Gladstone Land Q4 AFFO $0.19/share; FY2022 AFFO up 21.6% to $24.8M; net loss widens to $15.0M

GLADSTONE LAND Corp

2022-FY EPS reported -$0.43 revenue$89,236,000

Q4 net loss to common stockholders $4.8M ($0.14/share) vs $3.6M ($0.10) prior quarter; AFFO $6.8M ($0.19) vs $7.2M ($0.21).
FY2022 AFFO $24.8M ($0.72/share) vs $20.4M ($0.67) in 2021, up 21.6%; net loss to common $15.0M ($0.43) vs $8.7M ($0.29).
Participation rents $7.7M in 2022 vs $5.2M in 2021; acquired 5 farms for $65.1M at 5.8% cap rate; occupancy 100%.
NAV per share $17.08 at Dec 31, 2022, up from $16.56 prior quarter and $14.31 a year ago.
Subsequent: repaid $8.1M bond; commenced Series E Preferred sales; sold 663,585 common shares for $13.0M via ATM.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

GLADSTONE LAND Corp reported financial results for the fourth quarter and year ended December 31, 2022.

Period: the fourth quarter and year ended December 31, 2022
Result: reported results

Exact text from the filing

On February 21, 2023, Gladstone Land Corporation issued a press release announcing its financial results for the fourth quarter and year ended December 31, 2022.

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Source: SEC EDGAR

accession 0001495240-23-000006

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