Overview
U.S. farmland REIT's Q4 operating revenues nearly doubled yr/yr
Q4 net income rose significantly compared to prior-year quarter
Company sold 13 farms for $95.4 mln, resulting in $21.3 mln net gain
Outlook
Gladstone Land expects 2026 revenue recognition pattern similar to 2025
Company evaluating potential sales of select properties
Gladstone Land aims to acquire additional water resources to strengthen farm viability
Result Drivers
LEASE MODIFICATIONS - Shift to participation rents increased Q4 revenues, as fixed base rents were reduced or eliminated on several farms
FARM SALES - Sale of 13 farms resulted in $21.3 mln net gain, impacting overall financial results
CROP SALES - Direct farming operations on almond and pistachio orchards generated $12.2 mln in revenue, contributing to Q4 earnings
Company press release: ID:nACSfQjNxa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 Operating Revenues | $41.45 mln | ||
Q4 EPS | -$0.05 | ||
Q4 Net Income | $4.21 mln | ||
Q4 Adjusted FFO | $14.37 mln |
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 6 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the specialized reits peer group is "buy."
Wall Street's median 12-month price target for Gladstone Land Corp is $10.00, about 11.6% below its February 23 closing price of $11.31
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
Comments