secwatch.observer — SEC 8-K summary
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Issuer:     GLADSTONE LAND Corp (LAND)
CIK:        0001495240
Form:       8-K
Filed at:   2024-05-07T23:59:59+00:00
Accession:  0001495240-24-000015
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Gladstone Land Q1 net income $13.6M on $10.4M farm gain; AFFO falls 13%
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- Net income to common stockholders $7.4M ($0.21/sh) vs net loss $4.3M ($0.12) YoY; AFFO fell 13% to $5.1M ($0.14).
- Total operating revenues down 4.5% to $20.3M; cash lease revenues fell 6.3% on Florida farm sale and vacancies.
- Sold 3,748-acre Florida farm for $65.7M, net gain of $10.4M; proceeds used to reduce debt by $16.2M.
- Common dividend run rate raised 0.22% to $0.0466/month; 34th increase in 37 quarters, cumulative 55.3%.
- NAV per share rose to $18.50 from $17.12; occupancy 98.9% with 5 farms vacant or direct-operated.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1495240/000149524024000015/0001495240-24-000015-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1495240/000149524024000015/land-20240507.htm
  HTML page:      https://secwatch.observer/filing/0001495240-24-000015

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