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Gladstone Land Corporation LAND

Listed / Traded Specialty NASDAQ Mgmt:

Founded in 1997, Gladstone Land is a publicly traded real estate investment trust that owns farmland and farm-related properties located in major agricultural markets in the U.S. The Company currently owns 144 farms, comprised of approximately 99,000 acres in 14 different states and nearly 56,000 acre-feet (or over 18.1 billion gallons) of water assets in California. 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, blueberries, figs, olives, pistachios, and wine grapes, which are generally planted every 20-plus years and harvested annually.

Snapshot

Price
$8.57
Market cap
$369.68M
Enterprise value
$849.28M
Dividend yieldi
6.54%
Annual dividendi
$0.56
Frequency
Monthly
FFO / sharei
$0.04 · Q1 2026
AFFO / sharei
$0.08 · Q1 2026
Net debt / EBITDAi
9.10x · GAAP est.
Op. cash flow / sharei
$0.19
Price / OCFi
44.74
Payout (% of OCF)i
292.55%
Debt / book capitali
41.50%
Premium / disc. to NAVi
No free consensus-NAV source
Credit ratingi
No free ratings feed

Reported FFO / AFFO / leverage are from the Q1 2026 earnings release (filed 2026-05-11) — 8-K, EX-99.1.

Yield uses the latest declared dividend, annualized (latest regular payout × frequency; special/liquidating distributions excluded) — an announced-but-not-yet-declared change isn't reflected until it has an ex-date. FFO, AFFO and Net debt / Adj. EBITDA are the company's reported figures from its latest earnings 8-K. Price/OCF and payout use GAAP operating cash flow. NAV premium and credit ratings have no free source yet. See Methodology.

Balance sheet (latest FY: 2025)

Total debt
$537.91M
Cash
$27.18M
Net debt / EBITDAi
9.10x
Debt / book capitali
41.50%
Total assets
$1.24B
Total equity
$670.29M
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Debt-maturity ladder, fixed/floating split, secured/unsecured and coverage ratios come from the supplemental — not yet ingested.

Financial history

FYRevenueNet incomeD&A EBITDAOp. cash flow
2025 $88.34M $13.53M $34.55M $71.12M $6.99M
2024 $85.22M $13.29M $35.11M $70.29M $29.55M
2023 $90.40M $14.56M $37.25M $75.48M $40.08M
2022 $89.24M $4.71M $35.46M $65.91M $43.79M
2021 $75.32M $3.50M $27.30M $55.70M $32.38M
2020 $57.03M $4.93M $16.70M $42.28M $25.00M

Dividends

Ex-dateRecordPaymentDeclaredAmountFreq.
2026-06-232026-06-232026-06-30 2026-04-14$0.05Monthly
2026-05-202026-05-202026-05-29 2026-04-14$0.05Monthly
2026-04-242026-04-242026-04-30 2026-04-14$0.05Monthly
2026-03-232026-03-232026-03-31 2026-01-13$0.05Monthly
2026-02-182026-02-182026-02-27 2026-01-13$0.05Monthly
2026-01-232026-01-232026-01-30 2026-01-13$0.05Monthly
2025-12-222025-12-222025-12-31 2025-10-14$0.05Monthly
2025-11-172025-11-172025-11-26 2025-10-14$0.05Monthly
2025-10-242025-10-242025-10-31 2025-10-14$0.05Monthly
2025-09-222025-09-222025-09-30 2025-07-10$0.05Monthly
2025-08-202025-08-202025-08-29 2025-07-10$0.05Monthly
2025-07-212025-07-212025-07-31 2025-07-10$0.05Monthly
2025-06-202025-06-202025-06-30 2025-04-08$0.05Monthly
2025-05-212025-05-212025-05-30 2025-04-08$0.05Monthly
2025-04-212025-04-212025-04-30 2025-04-08$0.05Monthly
2025-03-192025-03-192025-03-31 2025-01-14$0.05Monthly
2025-02-192025-02-192025-02-28 2025-01-14$0.05Monthly
2025-01-242025-01-242025-01-31 2025-01-14$0.05Monthly
2024-12-202024-12-202024-12-31 2024-10-08$0.05Monthly
2024-11-202024-11-202024-11-29 2024-10-08$0.05Monthly
2024-10-222024-10-222024-10-31 2024-10-08$0.05Monthly
2024-09-202024-09-202024-09-30 2024-07-09$0.05Monthly
2024-08-212024-08-212024-08-30 2024-07-09$0.05Monthly
2024-07-222024-07-222024-07-31 2024-07-09$0.05Monthly

Coverage (payout of operating cash flow): 292.55%. Tax-character split (ordinary / 199A / capital gain / return of capital) — not disclosed (requires the annual allocation release).

Same-store NOI, occupancy, leasing/WALT, top tenants, external-manager fees, development pipeline and (for non-traded vehicles) share-class fees, redemption/gating and NAV methodology are planned modules sourced from supplementals and prospectuses.

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