Gladstone Land: Should You Buy U.S. Farmland As Dividend Coverage Dips?
Summary
- Gladstone Land is currently unable to cover its dividend to common shareholders with AFFO of just $0.06 realized in its fiscal 2025 first quarter.
- The REIT has moved to a variable rent structure on some farms which will reduce fixed rent revenue by roughly $17 million in 2025.
- Cash and cash equivalents ended the first quarter at $42.9 million on the back of Florida and Nebraska farm sales.
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