GLADSTONE LAND Corp

Gladstone Land Corporation announced the election of George "Chip" Stelljes, III to its Board of Directors, effective June 1, 2026. Mr. Stelljes will serve as an independent director in the 2028 class and has been appointed to the Compensation, Ethics, Nominating & Corporate Governance, and Valuation Committees. His appointment expands the board from seven to eight directors, leveraging his over 25 years of experience in investment analysis and management.

Gladstone Land Corporation held its 2026 Annual Meeting of Stockholders on May 14, 2026. Stockholders approved all proposals presented, including the election of two directors and the ratification of the company's independent registered public accounting firm. David Gladstone and John H. Outland were elected as directors to serve until the 2029 Annual Meeting, and PricewaterhouseCoopers, LLP was ratified as the auditor for fiscal year 2026.

Gladstone Land Corporation reported a net loss of $(4.3) million for the first quarter ended March 31, 2026, a decrease from net income of $15.1 million in the prior-year quarter. This was largely due to a timing shift in earnings recognition, with a substantial majority of 2026 revenue and earnings expected in the fourth quarter. Despite the net loss, Adjusted Funds From Operations (AFFO) increased 52.5% to $3.1 million, or $0.08 per share, and cash flows from operations more than doubled to $9.3 million. The company also redeemed $60.6 million in preferred stock, secured a new $37.0 million credit facility, and continued its ATM common stock sales program.

Gladstone Land Corporation reported a net loss of $4.3 million for the first quarter of 2026, a significant decline from a net income of $15.1 million in the prior year period. Net loss attributable to common stockholders was $9.985 million, or $(0.24) per share, compared to net income of $9.106 million, or $0.25 per share, in Q1 2025. Total operating revenues slightly decreased to $16.552 million, while operating expenses rose to $16.601 million, partly due to an $0.9 million impairment charge. The company also redeemed $60.4 million in Series D preferred stock and issued $37.1 million in common equity.

Gladstone Land Corporation and its operating partnership have entered into new Equity Distribution Agreements with Virtu Americas LLC and Lucid Capital Markets, LLC. These agreements enable the company to sell up to $500.0 million of its common stock through "at-the-market" offerings. The sales agents will be compensated up to 3.0% of the gross proceeds from shares sold, providing the company with a flexible mechanism to raise capital.

Gladstone Land Corporation (LAND) filed an 8-K/A on April 7, 2026, to amend its original 8-K from March 13, 2026. This amendment reports the filing of a Certificate of Correction with the Maryland SDAT on April 2, 2026, to rectify "inadvertent immaterial errors" in its Reclassification Articles Supplementary. The corrections primarily involve giving the reclassification of 5.00% Series D Cumulative Term Preferred Stock no force and effect, as there was no Series D Preferred Stock outstanding, and adjusting the authorized amounts of common stock, Series B Preferred Stock, and Series C Preferred Stock. This filing ensures the accuracy of the company's capital structure records and compliance with regulatory disclosures.