Gladstone Land Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Equity (Tables)

Equity (Tables)

3 Months Ended

Mar. 31, 2020

Schedule of OP Units Tendered for Redemption

nformation related to OP Units tendered for redemption during the three months ended March 31, 2019, is provided in the table below (dollars in thousands, except per-unit amounts):



Period	OP Units Tendered for Redemption	Shares of Common Stock Issued	OP Units Redeemed with Cash	Aggregate Cash Payment		Aggregate Cash Paid per OP Unit
Three months ended March 31, 2019	570,879	570,879	0	$	—	$	—

Schedule of Sale of Stock by Subsidiary

The following table provides information on sales of the Series B Preferred Stock that occurred during the three months ended March 31, 2020 and 2019 (dollars in thousands, except per-share amounts):



Period	Number of Shares Sold	Weighted-average Offering Price per Share		Gross Proceeds		Net Proceeds⁽¹⁾
Three months ended March 31, 2020	1,229,531	$	24.52	$	30,148	$	27,664
Three months ended March 31, 2019	747,916	24.71		18,482		16,828


⁽¹⁾	Net of Series B Selling Commissions and Series B Dealer-Manager Fees borne by us.

The following table provides information on shares of common stock sold by the Sales Agents under the ATM Program during the three months ended March 31, 2020 (dollars in thousands, except per-share amounts):



Period	Number of Shares Sold	Weighted-average Offering Price Per Share		Gross Proceeds		Net Proceeds⁽¹⁾
Three months ended March 31, 2020	409,800	$	13.28	$	5,441	$	5,386


⁽¹⁾	Net of underwriting commissions and discounts.

Monthly Distributions Declared and Paid by Company's Board of Directors

The per-share distributions to preferred and common stockholders declared by our Board of Directors and paid by us (except as noted) during the three months ended March 31, 2020 and 2019 are reflected in the table below.



	For the Three Months Ended March 31,
Issuance	2020		2019
Series A Term Preferred Stock⁽¹⁾	$	0.3984375	$	0.3984375
Series B Preferred Stock⁽²⁾	0.375		0.375
Common Stock⁽³⁾	0.13395		0.13335


⁽¹⁾	Treated similar to interest expense on the accompanying Condensed Consolidated Statements of Operations and Comprehensive Income.


⁽²⁾	Of the dividends declared on the Series B Preferred Stock by our Board of Directors on January 8, 2019, approximately $236,000 was paid (as scheduled) by us on April 4, 2019.


⁽³⁾	The same amounts were paid as distributions on each OP Unit held by non-controlling OP Unitholders.