Gladstone: 3Q Earnings Snapshot
MCLEAN, Va. (AP) _ Gladstone Land Corp. (LAND) on Wednesday reported a key measure of profitability in its third quarter.
The real estate investment trust, based in McLean, Virginia, said it had funds from operations of $3 million, or 14 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 $638,000, or 3 cents per share.
The real estate investment trust specializing in farmland posted revenue of $11 million in the period.
The company’s shares have risen slightly more than 4% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $11.99, a decline of nearly 6% in the last 12 months.