Company: LANDO
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001495240-25-000028
Chunk: 119

Company: GLADSTONE LAND Corp
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 119
---
(1)$1,296 $2,429 Weighted-average repurchase price per share$21.44 $21.09 Gain on repurchase(2)$49 $133 Series C Preferred Stock:Number of shares repurchased115,604 201,646 Gross repurchase price(1)$2,440 $4,201 Weighted-average repurchase price per share$21.10 $20.83 Gain on repurchase(2)$182 $372 (1)Inclusive of broker commissions.(2)The gain on the repurchase of cumulative redeemable preferred stock is included within Gain (loss) on extinguishment of cumulative redeemable preferred stock, net on our accompanying Condensed Consolidated Statements of Operations and Comprehensive Income.Non-Controlling Interests in Operating PartnershipWe consolidate our Operating Partnership, which is a majority-owned partnership.  As of both September 30, 2025, and December 31, 2024, we owned 100.0% of the outstanding OP Units.DistributionsThe per-share distributions to preferred and common stockholders declared by our Board of Directors during the three and nine months ended September 30, 2025 and 2024 are reflected in the table below.Three Months Ended September 30,Nine Months Ended September 30,Issuance2025202420252024Series B Preferred Stock$0.375 $0.375 $1.125 $1.125 Series C Preferred Stock0.375 0.375 1.125 1.125 Series D Term Preferred Stock(1)0.312501 0.312501 0.937503 0.937503 Series E Term Preferred Stock0.312501 0.312501 0.937503 0.937503 Common Stock0.1401 0.1401 0.4203 0.4194 (1)Dividends are treated similar to interest expense on the accompanying Condensed Consolidated Statements of Operations and Comprehensive Income.

NOTE 10.  LEASE REVENUES

The following table sets forth the components of our lease revenue for the three and nine months ended September 30, 2025 and 2024 (dollars in thousands, except for footnotes):Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Fixed lease payments(1)$12,278 $18,913