Gladstone land corp (LAND)
Income statement / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12
OPERATING REVENUES:
Lease revenue, net

15,280

13,488

11,012

8,362

7,830

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Lease revenue, net

-

-

-

-

-

8,019

8,015

6,634

6,694

6,808

6,561

5,994

5,748

4,918

4,467

4,241

3,680

3,404

3,080

2,780

2,622

2,342

1,771

1,561

1,495

1,167

996

949

914

916

848

811

813

Tenant recovery revenue

-

-

-

-

-

-

-

-

-

-

3

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other Operating Income

-

-

0

0

-

12

2

4,760

2,551

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total operating revenues

15,280

13,488

11,012

8,362

7,830

8,031

8,017

11,394

9,245

-

6,564

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Tenant recovery revenue

-

-

-

-

-

-

-

-

-

-

-

2

2

3

2

3

3

2

3

3

3

-

6

4

-

-

-

-

-

-

-

-

-

Other operating revenues

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total operating revenues

-

-

-

-

-

-

-

-

-

-

-

5,996

5,750

4,921

4,469

4,244

3,683

3,407

3,083

2,783

2,625

2,345

1,777

1,565

1,495

1,177

996

949

914

916

848

811

813

OPERATING EXPENSES:
Depreciation and amortization

4,257

3,838

3,419

2,936

2,597

2,570

2,374

2,242

2,189

2,115

2,051

1,599

1,472

1,443

1,432

1,335

977

800

809

711

791

669

447

330

288

213

171

177

160

-

-

-

-

Property operating expenses

521

535

536

586

816

676

621

318

428

513

267

259

284

241

161

172

213

249

191

156

205

-

137

-

-

-

-

-

-

-

-

-

-

Professional fees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

164

110

178

226

140

163

85

42

40

41

121

Acquisition-related expenses

-

-

-

-

-

-

-

-

-

-

-

37

9

3

123

25

95

56

62

178

170

185

114

177

43

72

59

4

16

33

103

3

12

Depreciation and amortization

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

120

90

95

Base management fee

1,034

882

862

974

905

737

690

754

656

594

523

530

394

385

385

385

387

361

356

328

295

301

300

236

240

91

19

25

59

-

132

44

-

Incentive fee

1,334

-

-

-

0

-

-

-

-

1

261

76

350

169

22

159

0

-

0

0

-

-

-

-

-

0

0

0

41

-

-

-

-

Capital gains fee

-

-

0

-

-

-

778

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Management advisory fee

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

44

Administration fee

384

340

311

250

306

339

387

275

274

257

211

219

227

196

184

179

212

190

180

177

130

166

144

65

66

59

39

57

38

55

66

36

22

Property operating expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

81

65

-

24

28

18

15

64

27

10

General and administrative expenses

553

523

447

469

550

388

443

367

553

431

386

370

410

228

356

395

399

197

314

336

397

780

167

206

217

172

192

195

118

11

15

12

11

Other operating expenses

-

-

0

0

-

6

175

5,140

2,359

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total operating expenses

8,083

6,965

5,575

5,215

5,174

4,566

5,468

9,096

6,459

3,865

3,699

3,090

3,146

-

2,663

-

-

1,855

1,915

1,889

1,992

1,799

1,476

1,208

1,100

-

647

652

-

-

542

254

-

Credits to fees from Adviser

0

0

0

974

569

44

796

174

0

-

54

0

-

-

0

-

-

0

0

0

320

-

-

-

-

-

-

-

-

-

-

-

-

Credits to fees from Adviser

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

41

-

-

-

-

-

Total operating expenses, net of credits to fees

-

-

-

-

-

-

-

-

-

-

-

-

-

2,665

2,663

2,650

2,283

1,855

1,915

1,889

1,671

1,799

1,476

1,208

1,100

-

647

611

-

-

542

254

-

Total operating expenses, net of credits to fees

8,083

6,965

5,575

4,241

4,605

4,522

4,672

8,922

6,459

-

3,645

3,090

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

538

-

-

-

317

OPERATING INCOME

-

-

-

-

-

-

-

-

-

-

2,919

2,906

2,604

2,256

1,806

1,594

1,400

1,552

1,167

894

954

545

301

357

395

293

348

338

376

542

305

556

496

OTHER INCOME (EXPENSE):
Interest income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

17

14

10

0

0

0

0

Other income

1,324

2

62

48

826

48

1

9

315

18

4

0

184

3

2

9

95

1

26

1

19

-

-

-

6

-

-

-

-

0

0

1

2

Interest and other income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

9

4

-

-

-

-

-

-

-

-

-

Interest expense

4,963

4,934

4,401

3,543

3,453

3,401

3,082

2,815

2,832

2,778

2,634

2,193

2,157

1,719

1,554

1,487

1,255

1,198

1,064

947

949

728

501

405

374

286

276

276

280

287

246

255

217

Dividends declared on Series A cumulative term preferred stock

458

-

-

-

458

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Dividends declared on Series A cumulative term preferred stock

-

-

458

458

-

459

458

458

458

459

458

458

458

-

219

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on dispositions of real estate assets, net

-99

-175

-134

13

-32

-715

6,247

0

0

-

-78

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Distributions attributable to mandatorily-redeemable preferred stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Property and casualty recovery

66

0

17

-7

0

-65

0

0

-129

0

0

0

0

-

-

-

-

-

76

20

-

-

296

-250

-

-

-

-

-

-

-

-

-

Income from investments in unconsolidated entities

34

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Inventory Write-down

-

-

0

0

-

-

33

1,060

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total other expense, net

-4,096

-5,566

-4,914

-3,947

-3,117

-4,593

2,675

-4,324

-3,104

-3,162

-3,166

-2,651

-2,431

-2,174

-1,771

-1,478

-1,160

-1,183

-961

-924

-929

-484

-194

-651

-367

-272

-258

-261

-269

-286

-245

-253

-214

Net income (loss) before income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

61

107

-294

27

20

90

77

106

256

59

303

281

Income tax provision

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6

6

6

6

1,328

85

46

59

13

19

139

128

NET INCOME

3,101

957

523

174

108

-1,084

6,020

-1,852

-318

-215

-247

255

173

82

35

116

240

368

206

-30

24

-

-

-

-

-

-

-

-

-

-

-

-

Net income attributable to non-controlling interests

42

11

6

1

3

-69

337

-110

-21

-26

-26

28

21

8

3

8

6

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

NET INCOME ATTRIBUTABLE TO THE COMPANY

3,059

946

517

173

105

-1,015

5,683

-1,742

-297

-189

-221

227

152

74

32

108

234

368

206

-30

24

54

100

-301

20

-1,307

4

30

47

242

40

164

152

Dividends declared on Series B cumulative redeemable preferred stock

2,125

1,585

1,161

893

601

286

90

3

0

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS

934

-639

-644

-720

-496

-1,301

5,593

-1,745

-297

-

-221

227

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Earnings Per Share [Abstract]
EARNINGS (LOSS) PER COMMON SHARE:
Basic and diluted (in dollars per share)

0.04

-0.03

-0.03

-0.04

-0.03

-0.07

0.35

-0.11

-0.02

-0.01

-0.02

0.02

0.01

0.01

0.00

0.01

0.02

0.05

0.02

0.00

0.00

0.01

0.02

-0.05

0.00

-0.21

0.00

0.00

0.01

0.09

0.01

0.06

0.06

WEIGHTED-AVERAGE SHARES OF COMMON STOCK OUTSTANDING:
Basic and diluted (in shares)

21,262

20,975

20,763

18,641

18,028

16,491

16,057

15,506

13,957

13,704

12,271

11,850

10,395

10,025

10,018

9,992

9,992

9,303

9,060

8,439

7,753

7,745

6,605

6,530

6,530

6,547

6,530

6,530

5,249

2,750

2,750

2,750

2,750

COMPREHENSIVE INCOME:
Net Income (Loss) Attributable to Parent

3,059

-

517

-

105

-

5,683

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in fair value related to interest rate hedging instruments

-1,257

-

-347

-

0

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

COMPREHENSIVE INCOME ATTRIBUTABLE TO THE COMPANY

1,802

-

170

-

105

-

5,683

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Distributions per common share

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.36

0.36

0.08

-

-

-

-

Distributions declared per common share (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

0.13

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-