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

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.)