Gladstone Land authorizes up to $55M preferred stock buyback

Gladstone Land Corporation (Nasdaq: LAND) said its board of directors has authorized a preferred stock repurchase program totaling up to $55 million, according to a press release dated July 15, 2026.

The program includes up to $20 million of the company's 6.00% Series B Cumulative Redeemable Preferred Stock (Nasdaq: LANDO) and up to $35 million of its 6.00% Series C Cumulative Redeemable Preferred Stock (Nasdaq: LANDP).

Repurchases are intended to be conducted through open market transactions on U.S. exchanges or via privately negotiated transactions, in accordance with applicable securities laws. Market purchases will be made during applicable trading window periods or pursuant to Rule 10b5-1 trading plans.

The timing, prices, and sizes of repurchases will depend on prevailing market prices, general economic conditions, and other considerations. The authorization expires July 14, 2027, and may be suspended or discontinued at any time. The program does not obligate the company to acquire any specific amount of preferred stock.

David Gladstone, President and Chief Executive Officer, said the repurchase authorization is "part of a capital allocation strategy that we believe is in the best interest of our shareholders and our business."

Gladstone Land is a real estate investment trust that owns 142 farms comprising approximately 98,000 acres across 14 states, along with over 55,000 acre-feet of water assets in California.

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