Company Description
Founded in 1997, Gladstone Land is a publicly traded real estate investment trust that acquires and owns farmland and farm-related properties located in major agricultural markets in the U.S. and leases its properties to unrelated third-party farmers.
The Company, which reports the aggregate fair value of its farmland holdings on a quarterly basis, currently owns 169 farms, comprised of approximately 116,000 acres in 15 different states and over 45,000 acre-feet of banked water in California, valued at a total of approximately $1.6 billion.
Gladstone Land's farms are predominantly 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.
The Company also owns farms growing permanent crops, such as almonds, apples, cherries, figs, lemons, olives, pistachios, and other orchards, as well as blueberry groves and vineyards, which are generally planted every 20-plus years and harvested annually.
Approximately 40% of the Company's fresh produce acreage is either organic or in transition to become organic, and over 10% of its permanent crop acreage falls into this category.
The Company may also acquire property related to farming, such as cooling facilities, processing buildings, packaging facilities, and distribution centers.
Gladstone Land pays monthly distributions to its stockholders and has paid 129 consecutive monthly cash distributions on its common stock since its initial public offering in January 2013.
The Company has increased its common distributions 32 times over the prior 35 quarters, and the current per-share distribution on its common stock is $0.0464 per month, or $0.5568 per year.
| Country | United States |
| IPO Date | Jan 29, 2013 |
| Industry | REIT - Specialty |
| Sector | Real Estate |
| Employees | 70 |
| CEO | David John Gladstone |
Contact Details
Address: 1521 Westbranch Drive, Suite 100 Mclean, Virginia 22102 United States | |
| Phone | 703-287-5800 |
| Website | gladstonefarms.com |
Stock Details
| Ticker Symbol | LAND |
| Exchange | NASDAQ |
| Fiscal Year | January - December |
| Reporting Currency | USD |
| CIK Code | 0001495240 |
| CUSIP Number | 376549101 |
| ISIN Number | US3765491010 |
| Employer ID | 54-1892552 |
| SIC Code | 6798 |
Key Executives
| Name | Position |
|---|---|
| Paula Novara | Head of Resource Management and Director |
| David John Gladstone | Founder, Chairman, Chief Executive Officer and President |
| Lewis Parrish CPA | Chief Financial Officer and Assistant Treasurer |
| Terry Lee Brubaker | Chief Operating Officer |
| Karin McLaughlin | Investor Relations Specialist |
| John Anthony Dellafiora Jr., CPA | Chief Compliance Officer |
| Michael Bernard LiCalsi Esq., J.D. | General Counsel and Secretary |
| William Reiman | Executive Vice President of West Coast Operations |
| Jennifer A. Smith | Chief Valuation Officer |
| Jay Beckhorn | Treasurer |
Latest SEC Filings
| Date | Type | Title |
|---|---|---|
| Mar 27, 2024 | DEFA14A | Additional definitive proxy soliciting materials and Rule 14(a)(12) material |
| Mar 27, 2024 | DEF 14A | Other definitive proxy statements |
| Feb 20, 2024 | 8-K | Current Report |
| Feb 20, 2024 | 10-K | Annual Report |
| Feb 13, 2024 | SC 13G/A | [Amend] Statement of acquisition of beneficial ownership by individuals |
| Jan 26, 2024 | SC 13G/A | [Amend] Statement of acquisition of beneficial ownership by individuals |
| Jan 16, 2024 | SC 13G/A | [Amend] Statement of acquisition of beneficial ownership by individuals |
| Dec 18, 2023 | 8-K | Current Report |
| Nov 7, 2023 | 8-K | Current Report |
| Nov 7, 2023 | 10-Q | Quarterly Report |