Company: LANDO
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001495240-25-000028
Chunk: 76

Company: GLADSTONE LAND Corp
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 76
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loss) on dispositions of real estate assets, net3,062 (832)3,894 NMProperty and casualty loss, net— (275)275 NMGain from investments in unconsolidated entities58 28 30 107.1%Total other expense, net(2,406)(6,866)4,460 (65.0)%Net income2,087 6 2,081 34,683.3%Aggregate dividends declared on and gain recognized on extinguishment of cumulative redeemable preferred stock, net(6,002)(5,793)(209)3.6%Net loss attributable to common stockholders$(3,915)$(5,787)$1,872 (32.3)% For the Nine Months Ended September 30, 20252024$ Change% ChangeOperating income$7,955 $21,997 $(14,042)(63.8)%Other income (expense):Other income2,298 3,295 (997)(30.3)%Interest expense(15,004)(16,492)1,488 (9.0)%Dividends declared on cumulative term preferred stock(2,264)(2,264)— —%Gain on dispositions of real estate assets, net16,323 6,641 9,682 145.8%Property and casualty recovery (loss), net137 (284)421 NMLoss from investments in unconsolidated entities(128)(143)15 (10.5)%Total other income (expense), net1,362 (9,247)10,609 (114.7)%Net income9,317 12,750 (3,433)(26.9)%Aggregate dividends declared on and gain recognized on extinguishment of cumulative redeemable preferred stock, net(18,006)(17,742)(264)1.5%Net (loss) income attributable to common stockholders$(8,689)$(4,992)$(3,697)74.1%

NM = Not Meaningful

Other Income (Expense)

Other income generally consists of interest patronage received from Farm Credit (as defined in Note 5, “Borrowings,” in the accompanying notes to our condensed consolidated financial statements) and interest earned on short-term investments.  Other 

37

income decreased primarily due to less interest earned on short-term investments and a decrease in interest patronage received from Farm