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LAND Gladstone Land

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 137 farms, comprised of approximately 101,000 acres in 13 different states, valued at approximately $1.2 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 10 to 20-plus years and harvested annually. The Company may also acquire property related to farming, such as cooling facilities, processing buildings, packaging facilities, and distribution centers. The Company pays monthly distributions to its stockholders and has paid 96 consecutive monthly cash distributions on its common stock since its initial public offering in January 2013. The Company has increased its common distributions 21 times over the prior 24 quarters, and the current per-share distribution on its common stock is $0.04495 per month or $0.5394 per year.

Company profile

Ticker
LAND, LANDO, LANDM
Exchange
CEO
David Gladstone
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
East Shelton Road, LLC • Reagan Road Willcox, LLC • Spot Road Dateland, LLC • American Avenue Kerman CA, LP • Bear Mountain Arvin, LP • Broadway Road Moorpark, LLC • Calaveras Avenue Coalinga, LP • Cat Canyon Road Los Alamos, LP • Central Avenue Kerman, LP • Dalton Lane Watsonville, LLC ...
IRS number
541892552

LAND stock data

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Calendar

8 Nov 21
2 Dec 21
31 Dec 21
Quarter (USD)
Sep 21 Jun 21 Mar 21 Dec 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 66.49M 66.49M 66.49M 66.49M 66.49M 66.49M
Cash burn (monthly) 99.33K (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) 207.56K n/a n/a n/a n/a n/a
Cash remaining 66.28M n/a n/a n/a n/a n/a
Runway (months of cash) 667.3 n/a n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
18 Oct 21 Caren D Merrick Common Stock By will or laws of descent Acquire W No No 0 1,000 0 5,432
22 Dec 20 Gladstone David Common Stock Gift Acquire G Yes No 0 248,000 0 248,000
2 Mar 20 Gladstone David Common Stock Gift Acquire G Yes No 0 700,000 0 700,000

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

37.6% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 154 148 +4.1%
Opened positions 22 40 -45.0%
Closed positions 16 19 -15.8%
Increased positions 59 56 +5.4%
Reduced positions 43 28 +53.6%
13F shares
Current Prev Q Change
Total value 316.13M 289.62M +9.2%
Total shares 12.88M 12.03M +7.0%
Total puts 71K 136.7K -48.1%
Total calls 56.8K 150.9K -62.4%
Total put/call ratio 1.3 0.9 +38.0%
Largest owners
Shares Value Change
Vanguard 2.97M $67.62M +11.3%
BLK Blackrock 1.92M $43.73M +6.6%
Bowen Hanes & Co 600K $13.66M 0.0%
B&I Capital 544.17K $12.39M +58.2%
Geode Capital Management 538.26K $12.26M +7.1%
STT State Street 516.48K $11.76M +11.0%
MS Morgan Stanley 412.69K $9.4M +51.0%
NTRS Northern Trust 303.48K $6.91M +6.2%
Amundi 279.32K $6.36M +25.4%
Janney Montgomery Scott 258.13K $5.88M +0.0%
Largest transactions
Shares Bought/sold Change
Vanguard 2.97M +302.61K +11.3%
B&I Capital 544.17K +200.12K +58.2%
MS Morgan Stanley 412.69K +139.31K +51.0%
U.S. Capital Wealth Advisors 136.3K +136.3K NEW
Usca Ria 0 -128.9K EXIT
BLK Blackrock 1.92M +119.38K +6.6%
Two Sigma Advisers 118.1K +118.1K NEW
EAM Global Investors 0 -117.32K EXIT
Renaissance Technologies 108.05K +108.05K NEW
Nuveen Asset Management 109.92K -87.97K -44.5%

Financial report summary

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Management Discussion
  • ◦Properties acquired or disposed of are farms that were either acquired or disposed of at any point subsequent to June 30, 2020. From July 1, 2020, through September 30, 2021, we acquired 43 new farms and did not have any farm dispositions.
  • ◦Properties acquired or disposed of are farms that were either acquired or disposed of at any point subsequent to December 31, 2019. From January 1, 2020, through September 30, 2021, we acquired 47 new farms and did not have any farm dispositions.
  • We did not have any vacant or self-operated farms during either of the three and nine months ended September 30, 2021 or 2020.
Content analysis
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Readability
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New words: expenditure, formally, index, retrospectively, tied, underemployment, unemployment
Removed: amendment, Michigan, NaN, reclassified