Name | Value |
---|---|
Revenues | 24.8M |
Cost of Revenue | 0.7M |
Gross Profit | 24.1M |
Operating Expense | 15.4M |
Operating I/L | 8.3M |
Other Income/Expense | -7.2M |
Interest Income | 0.0M |
Pretax | 1.1M |
Income Tax Expense | 6.3M |
Net Income/Loss | -5.2M |
Gladstone Land, founded in 1997, is a real estate investment trust that acquires and owns farmland and farm-related properties in major U.S. agricultural markets. It leases these properties to third-party farmers, owning 127 farms across 13 states, valued at approximately $1.0 billion. The farms produce fresh produce, annual row crops, and permanent crops like almonds, apples, and blueberries. The company also acquires farming-related properties such as cooling facilities and distribution centers. It generates revenue through leasing its properties to farmers and pays monthly distributions to stockholders, with a consistent track record of increasing common distributions over the years.