GLADSTONE LAND Corp

Listed Company

LANDCIK 0001495240NasdaqNon-AcceleratedSmaller ReportingReal Estate Investment TrustsMarylandFY ends Dec 31

Period

FY 2025

Revenue

$88.34M

Net Income

$13.53M

Total Assets

$1.24B

Equity

$670.29M

Shares Out

43.14M

Op. Cash Flow

$6.99M

LAND$8.76−14.67% · past yearDBEQ Basic

Daily closing prices

Business

Gladstone Land Corporation is an externally-managed agricultural REIT that owns and leases farmland and water assets, primarily to independent and corporate farming operations, across 14 U.S. states. The company focuses on properties growing fresh produce annual row crops and permanent crops, with lease structures that include fixed rent, variable rent based on gross revenues, and triple-net provisions. Gladstone Land also owns farm-related facilities such as packinghouses and cooling facilities, and may selectively acquire mortgages on farmland and farm-related real estate.

Summary from 10-K filed 2026-02-24

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Lease revenue, net	76	85	90	—	—
Crop sales	12	0	0	—	—
Other operating revenue	50,000	453,000	79,000	0	0
Total operating revenues	88	85	90	89	75
Depreciation and amortization	35	35	37	35	27
Property operating expenses	7	5	4	3	3
Cost of sales	10	0	0	—	—
Base management fee	8	8	9	8	6
Incentive fee	3	109,000	2	3	4
Administration fee	3	2	2	2	2
General and administrative expenses	2	3	3	3	2
Write-off of costs associated with offering of Series E cumulative redeemable preferred stock	547,000	0	0	853,000	0
Impairment charge	4	2	0	0	—
Total operating expenses	71	56	57	55	—
Incentive fee waiver	−3	−109,000	0	0	—
Total operating expenses, net of credits to fees	68	56	57	55	44
Other income	3	3	4	3	2
Interest expense	−20	−22	−24	−26	—
Dividends declared on cumulative term preferred stock	−3	−3	−3	−3	−3
Gain on dispositions of real estate assets, net	14	6	5	—	—
Property and casualty recovery (loss), net	137,000	−284,000	−1	−56,000	68,000
Loss from investments in unconsolidated entities	−26,000	−60,000	−59,000	−73,000	−61,000
Total other expense, net	−7	−16	−19	−29	−28
NET INCOME	14	13	15	5	3
Dividends declared on cumulative redeemable preferred stock	−24	−24	−24	−20	−12
(Loss) gain on extinguishment of cumulative redeemable preferred stock, net	−5,000	505,000	−46,000	−25,000	−23,000
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS	−10	−10	−10	−15	−9
Basic (in dollars per share)	−0.29	−0.29	−0.28	−0.43	−0.29
Diluted (in dollars per share)	−0.29	−0.29	−0.28	−0.43	−0.29
Basic (in shares)	37	36	36	35	30
Diluted (in shares)	37	36	36	35	30
Change in fair value related to interest rate hedging instruments	−3	266,000	−2	—	—
COMPREHENSIVE INCOME ATTRIBUTABLE TO THE COMPANY	11	14	13	15	4

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Real estate, at cost	1,297	1,325	1,384	1,432	1,358
Less: accumulated depreciation	−198	−168	−142	−107	−74
Total real estate, net	1,099	1,157	1,242	1,325	1,284
Lease intangibles, net	3	4	5	6	4
Real estate and related assets held for sale, net	0	46	54	0	—
Cash and cash equivalents	27	18	19	61	17
Crop inventory	2	0	—	—	—
Investments in water assets	42	40	—	—	—
Other assets, net	67	47	69	65	47
TOTAL ASSETS	1,239	1,312	1,387	1,457	1,352
Borrowings under lines of credit	200,000	4	200,000	100,000	100,000
Notes and bonds payable, net	473	524	574	626	668
Accounts payable and accrued expenses	22	18	10	16	11
Total Liabilities	569	625	668	726	762
Commitments and contingencies (Note 9)	—	—	—	—	—
Common stock, $0.001 par value; 48,364,270 shares authorized, 38,014,918 shares issued and outstanding as of December 31, 2025; 48,359,920 shares authorized, 36,184,658 shares issued and outstanding as of December 31, 2024	38,000	36,000	36,000	35,000	34,000
Additional paid-in capital	871	854	856	837	668
Distributions in excess of accumulated earnings	−206	−175	−144	−114	−80
Accumulated other comprehensive income	5	8	7	9	−1
Total Equity	670	687	720	731	587
TOTAL LIABILITIES AND EQUITY	1,239	1,312	1,387	1,457	1,352

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	35	35	37	35	27
Amortization of debt issuance costs	1	1	1	1	1
Amortization of deferred rent assets and liabilities, net	11	2	534,000	−482,000	−581,000
Amortization of right-of-use assets from operating leases and operating lease liabilities, net	100,000	56,000	92,000	90,000	122,000
Loss from investments in unconsolidated entities	26,000	60,000	59,000	73,000	61,000
Write-off of unamortized deferred offering costs associated with cumulative redeemable preferred stock (Series E)	547,000	0	0	798,000	0
Gain on dispositions of real estate assets, net	−14	−6	−5	4	3
Crop inventory	−1	0	0	—	—
Investments in water assets	−1	−4	−2	—	—
Other assets, net	−22	−7	−5	−7	−6
Accounts payable and accrued expenses	−14	−5	−3	6	2
Due to related parties, net	−128,000	−1	−496,000	—	—
Other liabilities, net	−6	−1	962,000	52,000	2
Net cash provided by operating activities	7	30	40	44	32
Capital expenditures on existing real estate assets	−7	−5	−13	−20	−6
Contributions to unconsolidated real estate entities	−68,000	0	0	−3	−2
Proceeds from dispositions of real estate assets, net	91	69	9	0	0
Net cash provided by (used in) investing activities	84	63	−4	−85	−295
Borrowings from lines of credit	3	3	200,000	—	—
Repayments of lines of credit	−6	0	−100,000	—	—
Borrowings from notes and bonds payable	11	0	0	10	68
Repayments of notes and bonds payable	−62	−51	−53	−52	−24
Payments of financing fees	−114,000	−50,000	−192,000	−948,000	−3
Proceeds from issuance of preferred and common equity	17	5	21	188	233
Offering costs	−180,000	−104,000	−763,000	−14	−7
Redemptions of cumulative redeemable preferred stock	−102,000	−7	−1	—	—
Dividends paid on cumulative redeemable preferred stock	−24	−24	−25	−18	−13
Distributions paid on common stock	−20	−20	−20	−19	−16
Net cash used in financing activities	−82	−93	−79	86	270
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	9	−296,000	−43	44	7
Interest paid	23	24	26	25	27
Real estate additions included in Accounts payable and accrued expenses and Due to related parties, net	254,000	802,000	441,000	3	4
Tenant-funded improvements included within Real estate, at cost	0	0	25,000	284,000	1
Stock offering and OP Unit issuance costs included in Accounts payable and accrued expenses and Due to related parties, net	0	4,000	11,000	108,000	3,000
Financing fees included in Accounts payable and accrued expenses and Due to related parties, net	0	0	7,000	42,000	116,000
Dividends paid on Series C Preferred Stock via additional share issuances	0	0	320,000	788,000	185,000

Filings

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Frequently asked questions

What is GLADSTONE LAND Corp's CIK number?

GLADSTONE LAND Corp's SEC CIK number is 0001495240 (1495240). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find GLADSTONE LAND Corp's SEC filings?

All of GLADSTONE LAND Corp's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did GLADSTONE LAND Corp last report earnings?

GLADSTONE LAND Corp (LAND) most recently filed an earnings 8-K with the SEC on May 11, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001495240-26-000017). This is GLADSTONE LAND Corp's most recent earnings filing of record — not a forecast of its next earnings date.

What is GLADSTONE LAND Corp's most recent earnings 8-K?

GLADSTONE LAND Corp's latest earnings 8-K (Item 2.02) was filed May 11, 2026 under accession 0001495240-26-000017. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

View GLADSTONE LAND Corp's latest earnings 8-K →
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