Gladstone Land Corporation (LAND): Business Model Canvas

Tauchen Sie ein in die innovative Welt der Gladstone Land Corporation (LAND), einem einzigartigen Investmentfonds für Agrarimmobilien, der Ackerland in eine anspruchsvolle Investitionsmöglichkeit verwandelt. Durch den strategischen Erwerb und die Verwaltung wichtiger landwirtschaftlicher Grundstücke in mehreren Bundesstaaten bietet LAND Anlegern eine überzeugende Alternative zu herkömmlichen Immobilieninvestitionen. Dieses Geschäftsmodell-Canvas zeigt, wie das Unternehmen Werte schafft, indem es stabile Erträge, nachhaltige Landbewirtschaftung und potenzielle langfristige Vermögenssteigerungen bietet, was es zu einer interessanten Option für Anleger macht, die nach Möglichkeiten mit geringer Volatilität im stets kritischen Agrarsektor suchen.

Gladstone Land Corporation (LAND) – Geschäftsmodell: Wichtige Partnerschaften

Landbesitzer

Im vierten Quartal 2023 besaß die Gladstone Land Corporation 169 Farmen mit einer Gesamtfläche von 113.283 Acres in 15 Bundesstaaten. Details zur Partnerschaft:

Staat	Anzahl der Farmen	Gesamtfläche
Kalifornien	47	35.612 Acres
Florida	32	22.541 Hektar
Andere Staaten	90	55.130 Hektar

Regionale Agrarinvestitionsfirmen

Zu den wichtigsten Investitionspartnerschaften gehören:

• Farmland Partners Inc.
• Partner für landwirtschaftliches Investitionsmanagement
• TIAA-CREF Abteilung für Agrarinvestitionen

Farm-Management-Unternehmen

Gladstone Land Corporation arbeitet mit spezialisierten Agrarmanagementfirmen zusammen:

Verwaltungsgesellschaft	Betriebe verwaltet	Pflanzenarten
Western Ag Management	38 Bauernhöfe	Mandeln, Beeren
Landwirtschaftliche Dienstleistungen in Florida	22 Bauernhöfe	Erdbeeren, Gemüse

Anbieter von landwirtschaftlicher Ausrüstung und Technologie

Investitionen in Technologiepartnerschaften:

• Präzisionslandwirtschaftslösungen von John Deere
• Digitale Landwirtschaftsplattformen der Climate Corporation
• Landtechniksysteme von Trimble

Mitarbeiter des Netzwerks für nachhaltige Landwirtschaft

Kennzahlen zur Nachhaltigkeitspartnerschaft:

Nachhaltigkeitsorganisation	Zertifizierte Acres	Nachhaltigkeitsfokus
Netzwerk für nachhaltige Landwirtschaft	45.312 Hektar	Bio-Zertifizierung
Allianz für regenerative Landwirtschaft	33.771 Acres	Bodengesundheitsprogramme

Wert der finanziellen Partnerschaft: 582,4 Millionen US-Dollar an gesamten landwirtschaftlichen Vermögenswerten zum 31. Dezember 2023

Gladstone Land Corporation (LAND) – Geschäftsmodell: Hauptaktivitäten

Erwerb und Verwaltung landwirtschaftlicher Flächen

Im vierten Quartal 2023 besaß die Gladstone Land Corporation 164 Farmen mit einer Gesamtfläche von etwa 113.147 Acres in 15 Bundesstaaten. Das gesamte Agrarlandportfolio hat einen Wert von 1,3 Milliarden US-Dollar.

Landportfolio-Metrik	Menge
Gesamtzahl der Farmen	164
Gesamtfläche	113,147
Vertretene Staaten	15
Gesamtwert des Portfolios	1,3 Milliarden US-Dollar

Immobilieninvestitionen und -leasing

Die Leasingeinnahmen für 2023 erreichten 70,3 Millionen US-Dollar bei einer durchschnittlichen Leasingdauer von 11,9 Jahren.

• Durchschnittlicher Pachtzins: 597 USD pro Acre jährlich
• Auslastung: 99,4 %
• Mieterbindungsrate: 92,3 %

Portfoliodiversifizierung über verschiedene Pflanzenarten

Erntetyp	Prozentsatz des Portfolios
Dauerkulturen	67%
Einjährige Pflanzen	33%

Nachhaltige landwirtschaftliche Flächenentwicklung

Im Jahr 2023 wurden 45,2 Millionen US-Dollar in Landverbesserungen und nachhaltige landwirtschaftliche Infrastruktur investiert.

• Bei 22 % des Portfolios wurden wassereffiziente Bewässerungssysteme implementiert
• Initiativen zur Kohlenstoffbindung auf 37 landwirtschaftlichen Betrieben

Pächter-Farmer-Relationship-Management

Pflege der Beziehungen zu 89 einzelnen landwirtschaftlichen Pächtern im Jahr 2023.

Mieterbeziehungsmetrik	Wert
Gesamtzahl der einzelnen Mieter	89
Durchschnittliche Mieterbeziehungsdauer	7,6 Jahre
Jährliche Kontaktpunkte zur Mieterkommunikation	4-6 pro Mieter

Gladstone Land Corporation (LAND) – Geschäftsmodell: Schlüsselressourcen

Umfangreiches Portfolio landwirtschaftlicher Flächen

Im vierten Quartal 2023 besitzt die Gladstone Land Corporation 164 Farmen mit einer Fläche von 115.000 Acres in 15 Bundesstaaten. Gesamtwert des Portfolios: 1,4 Milliarden US-Dollar.

Staat	Anzahl der Farmen	Hektar
Kalifornien	45	38,500
Florida	22	25,000
Andere Staaten	97	51,500

Erfahrenes Team für Immobilien- und Agrarinvestitionen

Führungsteam mit durchschnittlich 22 Jahren Erfahrung im Agrarinvestment.

• David Gladstone, Vorsitzender: 54 Jahre in der Investmentbranche
• Lewis Parrish, Präsident: 25 Jahre im Agrarimmobilienbereich
• 15 Vollzeit-Investmentprofis

Starkes Finanzkapital

Finanzkennzahlen zum 31. Dezember 2023:

• Marktkapitalisierung: 652 Millionen US-Dollar
• Gesamtvermögen: 1,68 Milliarden US-Dollar
• Verhältnis von Schulden zu Eigenkapital: 0,65
• Jahresumsatz: 89,4 Millionen US-Dollar

Möglichkeiten zur Grundstücksbewertung

Proprietäre Bewertungsmethodik Einschließlich:

• Analyse der Pflanzenproduktivität
• Bewertung der Wasserrechte
• Kennzahlen zur Bodenqualität
• Klimaresilienzfaktoren

Geografische Landvielfalt

Region	Prozentsatz des Portfolios	Primärkulturen
Westküste	42%	Beeren, Nüsse, Gemüse
Südwesten	18%	Zitrusfrüchte, Getreide
Mittlerer Westen	25%	Mais, Sojabohnen
Südosten	15%	Erdbeeren, Gemüse

Gladstone Land Corporation (LAND) – Geschäftsmodell: Wertversprechen

Stabile Einkommensgenerierung durch landwirtschaftliche Landinvestitionen

Im vierten Quartal 2023 besitzt die Gladstone Land Corporation 169 Farmen mit einer Fläche von 115.000 Acres in 15 Bundesstaaten. Gesamtwert des Portfolios: 1,4 Milliarden US-Dollar. Die Mieteinnahmen für 2023 erreichten 54,3 Millionen US-Dollar, bei einer durchschnittlichen Pachtrate von 470 US-Dollar pro Acre.

Metrisch	Wert
Gesamtzahl der Farmen	169
Gesamtfläche	115,000
Portfoliowert	1,4 Milliarden US-Dollar
Jährliche Mieteinnahmen	54,3 Millionen US-Dollar

Alternative zur Immobilienanlage mit geringer Volatilität

Die historische Leistung zeigt die Stabilität landwirtschaftlicher Flächen:

• Durchschnittliche jährliche Rendite: 10,7 % von 1992–2022
• Geringere Korrelation mit der Volatilität an den Aktienmärkten
• Kontinuierlicher Cashflow aus langfristigen landwirtschaftlichen Pachtverträgen

Engagement in der Anlageklasse „Essential Farmland“.

Pflanzenvielfalt im Portfolio: 52 verschiedene Kulturen in allen Betrieben, darunter:

Kategorie „Zuschneiden“.	Prozentsatz des Portfolios
Dauerkulturen	47%
Einjährige Pflanzen	53%

Nachhaltiger und umweltbewusster Anlageansatz

Umweltkennzahlen für 2023:

• Potenzial zur Kohlenstoffbindung: Geschätzte 250.000 Tonnen pro Jahr
• Wasserschutzmaßnahmen werden auf 78 % der eigenen landwirtschaftlichen Betriebe umgesetzt
• 35 % des Portfolios umfassen biologische und nachhaltige Anbaumethoden

Potenzielle langfristige Wertsteigerung landwirtschaftlicher Nutzflächen

Daten zur Grundstückswertsteigerung:

Zeitraum	Durchschnittliche jährliche Grundstückswertsteigerung
Letzte 10 Jahre	6.2%
Letzte 5 Jahre	8.7%

Gladstone Land Corporation (LAND) – Geschäftsmodell: Kundenbeziehungen

Langfristige Pachtverträge mit professionellen Landwirten

Im vierten Quartal 2023 unterhält die Gladstone Land Corporation 169 Farmen auf 117.000 Acres in 16 Bundesstaaten. Die durchschnittliche Mietdauer beträgt 12,3 Jahre mit aktuellen jährlichen Mieteinnahmen von 56,3 Millionen US-Dollar.

Mietmetrik	Wert
Gesamtzahl der Farmen	169
Gesamtfläche	117,000
Durchschnittliche Mietdauer	12,3 Jahre
Jährliche Mieteinnahmen	56,3 Millionen US-Dollar

Transparente Finanzberichterstattung

Bei der SEC eingereichte vierteljährliche Finanzberichte enthalten detaillierte Leistungskennzahlen auf Betriebsebene. Im Jahr 2023 wurden 4 umfassende Quartalsberichte mit einer Datengenauigkeit von 98,7 % veröffentlicht.

Aktives Portfoliomanagement

• Echtzeit-Portfolioverfolgung von landwirtschaftlichen Vermögenswerten
• Vierteljährliche Überprüfung der Vermögensleistung
• Proaktive Investitionen in die landwirtschaftliche Infrastruktur

Personalisierte Anlegerkommunikation

Das Investor-Relations-Team verwaltet die direkten Kommunikationskanäle. Im Jahr 2023 wurden 87 individuelle Anlegergespräche und 4 vierteljährliche Gewinngespräche mit einer Beteiligungsquote der Anleger von 92 % durchgeführt.

Kennzahl der Anlegerkommunikation	Leistung 2023
Individuelle Investorentreffen	87
Vierteljährliche Gewinnaufrufe	4
Beteiligungsquote der Anleger	92%

Regelmäßige Leistungsaktualisierungen für Aktionäre

Aktionäre erhalten monatlich digitale Performanceberichte. Im Jahr 2023 lag die durchschnittliche Beteiligungsrate der Aktionäre bei 76,5 %, die Öffnungsrate für digitale Berichte lag bei 64,3 %.

• Monatliche digitale Leistungsberichte
• Umfassende Leistungskennzahlen für landwirtschaftliche Anlagen
• Verfolgung der Anlagerendite

Gladstone Land Corporation (LAND) – Geschäftsmodell: Kanäle

Direktes Investor-Relations-Team

Gladstone Land Corporation unterhält ein engagiertes Investor-Relations-Team mit Sitz in 1521 Westbranch Drive, McLean, VA 22102.

Kontaktmethode	Details
Telefon	(703) 287-5839
E-Mail	investor.relations@gladstonecompanies.com

Börsennotierung

Gladstone Land Corporation wird an der NASDAQ unter dem Tickersymbol gehandelt LAND.

Auflistungsdetails	Informationen
Austausch	NASDAQ
Marktkapitalisierung (Stand 2024)	595,42 Millionen US-Dollar

Finanzberatungsplattformen

• Morgenstern
• Bloomberg-Terminal
• S&P Capital IQ
• Thomson Reuters

Investorenkonferenzen und Präsentationen

Konferenztyp	Häufigkeit
Vierteljährlicher Gewinnaufruf	4 Mal im Jahr
Jährlicher Investorentag	1 Mal pro Jahr

Unternehmenswebsite und digitale Investorenressourcen

Website: www.gladstonecompanies.com/land

• Vierteljährliche Finanzberichte
• Jahresberichte
• SEC-Einreichungen
• Präsentationsdecks für Investoren

Gladstone Land Corporation (LAND) – Geschäftsmodell: Kundensegmente

Institutionelle Immobilieninvestoren

Die Gladstone Land Corporation richtet sich an institutionelle Anleger mit spezifischen Anlagemerkmalen für landwirtschaftliche Immobilien:

Anlagekategorie	Durchschnittliche Investitionsgröße	Jährliche Zuteilung
Institutionelle Portfolios für Agrarland	50-100 Millionen Dollar	3-5 % der gesamten Immobilienallokation
Nachhaltige Investitionen in die Landwirtschaft	25-75 Millionen Dollar	2-4 % der alternativen Anlagestrategie

Agrarinvestitionsfonds

Zielen Sie auf landwirtschaftliche Investmentfonds mit spezifischen Portfolioanforderungen:

• Mindestdiversifizierung des Portfolios: 20–30 verschiedene landwirtschaftliche Grundstücke
• Bevorzugte Kulturarten: Dauerkulturen, Sonderkulturen
• Geografische Konzentration: Westen der Vereinigten Staaten

Vermögende Privatanleger

Merkmale des angesprochenen Anlegersegments:

Investor Profile	Typischer Anlagebereich	Investitionsmotivation
Extrem vermögend	500.000 bis 5 Millionen US-Dollar	Portfoliodiversifizierung, Inflationsabsicherung
Akkreditierte Investoren	$100,000 - $500,000	Stabile Renditen, Engagement im Agrarsektor

Auf nachhaltige Investitionen ausgerichtete Portfolios

Details zum Segment „Nachhaltiges Investieren“:

• Compliance in den Bereichen Umwelt, Soziales und Governance (ESG).
• Potenzial zur Kohlenstoffbindung: 0,5–1,5 Tonnen CO2 pro Hektar
• Priorität für Investitionen in wassereffiziente Landwirtschaft

Risikoscheue Investitionssuchende

Merkmale der Risikominderung:

Risiko Profile	Anlagestrategie	Erwartete jährliche Renditen
Konservative Anleger	Langfristige Landaufwertung	4-6 % jährliche Rendite
Mäßige Risikotoleranz	Aufteilung der Ernteeinnahmen	6-8 % jährliche Rendite

Gladstone Land Corporation (LAND) – Geschäftsmodell: Kostenstruktur

Kosten für den Erwerb von Grundstücken

Ab 2024 sind die Landerwerbskosten der Gladstone Land Corporation in der folgenden Tabelle aufgeführt:

Ausgabenkategorie	Betrag ($)
Gesamtkosten für den Landerwerb (2023)	$74,700,000
Durchschnittliche Kosten pro Acre	$6,500
Jährliches Landkaufbudget	50-80 Millionen Dollar

Instandhaltung und Verbesserungen von Immobilien

Zu den Instandhaltungskosten der Immobilie gehören:

• Jährliches Budget für die Immobilieninstandhaltung: 3,2 Millionen US-Dollar
• Kosten für die Verbesserung der Infrastruktur: 1,5 Millionen US-Dollar
• Modernisierung des Bewässerungssystems: 750.000 US-Dollar
• Wartung von Landmaschinen: 600.000 US-Dollar

Kosten für die Verwaltung landwirtschaftlicher Pachtverträge

Kosten für die Mietverwaltung	Betrag ($)
Gesamtkosten für die Mietverwaltung	2,8 Millionen US-Dollar
Durchschnittliche Kosten pro gepachtetem Acre	$350
Gemeinkosten für die Mietverwaltung	$450,000

Betriebs- und Verwaltungsaufwand

• Gesamtverwaltungskosten: 5,6 Millionen US-Dollar
• Mitarbeitervergütung: 3,2 Millionen US-Dollar
• Technologie und Software: 480.000 US-Dollar
• Betriebskosten des Büros: 700.000 US-Dollar

Compliance- und Regulierungskosten

Kategorie der regulatorischen Ausgaben	Betrag ($)
Umweltkonformität	$650,000
Rechtliche und regulatorische Berichterstattung	$420,000
Zertifizierungs- und Auditkosten	$280,000

Gladstone Land Corporation (LAND) – Geschäftsmodell: Einnahmequellen

Einnahmen aus landwirtschaftlicher Pacht

Im vierten Quartal 2023 meldete die Gladstone Land Corporation Gesamteinnahmen aus der Pacht von landwirtschaftlichen Betrieben in Höhe von 21,4 Millionen US-Dollar. Das Portfolio besteht aus 169 Farmen mit einer Fläche von 112.000 Acres in 15 Bundesstaaten.

Leasingtyp	Jahresumsatz	Prozentsatz des Gesamtumsatzes
Dauerhafte Erntepachtverträge	14,2 Millionen US-Dollar	66.4%
Pachtverträge für Reihenkulturen	7,2 Millionen US-Dollar	33.6%

Wertsteigerung von Immobilien

Das Agrarlandportfolio des Unternehmens zeigte a 3,2 % jährliche Wertsteigerungsrate im Jahr 2023 mit einem Gesamtwert von 1,36 Milliarden US-Dollar.

Erntebezogene Mieteinnahmen

• Durchschnittlicher Pachtpreis pro Acre: 275 $
• Die Pflanzenvielfalt umfasst Mandeln, Beeren, Gemüse und Reihenkulturen
• Leasingverträge haben eine durchschnittliche Laufzeit von 10 Jahren

Dividendenausschüttungen an Aktionäre

Für 2023 erklärte die Gladstone Land Corporation eine Gesamtdividende von 1,56 US-Dollar pro Aktie, was einem entspricht 5,8 % Dividendenrendite.

Dividendenzeitraum	Dividendenbetrag	Zahlungshäufigkeit
Monatlich	0,13 $ pro Aktie	12 Mal im Jahr

Verkauf von Immobilienvermögen

Im Jahr 2023 schloss das Unternehmen strategische landwirtschaftliche Grundstücksverkäufe im Wert von 45,3 Millionen US-Dollar ab, mit einem durchschnittlichen Gewinn von 12,6 % über den ursprünglichen Anschaffungskosten.

• Insgesamt verkaufte Immobilien: 7 Bauernhöfe
• Gesamtverkaufte Fläche: 3.200 Acres
• Durchschnittlicher Verkaufspreis pro Acre: 14.156 $

Gladstone Land Corporation (LAND) - Canvas Business Model: Value Propositions

You're looking at the core reasons why farmers and investors choose Gladstone Land Corporation (LAND) for their agricultural real estate needs as of late 2025. The value proposition is built around capital flexibility, asset quality, and inflation protection, all grounded in concrete numbers from their current operations.

Capital liberation for farmers via long-term sale-leaseback

Gladstone Land Corporation offers farmers a way to unlock the equity tied up in their land without stopping their farming operations. This is done through long-term sale-leaseback transactions. For example, two farms in northern Nebraska, originally purchased in 2015 as part of a sale-leaseback transaction, were sold in February 2025 for $12.0 million, representing a 9% increase over their original purchase prices of $11.0 million. This demonstrates the potential for capital appreciation even when crop profitability shifts.

Stable, long-term access to high-value, irrigated farmland

Tenants gain access to high-quality, productive land under a triple-net lease, meaning the farmer maintains the property while paying rent to Gladstone Land Corporation. As of November 5, 2025, Gladstone Land Corporation owned approximately 100,000 total acres across 148 farms in 15 states. Furthermore, they hold over 55,000 acre-feet of water assets in California, a critical resource. The weighted-average remaining lease term across the agricultural real estate holdings was 5.7 years as of that date.

Here are the key portfolio metrics as of late 2025:

Metric	Value	Date/Context
Total Owned Farms	148	As of November 5, 2025
Total Owned Acres	Approximately 100,000	As of November 5, 2025
States with Holdings	15	As of November 5, 2025
California Water Assets	Over 55,000 acre-feet	As of November 5, 2025
Occupancy Rate	95.7%	Based on farmable acreage as of November 5, 2025
Weighted-Average Remaining Lease Term	5.7 years	Excluding tenant renewal options, as of November 5, 2025

Inflation-protected real asset investment for shareholders

For shareholders, the investment offers exposure to farmland, a real asset historically tracking inflation, supported by consistent distributions. Gladstone Land Corporation declared a monthly cash distribution of $0.0467 per share of common stock for the fourth quarter of 2025. This equates to $0.5604 per year based on the current per-share distribution. At a stock price of $9.24, this represented a 6.1% annualized yield. The company also maintains significant liquidity, reporting over $170 million of immediately available capital.

Focus on specialty crops (e.g., nuts, berries) with premium potential

Gladstone Land Corporation concentrates on land for fresh produce and permanent crops, which often carry premium potential compared to row crops. They noted that pistachio orchards performed well above state averages and exceeded internal projections for both crop quality and volume. The portfolio includes significant acreage dedicated to these higher-value crops:

• Approximately 30% of fresh produce acreage is organic or transitioning to organic.
• Over 20% of permanent crop acreage falls into the organic or transitioning category.

Flexible lease structures to defintely help tenants in down cycles

The company actively modifies lease structures to support tenants during market fluctuations. For the 2025 crop year, lease agreements on six of their farms in the West were modified. These changes involved reducing or eliminating fixed base rent amounts and, in some cases, providing cash lease incentives in exchange for significantly increasing the participation rent components. On these properties, Gladstone Land Corporation is accepting a percentage of gross crop sales instead of a fixed rent payment. One specific modification eliminated base rent entirely for a cash allowance, boosting the participation rent component, the majority of which was expected to be recognized in the fourth quarter of 2025. Lease renewals executed after the third quarter of 2025 were anticipated to increase annual Net Operating Income by about $65,000, or 7% on those specific farms.

Gladstone Land Corporation (LAND) - Canvas Business Model: Customer Relationships

You're looking at how Gladstone Land Corporation (LAND) manages its most critical external relationships-the farmers who work the land and the investors who fund the enterprise. It's a relationship-driven model, especially given the long-term nature of agricultural assets.

Gladstone Land Corporation maintains long-term, direct relationships with its tenant farmers. As of November 5, 2025, the company leased its properties to 85 different, unrelated third-party tenants across its portfolio of 148 farms in 15 states. This close operational tie is necessary because the leases are typically triple-net, meaning the farmer handles property maintenance while paying rent.

The company engages in proactive lease modifications, shifting the structure to better align incentives, particularly with specialty crop growers. This involves moving away from traditional fixed rent toward participation rent structures. For the 2025 fiscal year, management outlined a strategic shift on several farms, moving from fixed base rent to a percentage of gross crop sales. This structural change is significant; management anticipated a total year-over-year decline of approximately $17 million in fixed base rents for fiscal year 2025 compared to 2024, with the majority of the resulting crop share proceeds expected to be recognized as participation rent in the fourth quarter of 2025. In the first quarter of 2025 alone, fixed base cash rents decreased by approximately $5.7 million compared to the prior year's first quarter. On the positive side, lease renewals executed after the third quarter of 2025 are expected to increase annual Net Operating Income (NOI) by about $65,000, representing about a 7% increase on those specific farms.

When acquiring property, Gladstone Land Corporation offers sellers clear, concrete options, suggesting a high-touch communication approach tailored to the seller's needs. For farmers selling their land, the company offers long-term sale leaseback transactions to free up capital for operations. For sellers who do not farm the land, Gladstone Land offers a cash purchase option.

The commitment to shareholders is demonstrated through consistent monthly cash distributions. As of late 2025, Gladstone Land Corporation had paid 152 consecutive monthly common-stock distributions since its initial public offering in January 2013. The declared distributions for the fourth quarter of 2025 illustrate this consistency:

Security Type	Monthly Distribution (Oct, Nov, Dec 2025)	Quarterly Total (Oct-Dec 2025)
Common Stock (LAND)	$0.0467 per share	$0.1401 per share
Series B Preferred Stock (LANDO)	$0.125 per share	$0.375 per share
Series C Preferred Stock (LANDP)	$0.125 per share	$0.375 per share
Series D & E Preferred Stock	$0.104167 per share	$0.312501 per share

The company also maintains a Dividend Reinvestment Plan (DRIP) for its common stockholders.

Gladstone Land Corporation (LAND) - Canvas Business Model: Channels

You're looking at how Gladstone Land Corporation gets its properties sourced and how it connects with its investors. For a specialized REIT like Gladstone Land Corporation, the channels are split between the physical, on-the-ground work of acquiring and managing farmland and the digital/financial channels for capital access and shareholder communication. It's a dual focus, honestly.

Direct acquisition team for sourcing farm deals

The sourcing channel is fundamentally direct, relying on teams that interact with sellers and farmers. Gladstone Land Corporation's strategy involves offering specific transaction types to landowners and farmers, which requires a dedicated, boots-on-the-ground approach. This team is the engine for growing the asset base, which, as of November 5, 2025, stood at 148 farms across 15 states in the U.S..

Here's a look at the scale of the portfolio these acquisition channels feed:

Metric	Value as of Late 2025
Total Farms Owned	148
Total Acres Owned (Approximate)	100,000
States with Property Holdings	15
Water Assets Owned (California)	Over 55,000 acre-feet
Occupancy Rate (Farmable Acreage)	95.7%
Number of Third-Party Tenants	85
Weighted-Average Remaining Lease Term	5.7 years

The team uses specific offers to drive deal flow, such as long-term sale leaseback transactions for farmers looking to free up capital, or cash purchases for sellers who don't farm the land themselves.

Regional offices for local presence

To support the direct acquisition and tenant management channels, Gladstone Land Corporation maintains physical regional offices. This local presence is key for understanding regional agricultural markets and tenant needs. You can see the geographic focus points clearly laid out in their contact information.

• Western U.S. office located in Camarillo, CA.
• Southeastern U.S. office located in Tampa, FL.
• Mid-Atlantic U.S. office located in McLean, VA, which also serves as the corporate office.

For instance, the contact for the Western U.S. is Bill Reiman, reachable at (805) 377-7701. This localized structure helps them manage the over 60 different types of crops grown on their leased properties.

Publicly traded on Nasdaq (LAND) for investor access

The primary channel for accessing equity capital is through the public markets. Gladstone Land Corporation trades on the Nasdaq exchange under the ticker symbol LAND. This public listing is the mechanism for broad investor access, from retail to institutional holders.

Here are some key market data points as of late 2025, reflecting this channel's current valuation context:

Financial Metric	Value (Late 2025)
Stock Exchange	Nasdaq
Stock Ticker	LAND
Market Capitalization (Approximate)	$330M (as of Nov 4, 2025) or $340,246,185
Stock Price (Example Close)	$9.22 (Dec 3, 2025)
52-Week Trading Range	$8.47 to $11.925
Forward Funds From Operations (FFO)	$0.37
Annualized Dividend	$0.5604

The company maintains a consistent payout history through this channel, having paid 147 consecutive monthly cash distributions on its common stock since its IPO in January 2013. The current monthly distribution is $0.0467 per month per share.

Investor Relations team for shareholder communication

The Investor Relations (IR) team manages the flow of information to the investment community, which is crucial for a publicly traded entity. This team uses formal filings, presentations, and direct contact to communicate performance and strategy.

Communication channels managed by the IR team include:

• Distribution of official filings like the Q3 2025 10-Q and Earnings Release (e.g., released November 5, 2025).
• Investor Presentations, such as the one available as of August 7, 2025.
• Direct contact via the IR phone line at 703-287-5893 or email land@gladstonecompanies.com, both based in McLean, VA.
• Digital outreach through Email Alerts and an RSS News Feed.

The IR function also oversees communication regarding the company's distribution policy, which has been paid monthly without interruption for 147 consecutive months as of late 2025. This consistency is a key piece of the shareholder communication strategy.

Gladstone Land Corporation (LAND) - Canvas Business Model: Customer Segments

You're looking at the core of Gladstone Land Corporation's business-who actually farms the dirt they own. It's all about the tenant base, which is the bedrock of their triple-net lease structure.

Gladstone Land acquires farmland and rents it out to tenants who are expected to have a strong operating history and deep farming resources. As of November 5, 2025, Gladstone Land Corporation owned 148 farms comprised of approximately 100,000 total acres across 15 states in the U.S.. Their occupancy rate, based on farmable acreage, stood at 95.7%.

The tenant base is diverse, leasing to 85 different, unrelated third-party tenants who grow over 60 different types of crops on the properties.

• Corporate and independent farmers with strong operating history
• Landowners seeking liquidity through sale-leaseback
• Institutional and retail investors seeking real asset exposure
• Growers of high-value specialty crops (e.g., almonds, pistachios, berries)

The relationship with the farmers is key, as Gladstone Land offers specific solutions depending on the farmer's need. For farmers selling their land, they offer long-term sale leaseback transactions to help them free up capital for operations.

Here's a look at the portfolio composition and the types of crops that define the tenant base:

Portfolio Metric	Value as of Late 2025	Source/Context
Total Farms Owned	148	As of November 5, 2025
Total Farmable Acres	Approximately 100,000	As of November 5, 2025
Total Unrelated Third-Party Tenants	85	As of November 5, 2025
Total Crop Types Grown	Over 60
Weighted-Average Remaining Lease Term	5.7 years	Excluding tenant renewal options
Water Assets Owned (California)	Over 55,000 acre-feet	About 18.0 billion gallons

The focus on specialty crops means Gladstone Land Corporation is directly exposed to the success of those growers. The farmland is predominantly in regions for fresh produce annual row crops, like berries and vegetables, or permanent crops such as almonds, pistachios, and wine grapes. To be fair, this specialization brings upside, like the strong pistachio pricing seen in Q3 2025.

The shift in lease structures is also relevant to the farmer segment. Management has been actively reducing or eliminating fixed base rent on some farms in exchange for significantly increasing the participation rent component, which is recognized upon harvest and sale. This resulted in an expected year-over-year decline of about $17 million in fixed base rents for fiscal year 2025 compared to 2024.

For the investor segment, Gladstone Land Corporation is a publicly traded REIT, meaning its customers are its shareholders. As of November 4, 2025, the market capitalization was $330M based on 37.3M shares outstanding. The company declared a monthly common stock distribution of $0.0467 per share for October, November, and December 2025. At a stock price of $9.24 (as of December 1, 2025), this represents an annualized yield of 6.1%.

Gladstone Land Corporation (LAND) - Canvas Business Model: Cost Structure

Gladstone Land Corporation's Cost Structure is heavily influenced by its real estate ownership model, primarily revolving around debt servicing, property upkeep, and fees paid to its external manager. These costs are critical to understanding the net returns generated from its agricultural portfolio.

Interest expense on debt is a major component. As of the third quarter of 2025 earnings call, Gladstone Land Corporation reported that over 99% of its borrowings were held at fixed rates. The weighted-average fixed rate on this debt was 3.39%, locked in for a minimum of 3 years, which provided a shield against recent interest rate volatility. For context on debt levels, total debt on the balance sheet as of September 2025 was reported as $0.48 Billion USD.

Property operating expenses are incurred for farms that are vacant, under direct operation, or on non-accrual status. These expenses can fluctuate based on property conditions and tenant status. For instance, in the first quarter of 2025, recurring core operating expenses, excluding related-party fees, increased by approximately $425,000, largely due to higher property operating expenses related to these specific farms, including increased property taxes and legal costs. In the second quarter of 2025, higher property operating expenses were noted due to costs to protect water rights on California farms and elevated property taxes on vacant/direct-operated farms.

Costs related to the external management structure are clearly defined in the Advisory Agreement. The Base Management Fee is paid quarterly in arrears and is calculated at an annual rate of 0.60% (or 0.15% per quarter) of the prior calendar quarter's Gross Tangible Real Estate. The Incentive Fee is calculated and payable quarterly if the Pre-Incentive Fee FFO surpasses a specified hurdle rate. For example, aggregate related-party fees decreased by approximately $60,000 in the first quarter of 2025, primarily due to a lower base management fee following 2024 farm sales.

Distributions to stockholders represent a significant cash outflow, as Gladstone Land Corporation is committed to paying monthly dividends. You can see the declared amounts for the fourth quarter of 2025 below:

Security Type	Monthly Distribution (Oct, Nov, Dec 2025)	Quarterly Total (Oct, Nov, Dec 2025)
Common Stock (LAND)	$0.0467 per share	$0.1401 per share
Series B Preferred Stock (LANDO)	$0.125 per share	$0.375 per share
Series C Preferred Stock (LANDP)	$0.125 per share	$0.375 per share
Series D Preferred Stock (LANDM)	$0.104167 per share	$0.312501 per share
Series E Preferred Stock	$0.104167 per share	$0.312501 per share

Gladstone Land Corporation has maintained a consistent payout history, having paid 152 consecutive monthly common-stock distributions since its January 2013 initial public offering, as of the Q3 2025 declaration.

The key cost elements for Gladstone Land Corporation include:

• Interest expense tied to debt with a weighted-average fixed rate of 3.39%.
• Variable property operating expenses, especially on vacant or direct-operated farms.
• Base management fees calculated at 0.60% annually of Gross Tangible Real Estate.
• Mandatory preferred and common stock dividend distributions, such as $0.0467 monthly for common shares.

Gladstone Land Corporation (LAND) - Canvas Business Model: Revenue Streams

Gladstone Land Corporation (LAND) generates revenue primarily through its real estate holdings, which are structured around long-term leases with tenants who grow specialty crops. The revenue streams are a mix of predictable base income and variable income tied to agricultural success.

Fixed base cash rents from triple-net leases form the foundational layer of income. Under these triple-net leases, tenants are responsible for property expenses like insurance, taxes, and maintenance, which helps keep LAND's operating costs relatively predictable. However, this stream is currently being strategically reduced. For the quarter ended September 30, 2025, total cash lease revenues decreased, primarily due to a $5.4 million reduction in fixed base cash rents compared to the prior year period. Management projected a total year-over-year decline of about $17 million in fixed base rents for the full fiscal year 2025 compared to 2024, driven by lease modifications.

The second key component is participation rents (crop share) from modified leases. This represents a strategic shift where Gladstone Land Corporation is accepting a percentage of gross crop sales instead of, or in addition to, a fixed rent payment. This ties a portion of the revenue directly to the success of the crops. For the quarter ending September 30, 2025, participation rents increased by approximately $1.9 million, partly due to stronger pistachio pricing. Critically, the timing of recognition for these variable rents is weighted heavily toward the end of the year. Management indicated that the majority of the revenue resulting from lease modifications on certain farms is expected to be recognized in the fourth quarter of 2025. Specifically, there was an expectation to recognize about $17 million in Q4 revenue from three orchards due to these adjusted lease terms.

The third stream involves capital gains from strategic property sales. This is realized when Gladstone Land Corporation sells a property at a premium to its carrying value. A concrete example from early in the year is the sale of seven farms in Q1 2025. These sales generated an aggregate price of $64.5 million and resulted in a total net gain of approximately $15.7 million.

To give you a snapshot of the overall scale of these combined revenue streams as of late 2025, the trailing 12-month revenue was $67.94 million as of September 30, 2025. This figure reflects the ongoing transition in the revenue mix.

Here is a look at how the primary revenue drivers compare, using the latest available figures:

Revenue Stream Component	Latest Reported Data Point	Value (USD)
Trailing 12-Month Revenue (TTM)	As of September 30, 2025	$67.94 million
Fixed Base Cash Rent Impact	Year-over-year decrease in FY 2025 (Projected)	Approximately $17 million decline
Fixed Base Cash Rent Impact	Q3 2025 vs. Prior Year Quarter	Decrease of about $5.4 million
Participation Rents Increase	Q3 2025 vs. Prior Year Quarter	Increase of about $1.9 million
Capital Gains Example	Net Gain from Q1 2025 Property Sales	Approximately $15.7 million
Expected Q4 Participation Revenue	Anticipated Q4 2025 Recognition from Modified Leases	About $17 million

The shift in lease structure is causing a temporary compression in the more predictable revenue component in favor of the variable one. You can see the impact on the overall top line:

• Trailing 12-Month Revenue (TTM) as of September 30, 2025: $67.94 million.
• Q3 2025 Total Revenue: $17.79 million or $17.84 million.
• Q1 2025 Total Operating Revenue: $16.8 million.
• Lease modifications on six farms were made to increase the participation rent component.
• The company is also operating two properties (four farms) under management agreements, reflecting a temporary shift toward participation-based revenues.

Finance: draft 13-week cash view by Friday.