Gladstone Land Corporation (LAND)

12.39 +0.04 (+0.30%) At close: 04:00PM EDT

Gladstone Land Corporation

1521 Westbranch Drive
Suite 100
McLean, VA 22102-3211
United States
703 287 5800
https://www.gladstonefarms.com

Sector(s): Real Estate
Industry: REIT - Specialty
Full Time Employees: 

Key Executives

Name	Title	Pay	Exercised	Year Born
Ms. Paula Novara	Head of Resource Management & Director	N/A	N/A	1970
Mr. David John Gladstone	Founder, Chairman, CEO & President	57.75k	N/A	1942
Mr. Lewis Parrish CPA	CFO & Assistant Treasurer	71.9k	N/A	1979
Mr. Terry Lee Brubaker	Chief Operating Officer	N/A	N/A	1944
Ms. Karin McLaughlin	Investor Relations Specialist	N/A	N/A	N/A
Mr. John Anthony Dellafiora Jr., CPA	Chief Compliance Officer	N/A	N/A	N/A
Mr. Michael Bernard LiCalsi Esq., J.D.	General Counsel & Secretary	N/A	N/A	1970
Mr. William Reiman	Executive Vice President of West Coast Operations	N/A	N/A	1970
Ms. Jennifer A. Smith	Chief Valuation Officer	N/A	N/A	N/A
Mr. Jay Beckhorn	Treasurer	N/A	N/A	1962

Amounts are as of December 31, 2023 and compensation values are for the last fiscal year ending on that date. Pay is salary, bonuses, etc. Exercised is the value of options exercised during the fiscal year. Currency in USD.

Description

Founded in 1997, Gladstone Land is a publicly traded real estate investment trust that acquires and owns farmland and farm-related properties located in major agricultural markets in the U.S. and leases its properties to unrelated third-party farmers. The Company, which reports the aggregate fair value of its farmland holdings on a quarterly basis, currently owns 169 farms, comprised of approximately 116,000 acres in 15 different states and over 45,000 acre-feet of banked water in California, valued at a total of approximately $1.6 billion. Gladstone Land's farms are predominantly located in regions where its tenants are able to grow fresh produce annual row crops, such as berries and vegetables, which are generally planted and harvested annually. The Company also owns farms growing permanent crops, such as almonds, apples, cherries, figs, lemons, olives, pistachios, and other orchards, as well as blueberry groves and vineyards, which are generally planted every 20-plus years and harvested annually. Approximately 40% of the Company's fresh produce acreage is either organic or in transition to become organic, and over 10% of its permanent crop acreage falls into this category. The Company may also acquire property related to farming, such as cooling facilities, processing buildings, packaging facilities, and distribution centers. Gladstone Land pays monthly distributions to its stockholders and has paid 129 consecutive monthly cash distributions on its common stock since its initial public offering in January 2013. The Company has increased its common distributions 32 times over the prior 35 quarters, and the current per-share distribution on its common stock is $0.0464 per month, or $0.5568 per year.

Corporate Governance

Gladstone Land Corporation’s ISS Governance QualityScore as of April 1, 2024 is 9. The pillar scores are Audit: 6; Board: 10; Shareholder Rights: 9; Compensation: 6.

Corporate governance scores courtesy of Institutional Shareholder Services (ISS). Scores indicate decile rank relative to index or region. A decile score of 1 indicates lower governance risk, while a 10 indicates higher governance risk.