Company: LANDO
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001495240-25-000012
Chunk: 168

Company: GLADSTONE LAND Corp
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 2
Chunk 168
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, and AFFO, respectively, divided by the weighted-average number of total shares (including shares of our common stock and OP Units held by non-controlling limited partners) outstanding on a fully-diluted basis during a period. We believe that diluted earnings per share is the most directly-comparable GAAP measure to each of Diluted FFO, CFFO, and AFFO per share.  Because many REITs provide Diluted FFO, CFFO, and AFFO per share information to the investment community, we believe these are useful supplemental measures when comparing us to other REITs.

We believe that FFO, CFFO, and AFFO and Diluted FFO, CFFO, and AFFO per share are useful to investors because they provide investors with a further context for evaluating our FFO, CFFO, and AFFO results in the same manner that investors use net income and EPS in evaluating net income.

The following table provides a reconciliation of our FFO, CFFO, and AFFO for the three months ended March 31, 2025 and 2024 to the most directly-comparable GAAP measure, net income, and a computation of diluted FFO, CFFO, and AFFO per share, using the weighted-average number of total shares (including shares of our common stock and OP Units held by non-controlling OP Unitholders) outstanding during the respective periods (dollars in thousands, except per-share amounts):

38

 For the Three Months Ended March 31, 20252024Net income$15,108 $13,567 Less:  Aggregate dividends declared on and gains on or charges related to extinguishment of cumulative redeemable preferred stock, net(1)(6,002)(6,118)Net income attributable to common stockholders and non-controlling OP Unitholders$9,106 $7,449 Plus:  Real estate and intangible depreciation and amortization8,429 8,789 Less:  Gains on dispositions of real estate assets, net(15,410)(10,273)Adjustments for unconsolidated entities(2)14 23 FFO available to common stockholders and non-controlling OP Unitholders$2,139 $5,988 Plus:  Acquisition- and disposition-related expenses, net21 — Plus:  Other nonrecurring charges, net(3)173 11 CFFO available to common stock