secwatch.observer — SEC 8-K summary
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Issuer:     GLADSTONE LAND Corp (LAND)
CIK:        0001495240
Form:       8-K
Filed at:   2023-11-07T23:59:59+00:00
Accession:  0001495240-23-000029
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Gladstone Land Q3 AFFO down 22.5% YoY to $5.6M ($0.15/sh); NAV rises to $20.33
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- Net income $3.1M vs $1.8M YoY; net loss to common $3.0M ($0.08/sh) improved from $3.6M loss.
- AFFO $5.6M ($0.155/sh) vs $7.2M ($0.207/sh) YoY; driven by lower cash rents and higher fees.
- Total operating revenues $23.5M, down 2.8% from $24.2M; fixed base cash rent fell 2.0%.
- Estimated NAV per share increased 22.8% YoY to $20.33; occupancy 100%, 169 farms.
- Lease amendments added $210K annual NOI; acquired 7,000 acre-feet of CA water rights for $1.2M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1495240/000149524023000029/0001495240-23-000029-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1495240/000149524023000029/land-20231107.htm
  HTML page:      https://secwatch.observer/filing/0001495240-23-000029

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