Gladstone Land Company profile
About Gladstone Land Corp
Gladstone Land Corp is an agricultural real estate investment trust (REIT). The Company is engaged in the business of owning and leasing farmland. It owns approximately 158 farms, comprised of approximately 107,000 acres in 14 states, including California, Florida, Arizona, Colorado, Nebraska, Michigan, Oregon, Washington, Texas, North Carolina, Maryland and Delaware. The Company's farms are located in regions where its tenants are able to grow fresh produce annual row crops, such as berries and vegetables, which are generally planted and harvested annually. It also owns farms growing permanent crops, such as almonds, apples, figs, olives, pistachios, and other orchards, as well as blueberry groves and vineyards. It may also acquire property related to farming, such as cooling facilities, processing buildings, packaging facilities, and distribution centers.
Financial summary
BRIEF: For the fiscal year ended 31 December 2021, Gladstone Land Corp revenues increased 32% to $75.3M. Net loss applicable to common stockholders increased 99% to $8.8M. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Higher net loss reflects Depreciation and amortization increase of 63% to $27.2M (expense), Interest expense increase of 21% to $24.9M (expense).
Equity composition
Common Stock $.001 par, 1/13, 20M auth., 6,083,334 issd. insider own Approx. 45.21%...
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