Gladstone Land Corp. Preferred Shares (LANDM)

Overview

Founded in 1997, Gladstone Land is a prominent figure in the agricultural industry, operating as a publicly traded real estate investment trust focused on agricultural land. The company primarily engages in acquiring and owning farmland and farm-related properties across major agricultural markets within the United States. These properties are then leased to unrelated third-party farmers who are responsible for the cultivation of the land. Gladstone Land distinguishes itself by regularly reporting the aggregate fair value of its farmland holdings on a quarterly basis. As of the latest figures, Gladstone Land has amassed an impressive portfolio comprising 169 farms, covering approximately 116,000 acres in 15 different states, alongside more than 45,000 acre-feet of banked water in California. The total valuation of these assets stands at approximately $1.6 billion. A significant portion of Gladstone Land’s holdings are dedicated to the growth of fresh produce and annual row crops, such as berries and vegetables, alongside farms cultivating permanent crops including almonds, apples, and pistachios, among others. Reflecting a commitment to sustainability, about 40% of its fresh produce acreage is certified organic or in the process of certification, with over 10% of its permanent crop acreage also meeting these criteria. Additionally, Gladstone Land places importance on investor returns, evidenced by its consistent monthly distributions to stockholders since its initial public offering in January 2013.

Products and Services

• Farmland and Farm-related Property Acquisition and Ownership

Gladstone Land’s core business revolves around the strategic acquisition and ownership of farmland and farm-related properties across the U.S. This includes a diverse portfolio of land dedicated to the cultivation of both fresh produce annual row crops and permanent crops. The company enhances value through leasing these assets to skilled third-party farmers.

• Leasing Services

Leasing its agricultural properties to unrelated third-party farmers, Gladstone Land enables the cultivation of a variety of crops, from berries and vegetables to permanent crops like nuts and fruits. These leasing arrangements are designed to ensure that the lands are utilized efficiently, contributing to the agricultural output while ensuring a steady income stream for the company.

• Real-time Property Value Reporting

Gladstone Land sets itself apart by providing transparent, quarterly reports on the aggregate fair value of its farmland holdings. This practice ensures that investors are well-informed about the company’s asset value, bolstering investor confidence and transparency in reporting.

• Sustainability Initiatives

Approximately 40% of Gladstone Land’s fresh produce acreage is certified organic or in transition to organic, with a significant portion of its permanent crop acreage also adhering to these standards. These initiatives highlight the company’s dedication to sustainable farming practices and environmental stewardship.

• Investor Distributions

Since its IPO in January 2013, Gladstone Land has demonstrated a robust commitment to returning value to its investors through regular monthly distributions. The company has maintained 129 consecutive monthly cash distributions on its common stock, with ongoing increases over time to enhance shareholder yield.