MCLEAN, Va. (AP) _ Gladstone Land Corp. (LAND) on Tuesday reported a key measure of profitability in its fourth quarter.
The real estate investment trust, based in McLean, Virginia, said it had funds from operations of $1.5 million, or 14 cents per share, in the period.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $83,000, or 1 cent per share.
The real estate investment trust specializing in farmland posted revenue of $4.9 million in the period.
For the year, the company reported funds from operations of $5.7 million. Revenue was reported as $17.3 million.
The company's shares have risen 11 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $12.49, a climb of 55 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LAND at https://www.zacks.com/ap/LAND
Keywords: Gladstone Land, Earnings Report