Gladstone: 2Q Earnings Snapshot
MCLEAN, Va. (AP) _ Gladstone Land Corp. (LAND) on Wednesday reported a key measure of profitability in its second quarter.
The real estate investment trust, based in McLean, Virginia, said it had funds from operations of $1.7 million, or 11 cents per share, in the period.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had a loss of $1.9 million, or 11 cents per share.
The real estate investment trust specializing in farmland posted revenue of $11.4 million in the period.
The company’s shares have declined nearly 5 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $12.81, climbing slightly in the last 12 months.