REIT that owns and leases farmland in the United States, specializing in annual and permanent crops.
Founded in 1997, Gladstone Land Corporation operates as a publicly traded real estate investment trust (REIT), specializing in the acquisition and ownership of farmland and farm-related properties situated in key agricultural markets across the United States. The company leases these properties to independent third-party farmers, providing them with essential agricultural infrastructure.
Gladstone Land Corporation periodically reports the aggregate fair value of its extensive farmland holdings, which currently encompass 127 farms spanning approximately 94,000 acres across 13 states. Valued at approximately $1.0 billion, these properties are strategically located in regions conducive to growing fresh produce and annual row crops such as berries and vegetables, which are typically planted and harvested on an annual basis.
Beyond annual crops, Gladstone Land also owns farms dedicated to permanent crops including almonds, apples, figs, olives, pistachios, as well as blueberry groves and vineyards. These crops are planted every 10 to 20-plus years and harvested annually, diversifying the company's agricultural portfolio and investment strategy.
In addition to farmland, Gladstone Land Corporation may acquire related properties that support farming operations, including cooling facilities, processing buildings, packaging facilities, and distribution centers. The company is committed to delivering value to its investors through monthly cash distributions, having maintained a record of 93 consecutive monthly distributions on its common stock since its initial public offering in January 2013. With a history of increasing distributions and a current per-share distribution rate of $0.0449 per month ($0.5388 annually), Gladstone Land continues to prioritize sustainable growth and shareholder returns in the agricultural real estate sector.