GLADSTONE LAND Corp

Gladstone Land Corporation (Nasdaq: LAND) operates as an externally-managed agricultural real estate investment trust focused on owning and leasing farmland across the United States. The company's website is www.GladstoneLand.com.

As of December 31, 2025, Gladstone Land owns 144 farms totaling 98,688 acres distributed across 14 states, along with 55,532 acre-feet of water assets in California. The company also owns farm-related facilities including cooling facilities, packinghouses, processing facilities, and storage facilities necessary to support farming operations. Two of the company's properties comprising four farms are directly operated by the company through management agreements and taxable REIT subsidiary arrangements.

The company's farmland portfolio is predominantly concentrated in locations where farmers cultivate either fresh produce annual row crops such as berries and vegetables, or permanent crops including almonds, blueberries, pistachios, and wine grapes. To a lesser extent, the company owns farms growing commodity crops such as corn and beans. Most properties are leased on a triple-net lease basis to independent and corporate farming operations, with lease terms typically ranging from three to ten years for annual row crop farms and seven to fifteen years for permanent crop properties. Some leases include variable rent components based on gross farm revenues, often with guaranteed minimum rental income provisions.

Gladstone Land's investment strategy emphasizes geographic and crop diversification while targeting net capitalization rates generally ranging from four to seven percent of property market values. The company employs leverage through secured mortgage loans to maximize investment capacity and portfolio diversification. The company conducts substantially all business activities through an Umbrella Partnership REIT structure, with properties held directly or indirectly by Gladstone Land Limited Partnership.

The company is externally managed by Gladstone Management Corporation and receives administrative services from Gladstone Administration, LLC. The company does not maintain direct employees; approximately 15 to 25 full-time employees of the Adviser and Administrator dedicate substantial time to company matters, with the combined organizations employing 75 full-time employees across executive management, investment management, and administrative functions.