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On May 8, 2025, Gladstone Land (NASDAQ:LAND) Corporation, a real estate investment trust specializing in farmland, held its Annual Meeting of Stockholders, where all proposed items were approved by the company’s shareholders. The company, currently trading at $9.36, has maintained a strong 6.05% dividend yield and has consistently paid dividends for 13 consecutive years, according to InvestingPro data. This information is based on the company’s recent SEC filing.
During the meeting, two directors were elected to serve until the 2028 Annual Meeting of Stockholders. Walter H. Wilkinson, Jr. received 8,930,703 votes for, 7,922,679 withheld, and there were 10,360,775 broker non-votes. Paula Novara was elected with 14,446,794 votes for, 2,406,588 withheld, and the same number of broker non-votes as Wilkinson.
Additionally, the selection of PricewaterhouseCoopers LLP as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2025, was ratified with 26,526,992 votes for, 530,560 against, and 156,605 abstained.
The filing also includes an exhibit, specifically the Cover Page Interactive Data File, which is embedded within the Inline XBRL document.
Gladstone Land Corporation, headquartered in McLean, Virginia, is incorporated in Maryland and is listed on the Nasdaq Stock Market LLC under the trading symbols LAND for its common stock, LANDO for its 6.00% Series B Cumulative Redeemable Preferred Stock, LANDP for its 6.00% Series C Cumulative Redeemable Preferred Stock, and LANDM for its 5.00% Series D Cumulative Term Preferred Stock. Despite recent market challenges, with the stock down 26.3% over the past six months, InvestingPro analysis suggests the company is currently undervalued, with strong fundamentals including a healthy current ratio of 1.21 and robust gross profit margins of 83.9%.
The report was signed by Lewis (JO:LEWJ) Parrish, the company’s Chief Financial Officer, indicating compliance with the requirements of the Securities Exchange Act of 1934.
In other recent news, Gladstone Land Corporation reported mixed financial results for the fourth quarter of 2024. The company posted an earnings per share (EPS) of -$0.151, which was below the forecasted -$0.114. However, Gladstone Land’s revenue slightly exceeded expectations, coming in at $21.1 million compared to the predicted $20.94 million. The company faced a decrease in Adjusted Funds From Operations (FFO) year-over-year, indicating ongoing operational challenges. Despite these hurdles, Gladstone Land successfully sold several farms at a premium, showcasing robust asset management. The company remains cautious about new investments due to high capital costs and plans to reassess its lease structures after the 2025 harvest. Analysts from firms such as Alliance Global Partners (NYSE:GLP) and B. Riley Securities have expressed interest in the company’s lease strategies and the potential impact on future earnings. Gladstone Land’s management has also highlighted the importance of long-term investment in farmland amidst fluctuating market conditions.
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