND) declares $0.04125/share monthly dividend, 3.2% increase from prior dividend of $0.04.
    • Forward yield 4.94%
    • Payable May 2; for shareholders of record April 22; ex-div April 20.
    • Payable May 31; for shareholders of record May 19; ex-div May 17.
    • Payable June 30; for shareholders of record June 17; ex-div June 15.
    | Tue, Apr. 12, 5:19 PM | 5 Comments
  • Tue, Apr. 5, 4:14 PM
    • The deal is for 453 acres of farmland in Fresno County, with pistachio trees ranging from 5-19 years old planted on 435 of those acres.
    • As part of the purchase, LAND entered into a sale-leaseback deal with the seller for a 10-year triple-net lease, plus a 5-year extension option.
    • The lease includes a variable component based on the farm's gross revenue.
    | Tue, Apr. 5, 4:14 PM | 2 Comments
  • Thu, Mar. 3, 5:12 PM
    • The company gets into the San Luis Valley, paying $19.3M in cash and about 746K operating partnership units for 6.19K acres of farmland in Saguache County. The OP units were valued at $8.85 each, for total consideration of about $25.9M.
    • The property consists of 39 pivot-irrigated fields, most of which are organic or undergoing conversion to organic. There's also a potato packing and storage facility and other farm-related buildings.
    • At closing, Gladstone (NASDAQ:LAND) entered into a sale-leaseback deal with Mountain Valley Produce.
    • The deal was financed with $15.5M of paper bearing interest at a fixed rate of 3.05%.
    • CEO David Gladstone: "Eat more potatoes!"
    | Thu, Mar. 3, 5:12 PM | 10 Comments
  • Tue, Feb. 23, 4:47 PM
    • Q4 adjusted FFO of $1.157M or $0.125 per share vs. $930.6K and $0.103 in Q3. Full-year AFFO per share of $.0398 vs. $0.36 in 2014.
    • Net asset value per share of $14.20 vs. $13.64 in Q3. The stock closed today at $8.24.
    • Occupancy rate of 100% flat from Q3. 16,810 acres owned up 13%. 43 farms owned vs. 41.
    • Conference call tomorrow at 8:30 ET
    • Previously: Gladstone Land beats by $0.01, misses on revenue (Feb. 23)
    • LAND flat after hours
    | Tue, Feb. 23, 4:47 PM | 1 Comment