secwatch.observer — SEC 8-K summary
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Issuer:     GLADSTONE LAND Corp (LAND)
CIK:        0001495240
Form:       8-K
Filed at:   2024-11-06T23:59:59+00:00
Accession:  0001495240-24-000030
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Gladstone Land Q3 net loss widens to $5.8M; AFFO per share down 15.7% YoY
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- Net loss to common stockholders $5.8M ($0.16/share) vs $3.0M loss ($0.08) prior year; AFFO $0.13/share vs $0.15.
- Total operating revenue $22.6M, down 4.1% YoY; fixed base cash rents fell $2.6M partly from Florida farm sale.
- NAV per share fell 23.4% to $15.57 from $20.33, driven by farm reappraisals and higher interest rates.
- Leased 21 farms; annual row crop NOI +11% but permanent crop NOI -15% due to lease restructuring.
- Subsequent: selling 11 Michigan blueberry farms for ~$5.0M; raised $4.6M via ATM common offering.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1495240/000149524024000030/0001495240-24-000030-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1495240/000149524024000030/land-20241106.htm
  HTML page:      https://secwatch.observer/filing/0001495240-24-000030

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