MCLEAN, Va. – MCLEAN, Va. (AP) _ Gladstone Land Corp. (LAND) on Thursday reported a key measure of profitability in its third quarter.
The McLean, Virginia-based real estate investment trust said it had funds from operations of $2.4 million, or 15 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 net income of $5.6 million, or 35 cents per share.
The real estate investment trust specializing in farmland posted revenue of $8 million in the period.
The company's shares have declined 3 percent since the beginning of the year. The stock has fallen almost 5 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