Gladstone Land Q2 net income $7.9M; AFFO per share down 17% YoY to $0.11

GLADSTONE LAND Corp

2023-Q2 EPS reported -$0.07 revenue$42,412,000

Net income to common stockholders $1.7M ($0.05 per share) vs net loss of $3.9M ($0.11) in prior-year quarter.
AFFO fell to $3.8M ($0.11 per share) from $4.5M ($0.13) in Q2 2022, down 14.3%.
NAV per share rose 22.8% to $19.15; monthly distribution increased to $0.0462 per share (up 0.43% run rate).
Sold a 138-acre Florida parcel for $9.6M, net gain of $6.4M; executed 12 lease renewals with net NOI impact.
Total operating revenues $21.2M, up 4.5% YoY; cash flows from operations $17.9M, up 51.4%.

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 0.95

GLADSTONE LAND Corp reported the second quarter ended June 30, 2023 results: net income approximately $7.9 million, EPS $0.05 per share.

Period: the second quarter ended June 30, 2023
Net income: approximately $7.9 million
EPS: $0.05 per share
Result: reported results

Exact text from the filing

Net income for the quarter was approximately $7.9 million, compared to approximately $613,000 in the prior-year quarter. Net income to common stockholders during the quarter was approximately $1.7 million, or $0.05 per share, compared to a net loss to common stockholders of approximately $3.9 million, or $0.11 per share, in the prior-year quarter.

View on SEC.gov

Browse all earnings releases →

GLADSTONE LAND Corp filing history →

Source: SEC EDGAR

accession 0001495240-23-000022

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.