Gladstone Land

What Gladstone Land does

Gladstone Land Corporation is a publicly traded real estate investment trust (REIT) listed on NASDAQ under the ticker LAND, founded in 1997 by David J. Gladstone and headquartered in McLean, Virginia. The company owns approximately 144 farms across 14 U.S. states, focused primarily on high-value fruit and vegetable cropland in regions with established rental markets, and leases this land to corporate and independent farmer tenants under triple-net lease structures. Three acquisition channels are offered: long-term sale-leaseback transactions for farmers selling their land, direct purchases for farmers who prefer to lease rather than own, and cash purchases from non-farming sellers with existing or replacement tenants placed on the land. The portfolio is described as 100% occupied with abundant water sources at each site.

The company generates revenue through three streams: recurring farm rental income under long-term leases (with approximately 45-49% or more of rent tied to CPI-linked escalators providing inflation protection), usage-based crop-share participation revenue, and one-time gains from select farm sales. In Q4 2025 the company sold 13 farms totaling 12,502 acres for approximately $95.4 million, recognizing a net gain of $21.3 million, while Q4 2025 participation rent revenue reached $20 million versus $9.4 million in the prior-year quarter. Q1 2026 revenue was $16.55 million and Adjusted Funds From Operations were $3.1 million ($0.08 per share), up 33% year-over-year.

Gladstone Land is externally managed by Gladstone Management Corporation and has paid 158 consecutive monthly cash distributions on its common stock since its January 2013 IPO. The company distributes capital to shareholders through common stock (LAND) and two series of preferred stock (LANDP and LANDO), with a continuous offering of Series E Preferred Stock marketed through affiliated Gladstone Securities. Operations are supported by three regional offices covering the Western, Southeastern, and Mid-Atlantic United States. The company is led by founder David J. Gladstone (Chairman, CEO, and President), with a leadership team spanning CFO Lewis Parrish, Chief Administrative Officer Michael LiCalsi, Treasurer Jay Beckhorn, Chief Compliance Officer Jack Dellafiora, Chief Valuation Officer Jennifer Smith, Chief Investment Officer John Sateri (effective March 2026), and Executive Vice President of West Coast Operations Bill Reiman.

Name

Gladstone Land

Legal name

Gladstone Land Corporation

Website

https://gladstonefarms.com

Company type

Public

Founded year

1997

Operating status

Operating

Headcount range

101–250 employees

Short description

Gladstone Land Corporation is a publicly traded farmland REIT that owns approximately 144 fruit and vegetable farms across 14 U.S. states and leases them to corporate and independent farmer tenants under triple-net lease structures, distributing monthly income to shareholders.

Ownership category

akta.pro rank

Product category

Farmland REIT

NAICS

Lessors of Real Estate (5311)

SIC

Real Estate Dealers (For Their Own Account) (6532)

akta.pro primary industry

Natural Resources — Farmland & Agriculture (FSAAAKAI)

akta.pro secondary industry

Natural Resources Funds (Timberland, Farmland, Minerals) (FSANAEAK)

Keywords

• Farmland REIT
• Triple-net leases
• Agricultural real estate
• Sale-leaseback transactions
• Farmland leasing

Headquarters

HQ city

Mc Lean

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Supply Chain, Others

Revenue model

1. Farm Rental Income: Gladstone Land generates recurring rental income from long-term triple-net leases on farmland across 14 U.S. states. Leases feature built-in rent escalators tied to inflation indices (CPI-linked), providing revenue stability and inflation protection. The company reported approximately 45-49% or more of rent derived from CPI-linked leases.
2. Crop-Share Participation Revenue: The company generates additional revenue through participation-based lease structures where it receives a share of crop production revenues. In Q4 2025, participation rent revenue reached $20 million compared to $9.4 million in 2024, driven by strategic shift toward direct farming operations and modified lease structures that increase crop-share participation.
3. Farm Asset Sales: Gladstone Land sells select farms to optimize portfolio composition. In Q4 2025, the company sold 13 farms totaling 12,502 acres for approximately $95.4 million, recognizing a net gain of $21.3 million.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Gladstone Land acquires farmland across the United States and leases it to corporate and independent farmers under triple-net lease arrangements. The company offers three acquisition structures: long-term sale-leaseback transactions for land-selling farmers, direct farm purchases for farmers who want to lease rather than own, and cash purchases from non-farming land sellers while maintaining or replacing tenant-farmers. Operations span approximately 144 farms across 14 U.S. states, with CPI-linked rent escalators providing inflation-protected recurring rental income.

Product overview

Gladstone Land Corporation is a single-sector REIT focused exclusively on farmland ownership and leasing. The company operates as a unified real estate investment trust rather than a platform with modular products. Their core business involves acquiring high-quality farms and farm-related properties across the United States and leasing them to farmers under triple-net lease structures. The company generates revenue through rental income, crop-share participation arrangements, and occasional farm sales. The company also offers preferred stock investment products (Series E, LANDP, LANDO) as part of its capital structure, though these are financing instruments rather than distinct product lines in the traditional sense.

Differentiator

Problem solved

Functional benefit

Products and services

• Farmland Acquisition and Leasing Core farmland REIT offering: Gladstone Land acquires high-quality farmland and farm-related properties across the United States and leases them to corporate and independent farmer tenants under triple-net lease structures. Three acquisition channels include sale-leaseback transactions for land-selling farmers, direct farm purchases for farmers who prefer to lease rather than own, and cash purchases from non-farming sellers with existing or replacement tenants. All farms are 100% occupied with abundant water sources and primarily target fruit and vegetable cropland.
• Series E Preferred Stock Investment product offering monthly dividend payments, distributed through Gladstone Securities as a continuous offering. Designed to provide investors with preferred equity exposure to the farmland REIT.
• LANDO Preferred Stock NASDAQ-listed preferred stock of Gladstone Land Corporation yielding approximately 7.2%, providing investors with monthly dividend income.
• LANDP (Series D Preferred Stock) Previously outstanding NASDAQ-listed preferred stock of Gladstone Land Corporation yielding approximately 7.5% annualized dividend yield, announced for redemption as part of capital structure optimization.

Quantifiable outcome

• 45-49% or more of rent derived from CPI-linked leases, providing inflation protection
• +2 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators8 records

Recent moves7 records

Expansion highlights4 records

Direct peers

• Farmland Partners Inc. Largest publicly traded U.S. farmland REIT, directly comparable to Gladstone Land in acquiring and leasing farmland to farmers under similar structures across multiple U.S. states.
• Gladstone Commercial Corporation: Sister company under the Gladstone umbrella (same external manager and founder) and publicly traded REIT; comparable as a Gladstone-managed public REIT with the same external management structure and investor base overlap.
• Gladstone Investment Corporation: BDC under the same Gladstone umbrella with overlapping management, governance, and investor base; relevant peer for capital structure, fee economics, and shareholder overlap even though not a farmland REIT.

Broad incumbents

• Weyerhaeuser Company: Large publicly traded timberland REIT and natural-resource landowner; comparable as a real-asset land REIT providing inflation-sensitive income, though focused on timber rather than cropland.
• PotlatchDeltic Corporation: Public timberland REIT with diversified land holdings; comparable as a publicly traded natural-resource land REIT with triple-net-style income exposure.
• Rayonier Inc. Public timberland REIT with significant rural land portfolio; comparable as a real-asset land REIT offering inflation-linked income and capital appreciation.
• CatchMark Timber Partners: Public timberland REIT (now part of PotlatchDeltic) historically comparable as a small/mid-cap natural-resource land REIT with similar income-oriented investor base.
• Nuveen (TIAA) Global Agriculture: Operates one of the world's largest farmland investment platforms; comparable as a large institutional acquirer of U.S. cropland competing for the same acquisition pipeline.
• Hancock Agricultural Investment Group: Manulife-affiliated farmland investment manager with a large U.S. portfolio; comparable as a major institutional farmland owner-leaser competing for high-quality cropland.

Others

• Brookfield Asset Management: Large alternative asset manager with significant real-asset strategies including agriculture; comparable as a capital provider and competitor for institutional farmland investment capital.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/gladstone-farm
• Xx.com/gladstoneland

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Gladstone Land