$LAND
Gladstone Land Corp Stock $land

$land Overview Financials Valuation SEC Filings Company Website

2013 Q3 Form 10-Q Financial Statement

#000119312513324197 Filed on August 07, 2013

Income Statement

Concept	2013 Q3	2013 Q2	2012 Q2
Revenue	$996.1K	$949.8K	$811.9K
YoY Change	17.4%	16.98%
Cost Of Revenue	$647.5K	$611.3K	$254.9K
YoY Change	19.28%	139.81%
Gross Profit	$348.6K	$338.4K	$557.0K
YoY Change	14.07%	-39.24%
Gross Profit Margin	35.0%	35.63%	68.6%
Selling, General & Admin	$370.0K	$420.0K	$90.00K
YoY Change	208.33%	366.67%
% of Gross Profit	106.13%	124.11%	16.16%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$171.8K	$177.3K	$90.00K
YoY Change	43.13%	97.03%	-64.0%
% of Gross Profit	49.27%	52.4%	16.16%
Operating Expenses	$550.0K	$560.0K	$180.0K
YoY Change	129.17%	211.11%
Operating Profit	$348.6K	$338.4K	$557.0K
YoY Change	14.07%	-39.24%
Interest Expense	$276.0K	$276.0K	$255.5K
YoY Change	11.95%	8.05%
% of Operating Profit	79.18%	81.57%	45.87%
Other Income/Expense, Net	-$258.5K	-$261.2K	-$253.5K
YoY Change	5.09%	3.05%
Pretax Income	$90.17K	$77.19K	$303.5K
YoY Change	51.07%	-74.56%
Income Tax	$85.41K	$46.84K	$101.2K
% Of Pretax Income	94.72%	60.68%	33.34%
Net Earnings	$4.760K	$30.36K	$202.3K
YoY Change	-88.04%	-84.99%
Net Earnings / Revenue	0.48%	3.2%	24.92%
Basic Earnings Per Share
Diluted Earnings Per Share	$0.00	$4.594K	$57.55K
COMMON SHARES
Basic Shares Outstanding	6.530M shares
Diluted Shares Outstanding

Balance Sheet

Concept	2013 Q3	2013 Q2	2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments	$39.40M	$42.40M	$1.500M
YoY Change	3183.33%	2726.67%
Cash & Equivalents	$39.38M	$42.41M	$1.491M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets	$39.40M	$42.40M	$1.500M
YoY Change	3183.33%	2726.67%
LONG-TERM ASSETS
Property, Plant & Equipment	$41.90M	$41.50M	$30.20M
YoY Change	12.33%	37.42%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$700.0K	$700.0K
YoY Change
Other Assets	$300.0K	$300.0K	$200.0K
YoY Change	0.0%	50.0%
Total Long-Term Assets	$46.30M	$45.81M	$30.90M
YoY Change	18.42%	48.24%
TOTAL ASSETS
Total Short-Term Assets	$39.40M	$42.40M	$1.500M
Total Long-Term Assets	$46.30M	$45.81M	$30.90M
Total Assets	$85.70M	$88.21M	$32.40M
YoY Change	112.66%	172.24%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$700.0K	$600.0K	$500.0K
YoY Change	40.0%	20.0%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$100.0K	$100.0K
YoY Change	-100.0%	0.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$800.0K	$1.300M	$1.200M
YoY Change	-46.67%	8.33%
LONG-TERM LIABILITIES
Long-Term Debt	$29.60M	$29.50M	$23.20M
YoY Change	-3.58%	27.16%
Other Long-Term Liabilities	$300.0K
YoY Change
Total Long-Term Liabilities	$29.90M	$29.50M	$23.20M
YoY Change	-2.61%	27.16%
TOTAL LIABILITIES
Total Short-Term Liabilities	$800.0K	$1.300M	$1.200M
Total Long-Term Liabilities	$29.90M	$29.50M	$23.20M
Total Liabilities	$31.38M	$31.53M	$24.50M
YoY Change	-3.16%	28.71%
SHAREHOLDERS EQUITY
Retained Earnings	$2.992M	$5.339M
YoY Change
Common Stock	$6.530K	$6.530K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$54.33M	$56.67M	$7.900M
YoY Change
Total Liabilities & Shareholders Equity	$85.70M	$88.21M	$32.40M
YoY Change	112.66%	172.24%

Cashflow Statement

Concept	2013 Q3	2013 Q2	2012 Q2
OPERATING ACTIVITIES
Net Income	$4.760K	$30.36K	$202.3K
YoY Change	-88.04%	-84.99%
Depreciation, Depletion And Amortization	$171.8K	$177.3K	$90.00K
YoY Change	43.13%	97.03%	-64.0%
Cash From Operating Activities	-$110.0K	$870.0K	$640.0K
YoY Change	37.5%	35.94%	6.67%
INVESTING ACTIVITIES
Capital Expenditures	-$370.0K	-$4.680M	$0.00
YoY Change	-95.07%		-100.0%
Acquisitions
YoY Change
Other Investing Activities	-$200.0K	$20.06M	-$50.00K
YoY Change	-68.25%	-40220.0%	-100.6%
Cash From Investing Activities	-$560.0K	$15.37M	-$50.00K
YoY Change	-93.11%	-30840.0%	-54.55%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-2.350M	-2.910M	-130.0K
YoY Change	-129.67%	2138.46%	-88.29%
NET CHANGE
Cash From Operating Activities	-110.0K	870.0K	640.0K
Cash From Investing Activities	-560.0K	15.37M	-50.00K
Cash From Financing Activities	-2.350M	-2.910M	-130.0K
Net Change In Cash	-3.020M	13.33M	460.0K
YoY Change	941.38%	2797.83%	-174.19%
FREE CASH FLOW
Cash From Operating Activities	-$110.0K	$870.0K	$640.0K
Capital Expenditures	-$370.0K	-$4.680M	$0.00
Free Cash Flow	$260.0K	$5.550M	$640.0K
YoY Change	-96.5%	767.19%	-92.95%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
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CY2013Q3	us-gaap	Dividends Payable Amount Per Share DividendsPayableAmountPerShare	0.36
CY2012Q2	us-gaap	Property Subject To Or Available For Operating Lease Number Of Units PropertySubjectToOrAvailableForOperatingLeaseNumberOfUnits	6	Lease
CY2012Q2	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	1490542
CY2013Q1	land	Income Tax Prepayment On Deferred Intercompany Gains IncomeTaxPrepaymentOnDeferredIntercompanyGains	2100000
CY2013Q2	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	6530264	shares
CY2013Q2	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	6530264	shares
CY2013Q2	us-gaap	Land Subject To Ground Leases LandSubjectToGroundLeases	181	acre
CY2013Q2	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	20000000	shares
CY2013Q2	us-gaap	Property Subject To Or Available For Operating Lease Number Of Units PropertySubjectToOrAvailableForOperatingLeaseNumberOfUnits	10	Lease
CY2013Q2	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.001
CY2013Q2	us-gaap	Retained Earnings Unappropriated RetainedEarningsUnappropriated	9100000
CY2013Q2	us-gaap	Operating Leases Future Minimum Payments Due In Two Years OperatingLeasesFutureMinimumPaymentsDueInTwoYears	1237200
CY2013Q2	us-gaap	Real Estate Investment Property Accumulated Depreciation RealEstateInvestmentPropertyAccumulatedDepreciation	2818185
CY2013Q2	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	51326262
CY2013Q2	us-gaap	Operating Leases Future Minimum Payments Due In Four Years OperatingLeasesFutureMinimumPaymentsDueInFourYears	752580
CY2013Q2	us-gaap	Secured Long Term Debt SecuredLongTermDebt	29489165
CY2013Q2	us-gaap	Operating Leases Future Minimum Payments Due Thereafter OperatingLeasesFutureMinimumPaymentsDueThereafter	2060236
CY2013Q2	us-gaap	Unrecognized Tax Benefits UnrecognizedTaxBenefits	0
CY2013Q2	us-gaap	Real Estate And Accumulated Depreciation Amount Of Encumbrances RealEstateAndAccumulatedDepreciationAmountOfEncumbrances	29589165
CY2013Q2	us-gaap	Stockholders Equity StockholdersEquity	56671324
CY2013Q2	us-gaap	Accounts Payable And Accrued Liabilities Current And Noncurrent AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent	634247
CY2013Q2	us-gaap	Due To Related Parties Current DueToRelatedPartiesCurrent	74116
CY2013Q2	us-gaap	Operating Leases Future Minimum Payments Due In Five Years OperatingLeasesFutureMinimumPaymentsDueInFiveYears	568986
CY2013Q2	us-gaap	Due To Related Parties Current And Noncurrent DueToRelatedPartiesCurrentAndNoncurrent	74116
CY2013Q2	us-gaap	Line Of Credit LineOfCredit	100000
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	us-gaap	Interest Expense InterestExpense	556446
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CY2013Q2	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	5338532
CY2013Q2	us-gaap	Deferred Tax Liabilities DeferredTaxLiabilities	743676
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CY2013Q2	us-gaap	Common Stock Value CommonStockValue	6530
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CY2013Q2	us-gaap	Other Liabilities OtherLiabilities	492807
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CY2013Q2	us-gaap	Liabilities Liabilities	31534011
CY2013Q2	us-gaap	Operating Leases Future Minimum Payments Due In Three Years OperatingLeasesFutureMinimumPaymentsDueInThreeYears	791289
CY2013Q2	us-gaap	Commitments And Contingencies CommitmentsAndContingencies
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CY2013Q2	us-gaap	Finite Lived Intangible Assets Amortization Expense After Year Five FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive	20170
CY2013Q2	us-gaap	Real Estate Investment Property Net RealEstateInvestmentPropertyNet	41505357
CY2013Q2	us-gaap	Finite Lived Intangible Assets Amortization Expense Next Twelve Months FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths	22852
CY2013Q2	us-gaap	Land Land	33965058
CY2013Q2	us-gaap	Real Estate Investment Property At Cost RealEstateInvestmentPropertyAtCost	44323542
CY2013Q2	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	42405551
CY2013Q2	us-gaap	Short Term Investments ShortTermInvestments	680059
CY2013Q2	us-gaap	Business Acquisition Cost Of Acquired Entity Transaction Costs BusinessAcquisitionCostOfAcquiredEntityTransactionCosts	141152
CY2013Q2	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Two FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo	45787
CY2013Q2	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	192099
CY2013Q2	us-gaap	Deferred Finance Costs Net DeferredFinanceCostsNet	301490
CY2013Q2	us-gaap	Finite Lived Intangible Assets Gross FiniteLivedIntangibleAssetsGross	482097
CY2013Q2	us-gaap	Other Assets OtherAssets	3120779
CY2013Q2	us-gaap	Real Estate And Accumulated Depreciation Initial Cost Of Buildings And Improvements RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements	44805639
CY2013Q2	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Three FiniteLivedIntangibleAssetsAmortizationExpenseYearThree	43585
CY2013Q2	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Four FiniteLivedIntangibleAssetsAmortizationExpenseYearFour	32129
CY2013Q2	us-gaap	Deferred Tax Assets State Taxes DeferredTaxAssetsStateTaxes	100000
CY2013Q2	land	Fee Due To Administrator FeeDueToAdministrator	62863
CY2013Q2	land	Management Fee Due To Advisor ManagementFeeDueToAdvisor	25136
CY2013Q2	land	Finite Lived Intangible Assets Amortization Expense Year Six FiniteLivedIntangibleAssetsAmortizationExpenseYearSix	7057
CY2013Q2	land	Drain System DrainSystem	3307591
CY2013Q2	land	Cooler Cooler	4963243
CY2013Q2	land	Other Due To Advisor OtherDueToAdvisor	27154
CY2013Q2	land	Long Term Debt Remaining Availability LongTermDebtRemainingAvailability	18250000
CY2013Q2	land	Investment Building InvestmentBuilding	1640615
CY2013Q2	land	Income Tax Prepayment On Deferred Intercompany Gains IncomeTaxPrepaymentOnDeferredIntercompanyGains	2100000
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CY2013Q2	land	Deferred Intercompany Gain From Land Transfer DeferredIntercompanyGainFromLandTransfer	4000000
CY2013Q2	land	Operating Leases Future Minimum Payments Due In Six Years OperatingLeasesFutureMinimumPaymentsDueInSixYears	280232
CY2013Q2	land	Estimated Cost Of Well And Irrigation Equipment EstimatedCostOfWellAndIrrigationEquipment	400000
CY2013Q2	land	Expended Cost Of Well And Irrigation Equipment ExpendedCostOfWellAndIrrigationEquipment	39000
CY2013Q2	land	Estimated Additional Cost Of Well And Irrigation Equipment EstimatedAdditionalCostOfWellAndIrrigationEquipment	300000
CY2013Q2	land	Administrative Fee Due To Administrator AdministrativeFeeDueToAdministrator	57508
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	us-gaap	Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate	0.340	pure
	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	54258
	us-gaap	Professional Fees ProfessionalFees	249156
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CY2012Q4	land	Management Fee Due To Advisor ManagementFeeDueToAdvisor	46710
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CY2012Q4	land	Cooler Cooler	4963243
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CY2012Q4	land	Investment Building InvestmentBuilding	1311027
CY2012Q4	land	Administrative Fee Due To Administrator AdministrativeFeeDueToAdministrator	55138
	dei	Entity Registrant Name EntityRegistrantName	GLADSTONE LAND Corp
	dei	Amendment Flag AmendmentFlag	false
	dei	Entity Filer Category EntityFilerCategory	Non-accelerated Filer
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2013
	dei	Document Type DocumentType	10-Q
	dei	Document Period End Date DocumentPeriodEndDate	2013-06-30
	dei	Entity Central Index Key EntityCentralIndexKey	0001495240
	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q2
	us-gaap	Common Stock Dividends Per Share Declared CommonStockDividendsPerShareDeclared	0.44
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	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.577	pure
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	us-gaap	Proceeds From Issuance Initial Public Offering ProceedsFromIssuanceInitialPublicOffering	50000000
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	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-1692191
	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	0.01
	us-gaap	Prior Period Reclassification Adjustment Description PriorPeriodReclassificationAdjustmentDescription	<div> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Reclassifications</b></font></p> <p style="MARGIN-TOP: 6px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">Certain line items on the <i>Condensed Consolidated Balance Sheet</i> as of December 31, 2012, have been reclassified to conform to the current-year presentation. These reclassifications had no effect on previously-reported stockholders’ equity or net income.</font></p> </div>
	us-gaap	Effective Income Tax Rate Reconciliation State And Local Income Taxes EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes	0.234	pure
	us-gaap	Acquired Finite Lived Intangible Assets Weighted Average Useful Life AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife	P13Y8M12D
	us-gaap	Common Stock Dividends Per Share Cash Paid CommonStockDividendsPerShareCashPaid	0.44
	us-gaap	Use Of Estimates UseOfEstimates	<div> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Use of Estimates</b></font></p> <p style="MARGIN-TOP: 6px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could materially differ from those estimates.</font></p> </div>
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	land	Related Party Transaction Credit From Voluntary Irrevocable RelatedPartyTransactionCreditFromVoluntaryIrrevocable	41037
	land	Related Party Transaction Prior Administration Fee RelatedPartyTransactionPriorAdministrationFee	18532
	land	Related Party Transaction Amended Administration Fee RelatedPartyTransactionAmendedAdministrationFee	77308
	us-gaap	Dividends Dividends	2873316
	us-gaap	Asset Management Costs AssetManagementCosts	11253
	us-gaap	Impairment Of Real Estate ImpairmentOfRealEstate	0
	us-gaap	Management Fee Expense ManagementFeeExpense	84301
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	106027
	land	Maximum Payroll And Benefits Reimbursed As Percentage Of Average Invested Assets MaximumPayrollAndBenefitsReimbursedAsPercentageOfAverageInvestedAssets	0.020	pure
	land	State Income Tax Related To Deferred Intercompany Stock Account Remittance Period StateIncomeTaxRelatedToDeferredIntercompanyStockAccountRemittancePeriod	P5Y
	land	Pre Incentive Fee In Percentage Of Common Stockholders Equity That Awards Adviser Hundred Percent Of Amount Of Pre Incentive Fee Maximum Percentage PreIncentiveFeeInPercentageOfCommonStockholdersEquityThatAwardsAdviserHundredPercentOfAmountOfPreIncentiveFeeMaximumPercentage	0.021875	pure
	land	Administration Fee AdministrationFee	95840
	land	Management Advisory Fee Allocated Overhead Expenses ManagementAdvisoryFeeAllocatedOverheadExpenses	7538
	land	Maximum Management Advisory Fee As Percentage Of Average Invested Assets MaximumManagementAdvisoryFeeAsPercentageOfAverageInvestedAssets	0.020	pure
	land	Amount To Be Paid To Adviser In Percentage Of Pre Incentive Fee Condition Two AmountToBePaidToAdviserInPercentageOfPreIncentiveFeeConditionTwo	0.20	pure
	land	Incentive Fee Per Advisory Agreement IncentiveFeePerAdvisoryAgreement	0.0175	pure
	land	Number Of Real Estate Farms NumberOfRealEstateFarms	14	Farm
	land	Credit To Incentive Fee CreditToIncentiveFee	41037
	land	Percentage Of Real Estate Properties Revenue Recognized PercentageOfRealEstatePropertiesRevenueRecognized	1.000	pure
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	land	Management Advisory Fee Allocated Payroll And Benefits ManagementAdvisoryFeeAllocatedPayrollAndBenefits	38668
	land	Debt Instrument Weighted Average Interest Rate DebtInstrumentWeightedAverageInterestRate	0.0362	pure
	land	Related Party Transaction Management Fee Paid RelatedPartyTransactionManagementFeePaid	84301
	land	Minimum Annualized Lease Rental Income For Year One MinimumAnnualizedLeaseRentalIncomeForYearOne	125400
	land	Business Combination Consideration Transferred Including Transaction Costs BusinessCombinationConsiderationTransferredIncludingTransactionCosts	4582152
	land	Operating Leases Expiration Month Year OperatingLeasesExpirationMonthYear	2018-06
	land	Administration Fee Allocated Payroll And Benefits AdministrationFeeAllocatedPayrollAndBenefits	14034
	land	Pre Incentive Fee In Percentage Of Common Stockholders Equity That Awards Adviser Twenty Percent Of Amount Of Pre Incentive Fee Minimum Percentage PreIncentiveFeeInPercentageOfCommonStockholdersEquityThatAwardsAdviserTwentyPercentOfAmountOfPreIncentiveFeeMinimumPercentage	0.021875	pure
	land	Real Estate Properties Revenue Recognized RealEstatePropertiesRevenueRecognized	1864339
	land	Annualized Straight Line Rent Escalations AnnualizedStraightLineRentEscalations	280903
	land	Properties Acquisition Purchase Price PropertiesAcquisitionPurchasePrice	98808
	land	Annual Base Management Fee In Percentage Of Stockholders Equity In Excess Of Recorded Value Of Preferred Stock AnnualBaseManagementFeeInPercentageOfStockholdersEquityInExcessOfRecordedValueOfPreferredStock	0.010	pure
	land	Number Of Lease Agreement NumberOfLeaseAgreement	10	Agreement
	land	Area Of Real Estate Property Acquired AreaOfRealEstatePropertyAcquired	328	acre
	land	Minimum Percentage Likelihood To Recognize Tax Benefit From Uncertain Tax Position MinimumPercentageLikelihoodToRecognizeTaxBenefitFromUncertainTaxPosition	0.50	pure
	land	Administration Fee Allocated Overhead Expenses AdministrationFeeAllocatedOverheadExpenses	4498
	land	Percentage Of Expected Annual Base Management Fee To Aggregate Stockholders Equity PercentageOfExpectedAnnualBaseManagementFeeToAggregateStockholdersEquity	0.020	pure
	land	Percentage Of Area Of Land PercentageOfAreaOfLand	1.000	pure
	land	Debt Instrument Minimum Annualized Rate DebtInstrumentMinimumAnnualizedRate	0.0325	pure
	land	Related Party Transaction Administration Fee RelatedPartyTransactionAdministrationFee	95840
	land	Number Of Farms NumberOfFarms	14	Farm
	land	Annualized Incentive Fee Per Advisory Agreement AnnualizedIncentiveFeePerAdvisoryAgreement	0.07	pure
	land	Maximum Overhead Expenses As Percentage Of Average Invested Assets MaximumOverheadExpensesAsPercentageOfAverageInvestedAssets	0.020	pure
	land	Area Of Real Estate Properties AreaOfRealEstateProperties	1959	acre
	land	Lessee Leasing Arrangement Lease Renewal Term LesseeLeasingArrangementLeaseRenewalTerm	P5Y
	land	Number Of Farms Acquired NumberOfFarmsAcquired	2	Farm
	land	Operating Expenses Before Credit To Incentive Fee OperatingExpensesBeforeCreditToIncentiveFee	1190476
	land	Operating Expenses Net Of Credit To Incentive Fee OperatingExpensesNetOfCreditToIncentiveFee	1149439
	land	Initial Farmable Area Under Lease InitialFarmableAreaUnderLease	121	acre
	land	Additional Farmable Area Under Lease AdditionalFarmableAreaUnderLease	60	acre
	land	Related Party Transaction Prior Management Advisory Fee RelatedPartyTransactionPriorManagementAdvisoryFee	46206
	land	Related Party Transaction Amended Base Management Fee RelatedPartyTransactionAmendedBaseManagementFee	38095
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	us-gaap	Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate	0.340	pure
	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.458	pure
	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	2750000	shares
	us-gaap	Effective Income Tax Rate Reconciliation Other Adjustments EffectiveIncomeTaxRateReconciliationOtherAdjustments	0.016	pure
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	607965
	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	0.12
	us-gaap	Effective Income Tax Rate Reconciliation State And Local Income Taxes EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes	0.102	pure
	us-gaap	Repayments Of Long Term Lines Of Credit RepaymentsOfLongTermLinesOfCredit	1205000
	us-gaap	Payments Of Financing Costs PaymentsOfFinancingCosts	65375
	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	584893
	us-gaap	Other Nonoperating Income OtherNonoperatingIncome	3922
	us-gaap	Investment Income Interest InvestmentIncomeInterest	854
	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	-77896
	us-gaap	Repayments Of Secured Debt RepaymentsOfSecuredDebt	917120
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	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-468156
	us-gaap	Net Income Loss NetIncomeLoss	316977
	us-gaap	Operating Leases Income Statement Lease Revenue OperatingLeasesIncomeStatementLeaseRevenue	1625375
	us-gaap	Real Estate Revenue Net RealEstateRevenueNet	1625375
	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	57919
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	us-gaap	Deferred Income Tax Expense Benefit DeferredIncomeTaxExpenseBenefit	-47022
	us-gaap	Depreciation And Amortization DepreciationAndAmortization	185746
	us-gaap	Cash And Cash Equivalents Period Increase Decrease CashAndCashEquivalentsPeriodIncreaseDecrease	-513312
	us-gaap	Interest Expense InterestExpense	472932
	us-gaap	Business Combination Acquisition Related Costs BusinessCombinationAcquisitionRelatedCosts	16209
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-50000
	us-gaap	Increase Decrease In Other Operating Liabilities IncreaseDecreaseInOtherOperatingLiabilities	-29526
	us-gaap	Proceeds From Long Term Lines Of Credit ProceedsFromLongTermLinesOfCredit	100000
	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	185746
	us-gaap	Amortization Of Financing Costs AmortizationOfFinancingCosts	45975
	us-gaap	Cost Of Other Property Operating Expense CostOfOtherPropertyOperatingExpense	37175
	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	13604
	us-gaap	Professional Fees ProfessionalFees	162564
	us-gaap	Management Fee Expense ManagementFeeExpense	88175
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	267916
	land	Administration Fee AdministrationFee	59046
	land	Management Advisory Fee Allocated Overhead Expenses ManagementAdvisoryFeeAllocatedOverheadExpenses	23357
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	land	Management Advisory Fee Allocated Payroll And Benefits ManagementAdvisoryFeeAllocatedPayrollAndBenefits	64818
	land	Debt Instrument Weighted Average Interest Rate DebtInstrumentWeightedAverageInterestRate	0.0367	pure
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CY2009Q2	land	State Income Tax Related To Deferred Intercompany Stock Account StateIncomeTaxRelatedToDeferredIntercompanyStockAccount	98000
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	land	Related Party Transaction Management Fee Paid RelatedPartyTransactionManagementFeePaid	88175
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	land	Administration Fee Allocated Overhead Expenses AdministrationFeeAllocatedOverheadExpenses	14833
	land	Percentage Of Area Of Land PercentageOfAreaOfLand	1.000	pure
	land	Related Party Transaction Administration Fee RelatedPartyTransactionAdministrationFee	59046
	land	Dividend Declared Or Paid DividendDeclaredOrPaid	0
	land	Number Of Farms NumberOfFarms	8	Farm
	land	Area Of Real Estate Properties AreaOfRealEstateProperties	1288	acre
	land	Operating Expenses Before Credit To Incentive Fee OperatingExpensesBeforeCreditToIncentiveFee	572326
	land	Operating Expenses Net Of Credit To Incentive Fee OperatingExpensesNetOfCreditToIncentiveFee	572326
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	land	Related Party Transaction Prior Management Advisory Fee RelatedPartyTransactionPriorManagementAdvisoryFee	88175
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	land	Related Party Transaction Prior Administration Fee RelatedPartyTransactionPriorAdministrationFee	59046
	land	Payment For Deposits On Future Acquisitions PaymentForDepositsOnFutureAcquisitions	150000
CY2013Q1	land	Amount To Be Paid To Adviser In Percentage Of Pre Incentive Fee Condition One AmountToBePaidToAdviserInPercentageOfPreIncentiveFeeConditionOne	1.00	pure
CY2012	us-gaap	Asset Management Costs AssetManagementCosts	49644
CY2012	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	300319
CY2013Q1	land	Related Party Transaction Incentive Fee RelatedPartyTransactionIncentiveFee	41037
CY2012Q2	us-gaap	Line Of Credit Facility Expiration Date1 LineOfCreditFacilityExpirationDate1	2012-05-31
CY2012Q2	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	2750000	shares
CY2012Q2	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	0.06
CY2012Q2	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	303489
CY2012Q2	us-gaap	Other Nonoperating Income OtherNonoperatingIncome	1474
CY2012Q2	us-gaap	Investment Income Interest InvestmentIncomeInterest	518
CY2012Q2	us-gaap	Operating Income Loss OperatingIncomeLoss	556976
CY2012Q2	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-253487
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CY2012Q2	us-gaap	Operating Leases Income Statement Lease Revenue OperatingLeasesIncomeStatementLeaseRevenue	811900
CY2012Q2	us-gaap	Real Estate Revenue Net RealEstateRevenueNet	811900
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CY2013Q2	us-gaap	Common Stock Dividends Per Share Declared CommonStockDividendsPerShareDeclared	0.36
CY2013Q2	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	6530264	shares
CY2013Q2	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	0.00
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CY2013Q2	us-gaap	Investment Income Interest InvestmentIncomeInterest	14818
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CY2013Q2	us-gaap	Professional Fees ProfessionalFees	163764
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CY2013Q2	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	46838
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CY2013Q2	land	Credit To Incentive Fee CreditToIncentiveFee	41037
CY2013Q2	land	Debt Instrument Weighted Average Interest Rate DebtInstrumentWeightedAverageInterestRate	0.0363	pure
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CY2013Q2	land	Related Party Transaction Administration Fee RelatedPartyTransactionAdministrationFee	57508
CY2013Q2	land	Operating Expenses Before Credit To Incentive Fee OperatingExpensesBeforeCreditToIncentiveFee	652370
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CY2013Q2	land	Related Party Transaction Amended Base Management Fee RelatedPartyTransactionAmendedBaseManagementFee	25136
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CY2013Q2	land	Related Party Transaction Amended Administration Fee RelatedPartyTransactionAmendedAdministrationFee	57508

Files In Submission

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$LAND
Gladstone Land Corp Stock $land

2013 Q3 Form 10-Q Financial Statement

#000119312513324197 Filed on August 07, 2013

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$LAND Gladstone Land Corp Stock $land

2013 Q3 Form 10-Q Financial Statement

#000119312513324197 Filed on August 07, 2013

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$LAND
Gladstone Land Corp Stock $land