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

Subsequent Events (Tables)

3 Months Ended

Mar. 31, 2019

The following table summarizes the leasing activity that occurred on our existing properties subsequent to March 31, 2019 (dollars in thousands):

PRIOR LEASE

NEW LEASES

Farm
Locations

Number

Leases

Total

Farm

Acres

Total

Annualized

Straight-line

Rent⁽¹⁾

# of Leases

with

Participation

Rents

Lease

Structures

(# of NNN

/ NN)

Total
Annualized
Straight-line
Rent⁽¹⁾

Wtd. Avg.

Term
(Years)

# of Leases
with
Participation
Rents

Lease
Structures
(# of NNN
/ NN)

0 / 1

3.0

0 / 1


⁽¹⁾	Annualized straight-line rent is based on the minimum cash rental payments guaranteed under the lease, as required under GAAP, and excludes contingent rental payments, such as participation rents.

On April 9, 2019, our Board of Directors declared the following monthly cash distributions to holders of our preferred and common stock:



Issuance	Record Date	Payment Date	Distribution per Share
Series A Term Preferred Stock:	April 22, 2019	April 30, 2019	$	0.1328125
	May 22, 2019	May 31, 2019	0.1328125
	June 19, 2019	June 28, 2019	0.1328125
Total Series A Term Preferred Stock Distributions:			$	0.3984375

Series B Preferred Stock:	April 24, 2019	May 3, 2019	$	0.125
	May 22, 2019	May 31, 2019	0.125
	June 26, 2019	July 5, 2019	0.125
Total Series B Preferred Stock Distributions:			$	0.375

Common Stock:	April 22, 2019	April 30, 2019	$	0.04450
	May 22, 2019	May 31, 2019	0.04450
	June 19, 2019	June 28, 2019	0.04450
Total Common Stock Distributions:			$	0.13350