Company: LANDO
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001495240-25-000005
Chunk: 186

Company: GLADSTONE LAND Corp
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 186
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 share of such gross revenues.  During the years ended December 31, 2024, 2023, and 2022, we recorded participation rents of approximately $9.4 million, $5.9 million, and $7.7 million, respectively; reimbursements of certain property operating expenses by tenants of approximately $1.4 million, $688,000, and $110,000, respectively; and late fees of approximately $20,000, $46,000, and $0, respectively.(3)Reflected as a line item on our accompanying Consolidated Statements of Operations and Comprehensive Income.

NOTE 10.  EARNINGS PER SHARE OF COMMON STOCK

The following table sets forth the computation of basic and diluted earnings per common share for the years ended December 31, 2024, 2023, and 2022, computed using the weighted-average number of common shares outstanding during the respective periods.  Earnings figures are presented net of non-controlling interests in the earnings per share calculations.  The non-controlling limited partners’ outstanding OP Units (which may be redeemed for shares of common stock) have been excluded from the diluted per-share calculation, as there would be no effect on the amounts since the non-controlling OP Unitholders’ share of earnings would also be added back to net income or loss.(Dollars in thousands, except per-share amounts):For the Years Ended December 31,202420232022Net loss attributable to common stockholders$(10,455)$(9,852)$(15,010)Weighted average shares of common stock outstanding – basic and diluted35,909,956 35,733,742 34,563,460 Loss per common share – basic and diluted$(0.29)$(0.28)$(0.43)The weighted-average number of OP Units held by non-controlling OP Unitholders was 0, 0, and 61,714 for the years ended December 31, 2024, 2023, and 2022, respectively.

NOTE 11.  SUBSEQUENT EVENTS

Portfolio Activity—Property SalesIn January 2025, we completed the sale of five farms in Florida totaling 5,630 gross acres for an aggregate sales price of approximately $52.5 million.  Including closing costs, we recognized a net gain on the sale of approximately $14.2 million.In February 2025, we completed the sale of two farms in Nebraska totaling 2