Company: LANDO
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001495240-25-000028
Chunk: 52

Company: GLADSTONE LAND Corp
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 52
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 for us in accordance with applicable securities laws.  Any repurchases will be made during applicable trading window periods or pursuant to Rule 10b5-1 trading plans.No shares of Series B Preferred Stock or Series C Preferred Stock were repurchased under the 2025 Repurchase Program during either of the three or nine months ended September 30, 2025.  The following table summarizes repurchase activity under the 2024 Repurchase Program during the three and nine months ended September 30, 2024 (dollars in thousands, except per-share amounts):Three Months Ended September 30, 2024Nine Months Ended September 30, 2024Series B Preferred Stock:Number of shares repurchased60,441 115,176 Gross repurchase price(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