Gladstone Land Q1 net loss widens to $2.7M; NAV rises to $15.54

GLADSTONE LAND Corp

2022-Q1 EPS reported -$0.08 revenue$19,943,000

Net loss to common stockholders of $2.7M ($0.08/share) vs $1.4M ($0.04) prior quarter.
AFFO of $6.4M ($0.19/share) vs $6.7M ($0.20) prior; revenue down 12.5% to $19.9M.
NAV per share up 8.6% to $15.54 from $14.31, driven by lower debt fair values and farm reappraisals.
Monthly distribution raised 0.22% to $0.0454/share; 26th increase in 29 quarters.
Lease renewals expected to reduce annual NOI by ~$580k due to one participation-rent lease.

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