Company: LANDO
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001495240-25-000021
Chunk: 48

Company: GLADSTONE LAND Corp
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 48
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 during either of the three or six months ended June 30, 2025.  The following table summarizes repurchase activity under the 2024 Repurchase Program during the three and six months ended June 30, 2024 (dollars in thousands, except per-share amounts):Three and Six Months Ended June 30, 2024Series B Preferred Stock:Number of shares repurchased54,735 Gross repurchase price(1)$1,133 Weighted-average repurchase price per share$20.70 Gain on repurchase(2)$84 Series C Preferred Stock:Number of shares repurchased86,042 Gross repurchase price(1)$1,762 Weighted-average repurchase price per share$20.47 Gain on repurchase(2)$190 (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.Subsequent to June 30, 2025, our Board of Directors approved a new share repurchase program for the Series B Preferred Stock and the Series C Preferred Stock; see Note 12, “Subsequent Events—Repurchase Program,” for information on this repurchase program.Non-Controlling Interests in Operating PartnershipWe consolidate our Operating Partnership, which is a majority-owned partnership.  As of both June 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 six months ended June 30, 2025 and 2024 are reflected in the table below.Three Months Ended June 30,Six Months Ended June 30,Issuance2025202420252024Series B Preferred Stock$0.375 $0.375 $0.750 $0.750 Series C Preferred Stock0.375 0.375 0.750 0.750 Series D Term Preferred Stock(1)0.312501 0.312501 0.625002 0.625002 Series E Term Preferred Stock0.312501 0.312501 0.625002 0.625002 Common Stock0.1401 0.1398 0.2802 0