|
|
|
Gladstone Land Corp | 6.00% Series B Cumulative Redeemable Preferred Stock (LANDO)
Prospectus excerpt: We are offering an aggregate of 6,500,000 shares of our 6.00% Series B Cumulative Redeemable Preferred Stock, par value $0.001 per share (the “Series B Preferred Stock”), consisting of a primary offering of up to 6,000,000 shares of Series B Preferred Stock on a “reasonable best efforts” basis through our affiliated dealer manager, Gladstone Securities, LLC (“Gladstone Securities”), and up to 500,000 shares of Series B Preferred Stock pursuant to a dividend reinvestment plan to those holders of the Series B Preferred Stock who elect to participate in such dividend reinvestment plan. We reserve the right to reallocate shares between the primary offering and the offering pursuant to the dividend reinvestment plan in our sole discretion. The primary offering of the Series B Preferred Stock will terminate on the date (the “Termination Date”) that is the earlier of (1) January 10, 2023 (unless earlier terminated or extended by our Board of Directors) and (2) the date on which all 6,000,000 shares of Series B Preferred Stock offered in the primary offering are sold. The offering period for the dividend reinvestment plan will terminate on the earlier of (1) the issuance of all 500,000 shares of Series B Preferred Stock under the dividend reinvestment plan and (2) the listing of the Series B Preferred Stock on the NASDAQ Global Select Market (“NASDAQ”) or another national securities exchange. Full Prospectus PDF », Secondary Prospectus PDF », LAND Page »
Series: | B | Redeemable?: | Yes | Call Date: | 1/10/2022 (Now Trading Post Call Date) | Perpetual?: | Yes | Cumulative?: | Yes | Shares Offered: | 6,000,000 | Liquidation Preference: | $25.00 | Recent Market Price: | $19.29 | Discount to Liquidation Preference: (More Preferreds Trading at a Discount ») | $-5.71 (-22.84%) | Annualized Dividend: | 1.5 | Recent Ex-Date: | 5/16/2024 | Current Yield: | 7.78% | Original Coupon: | 6.00% | Pay Period: | Monthly | CDx3 Compliance Rating: |
Learn LANDO's Rating
|
|
Gladstone Land is a holding company. Through its subsidiaries, Co. is an externally-managed, agricultural real estate investment trust that is engaged in the business of owning and leasing farmland. Co.'s farmland is concentrated in locations where farmers are able to grow either fresh produce annual row crops, which are typically planted and harvested annually, or certain permanent crops. To a much lesser extent, Co. also owns farms that grow certain commodity crops. In addition, Co. owns several farm-related facilities that are necessary to the farming operations on the underlying farmland, such as cooling facilities, packinghouses, processing facilities, and various storage facilities. Preferreds: LANDO, LANDP, LANDM Open the LAND Information Page »
|
Name: |
Gladstone Land Corp |
Website: |
www.GladstoneFarms.com |
Sector: |
REITs |
Number of ETFs Holding LAND: |
31 (see which ones) |
Total Market Value Held by ETFs: |
$86,876,816.75 |
Total Market Capitalization: |
$455,000,000 |
% of Market Cap. Held by ETFs: |
19.09% |
|
|
|
|
|