Company: LANDO
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001495240-25-000028
Chunk: 18

Company: GLADSTONE LAND Corp
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 18
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Incentive fee waiver— (109)— (109)Total operating expenses, net of credits to fees13,292 15,699 38,930 42,123 OTHER INCOME (EXPENSE):Other income79 370 2,298 3,295 Interest expense(4,850)(5,402)(15,004)(16,492)Dividends declared on cumulative term preferred stock(755)(755)(2,264)(2,264)Gain (loss) on dispositions of real estate assets, net3,062 (832)16,323 6,641 Property and casualty (loss) recovery, net— (275)137 (284)Gain (loss) from investments in unconsolidated entities58 28 (128)(143)Total other (expense) income, net(2,406)(6,866)1,362 (9,247)NET INCOME2,087 6 9,317 12,750 Dividends declared on cumulative redeemable preferred stock(6,002)(6,024)(18,006)(18,247)Gain on extinguishment of cumulative redeemable preferred stock, net— 231 — 505 NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS$(3,915)$(5,787)$(8,689)$(4,992)NET LOSS PER COMMON SHARE:Basic and diluted$(0.11)$(0.16)$(0.24)$(0.14)WEIGHTED-AVERAGE SHARES OF COMMON STOCK OUTSTANDING:Basic and diluted36,190,889 35,838,442 36,186,758 35,838,442 NET INCOME$2,087 $6 $9,317 $12,750 Change in fair value related to interest rate hedging instruments(409)(2,565)(2,583)(1,591)COMPREHENSIVE INCOME (LOSS) $1,678 $(2,559)$6,734 $11,159 

The accompanying notes are an integral part of these condensed consolidated financial statements.

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Table of Contents

GLADSTONE LAND CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY

(In thousands, except share data)

(Unaudited)

Three Months Ended September 30, 2025 Series B Preferred StockSeries C Preferred StockSeries