Published May 09, 2018
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.
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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
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