secwatch.observer — SEC 8-K summary
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Issuer:     GLADSTONE LAND Corp (LAND)
CIK:        0001495240
Form:       8-K
Filed at:   2024-02-20T23:59:59+00:00
Accession:  0001495240-24-000006
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Gladstone Land Q4 AFFO down 17.7% YoY to $5.4M; occupancy 99.5%; post-quarter farm sale yields $10.4M gain
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- Q4 AFFO $5.4M ($0.15/sh) vs $6.6M ($0.19) YoY; net loss to common $4.3M ($0.12).
- FY23 AFFO $20.3M ($0.569/sh) vs $24.3M ($0.701); net loss to common $9.9M ($0.28).
- Executed 30 lease renewals; excluding non-accrual, annual NOI up $1.6M (+8.7%); vacant/direct farms reduced NOI $1.7M.
- Post-quarter sold 3,748-acre FL farm for $65.7M, net gain $10.4M (60% ROE); Q4 sold 138-acre FL for $9.6M (gain $6.4M).
- Common dividend raised 0.22% to $0.0465/mo; 33rd increase in 36 quarters (cumulative 55% increase).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1495240/000149524024000006/0001495240-24-000006-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1495240/000149524024000006/land-20240220.htm
  HTML page:      https://secwatch.observer/filing/0001495240-24-000006

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