Gladstone Land Corporation

Last price update: 12 Apr 24 23:00 GMT

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Company profile for Gladstone Land Corporation

Gladstone Land Corporation logo

Gladstone Land Corporation, founded in 1997, is a publicly traded real estate investment trust that focuses on the acquisition, ownership, and management of farmland and farm-related properties in the United States. The Company acquires farmland primarily in major agricultural markets and leases it to third-party farmers on a long-term basis. As of December 31, 2020, Gladstone Land owns 127 farms, covering an aggregate of approximately 94,000 acres in 13 states, valued at $1.0 billion.

Gladstone Land’s tenants are primarily engaged in the production of fresh produce, including annual row crops such as vegetables and berries, as well as permanent crops such as almonds, apples, figs, olives, and pistachios. The Company may also invest in other farm-related assets, such as cooling facilities, processing buildings, packaging facilities, and distribution centers.

Gladstone Land has a long track record of paying reliable and growing monthly distributions to its stockholders. Since its initial public offering in January 2013, the Company has paid 93 consecutive monthly cash distributions on its common stock. It has also increased its common distributions 20 times over the past 23 quarters, and the current per-share distribution on its common stock is $0.0449 per month, or $0.5388 per year.

To further support its stockholders, Gladstone Land also declares an annual dividend on its Series A Preferred Stock. The real estate investment trust has announced that it will pay an annual dividend of $1.50 per share on its Series A Preferred Stock. As of December 31, 2020, the Company has paid 11 consecutive quarterly dividends on the Series A Preferred Stock since the initial public offering in January 2013.

Gladstone Land is committed to delivering increased value to its stockholders through dividend growth, accretive acquisitions, and prudent capital management. The real estate investment trust invests in farmland and farm-related properties in the United States and strives to increase stockholder value by acquiring high quality, strategically located farms that provide strong and stable returns. The Company also actively works with its tenants, leveraging their experience and expertise to develop strategies for long-term sustainable returns.

Stock exchanges:
Real Estate
United States