LAND - Gladstone Land Corporation

NasdaqGS - NasdaqGS Real Time Price. Currency in USD

Gladstone Land Corporation

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

SectorReal Estate
IndustryREIT - Industrial
Full Time Employees

Key Executives

NameTitlePayExercisedYear Born
Mr. Lewis ParrishCFO & Assistant Treasurer71.9kN/A1979
Mr. David John GladstoneFounder, Chairman, CEO & PresN/AN/A1942
Mr. Terry Lee BrubakerVice Chairman & COON/AN/A1944
Ms. Karin McLaughlinInvestor Relations SpecialistN/AN/AN/A
Mr. John Anthony Dellafiora Jr.Chief Compliance OfficerN/AN/AN/A
Amounts are as of December 31, 2018 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., which it leases to unrelated third-party farmers. The Company reports the aggregate fair value of its farms on a quarterly basis, and as of June 30, 2019, the estimated net asset value of its common stock was $11.61 per share. The Company currently owns 92 farms, comprised of 79,796 acres in 10 different states, valued at approximately $735 million. The 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, figs, olives, pistachios, and other orchards, as well as groves of blueberries and vineyards, which are generally planted every 10 to 20-plus years and harvested annually. The Company may also acquire property related to farming, such as cooling facilities, processing buildings, packaging facilities, and distribution centers. The Company pays monthly distributions to its stockholders and has paid 78 consecutive monthly cash distributions on its common stock since its initial public offering in January 2013. The current per-share distribution on its common stock is 0.04455 per month, or 0.5346 per year.

Corporate Governance

Gladstone Land Corporation’s ISS Governance QualityScore as of July 29, 2019 is 8. The pillar scores are Audit: 1; Board: 9; Shareholder Rights: 10; Compensation: 2.

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.