Gladstone Land Announces Gain on Sale of Florida Farm [Yahoo! Finance]
Gladstone Land Corporation (LAND)
Last gladstone land corporation earnings: 2/19 04:30 pm
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Source: Yahoo! Finance
completed the sale of a farm in Florida for approximately $65.7 million. The investment in this farm provided a 60% return on equity, and the sale price reflected a 22% increase over the original purchase price. "We acquired this property seven years ago through a sale-leaseback with a large vegetable operation. In 2023, we received an offer to purchase the property at a compelling valuation and elected to proceed with the sale. We still own nearly 3,500 acres of farmland that is contiguous to this property being sold, and we plan to hold that property for years to come," said Bill Frisbie, Executive Vice President of Gladstone Land. "Our strategy is generally to buy and hold for the long term, but occasionally we receive an offer that warrants serious consideration. We intend to use a portion of these proceeds to retire $16 million of debt, as well as for other general corporate purposes. Overall, prices of farmland continue to grow over long-term holding periods, and we believe
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LAND
News
- Gladstone Land Announces Increase in Monthly Cash Distributions for April, May and June 2024 and Earnings Release and Conference Call Dates for the First Quarter Ended March 31, 2024 [Yahoo! Finance]Yahoo! Finance
- Gladstone Land Announces Increase in Monthly Cash Distributions for April, May and June 2024 and Earnings Release and Conference Call Dates for the First Quarter Ended March 31, 2024Accesswire
- Gladstone Land: Speculating On A 7.4% Yield To Mandatory Call On Preferreds [Seeking Alpha]Seeking Alpha
- How Much Upside is Left in Gladstone (LAND)? Wall Street Analysts Think 36.67% [Yahoo! Finance]Yahoo! Finance
- Invest Like Bill Gates With This Top Farmland REIT [Yahoo! Finance]Yahoo! Finance
LAND
Earnings
- 2/20/24 - Miss
LAND
Sec Filings
- 3/27/24 - Form DEFA14A
- 3/27/24 - Form DEF
- 2/20/24 - Form 8-K
- LAND's page on the SEC website