Gladstone Land reported second-quarter GAAP earnings of $0.32 per share. Revenue rose 3.2% year-over-year to $12.69 million. Adjusted funds from operations improved to a loss of $1.6 million, or $0.04 per share, from a loss of $3.5 million, or $0.10 per share, in the prior-year quarter. The company paid monthly cash distributions totaling $0.1401 per share during the quarter. Cash flows from operations increased by approximately $16.0 million compared to the same period last year.
Gladstone Land CorporationQ2 earnings beat with improved AFFO and higher cash flows