Gladstone Land Q3 AFFO up 60% to $0.21/share; net loss narrows to $0.10; distribution raised 0.44%

GLADSTONE LAND Corp

2022-Q3 EPS reported -$0.30 revenue$64,445,000

Total operating revenues $24.2M, up 19.3% QoQ; net loss to common stockholders $3.6M ($0.10 per share).
AFFO available to common shareholders $7.2M ($0.21 per share), up 60.3% from prior quarter.
Acquired four farms for $37.4M at weighted-average initial cap rate of 6.2%; repaid $16.9M of maturing debt.
Estimated NAV per common share rose $0.96 to $16.56 as of Sept 30, 2022.
Monthly cash distribution increased to $0.0458 per share for Oct–Dec 2022, the 28th hike in 31 quarters.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

GLADSTONE LAND Corp reported third quarter ended September 30, 2022 results: net income approximately $1.8 million, EPS $0.10 per share.

Period: third quarter ended September 30, 2022
Net income: approximately $1.8 million
EPS: $0.10 per share
Result: reported results

Exact text from the filing

Gladstone Land Corporation issued a press release announcing its financial results for the third quarter and three and nine months ended September 30, 2022.

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Source: SEC EDGAR

accession 0001495240-22-000026

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