MCLEAN, Va. – MCLEAN, Va. (AP) _ Gladstone Land Corp. (LAND) on Tuesday reported a key measure of profitability in its first quarter.
The real estate investment trust, based in McLean, Virginia, said it had funds from operations of $2.1 million, or 14 cents per share, in the period.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had a loss of $318,000, or 2 cents per share.
The real estate investment trust specializing in farmland posted revenue of $9.2 million in the period.
The company's shares have decreased 5.5 percent since the beginning of the year. The stock has climbed 15 percent in the last 12 months.
This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on LAND at https://www.zacks.com/ap/LAND