Gladstone Land
 (LAND)

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  • Dec. 11, 2015, 9:30 AM
    • The company sold 900K shares at a price of $8.82 each. The underwriter greenshoe is for another 135K shares at that price. The company had hoped to sell about 1.1M shares.
    • LAND -6.9% to $8.45.
    • Previously: Gladstone Land raising capital (Dec. 10)
    | Dec. 11, 2015, 9:30 AM
  • Dec. 11, 2015, 9:16 AM
    | Dec. 11, 2015, 9:16 AM
  • Aug. 5, 2015, 11:15 AM
    • Q2 core FFO of $852K or $0.10 per share. Adjusted FFO of $717K or $0.08 per share. Monthly payout is $0.04 per share, or $0.12 quarterly.
    • Operating revenues of $2.78M up 6% Q/Q. Operating expenses of $1.9M up 13%.
    • Farms owned of 36 up from 34 a quarter earlier. Acres owned of 11,467 up from 8,789. Occupancy rate of 100%. Farmland portfolio value of $231.5M up 7.7%. NAV per share of $13.42 slips from $13.91 after secondary offering during Q.
    • CEO David Gladstone: "We expect to be very active over the next few months, as we have $30M of potential farmland purchases under signed purchase agreements." He notes lease renewals thus far this year have been at average rental rate increases of more than 15%.
    • Previously: Gladstone Land beats by $0.01, revenue in-line (Aug. 4)
    • LAND +2.25%
    | Aug. 5, 2015, 11:15 AM
  • May 13, 2015, 10:47 AM
    • The offering size was upsized to 1.25M shares from 1.1M and priced at $11.40 each for estimated net proceeds of $13.3M. The underwriters have an option to buy up to another 187.5K shares at that price.
    • Should the greenshoe be exercised, it would boost the float by nearly 20%.
    • LAND -5.6% to $11.15.
    • Previously: Gladstone Land secondary offering (May 12)
    | May 13, 2015, 10:47 AM
  • Sep. 24, 2014, 9:45 AM
    • The company priced its 1.15M share secondary offering at $12.28 each, and the underwriters have the option of buying another 172.5K shares at that price. Net proceeds to Gladstone (LAND -5.4%) are expected to be about $13.3M (exclusive of the greenshoe).
    • The offering boosted the float by about 17.6%. The opening decline puts the stock price at $12.10.
    • Previously: Gladstone Land pulls $4.3M in cash from farms
    | Sep. 24, 2014, 9:45 AM | 3 Comments
  • Sep. 24, 2014, 9:20 AM
    | Sep. 24, 2014, 9:20 AM
  • Sep. 23, 2014, 4:16 PM
    • A sizable pipeline of acquisition targets on its radar, Gladstone Land (NASDAQ:LAND) is selling 1.15M shares in a secondary offering, with the underwriters granted a greenshoe option of 172.5K shares.
    • The stock's lower by 1.3% AH.
    • Previously: Gladstone Land pulls $4.3M in cash from farms
    | Sep. 23, 2014, 4:16 PM
  • Aug. 5, 2014, 12:18 PM
    • 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
    | Aug. 5, 2014, 12:18 PM
Company Description
Gladstone Land Corp is an externally-managed real estate company. It invests in farmlands located in agricultural markets throughout the United States of America. The Company also owns six farms in California and Florida each.