Name | Value |
---|---|
Revenues | 23.5M |
Cost of Revenue | 23.5M |
Gross Profit | 0.0M |
Operating Expense | 1.2M |
Operating I/L | 9.4M |
Other Income/Expense | -6.3M |
Interest Income | 6.2M |
Pretax | 3.1M |
Income Tax Expense | -3.5M |
Net Income/Loss | 3.1M |
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.