$LAND
GLADSTONE LAND Corp

2020 Q4 Form 10-Q Financial Statement

#000149524020000017 Filed on November 04, 2020

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2019 Q3
Revenue $15.12M $13.99M $11.01M
YoY Change 12.08% 27.03% 37.36%
Cost Of Revenue $1.450M $1.370M $1.390M
YoY Change 2.84% -1.44% 6.11%
Gross Profit $13.67M $12.62M $9.630M
YoY Change 13.16% 31.05% 43.52%
Gross Profit Margin 90.41% 90.21% 87.45%
Selling, General & Admin $1.890M $1.580M $770.0K
YoY Change 9.88% 105.19% -52.17%
% of Gross Profit 13.83% 12.52% 8.0%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.650M $3.909M $3.419M
YoY Change 21.09% 14.33% 44.02%
% of Gross Profit 34.02% 30.97% 35.5%
Operating Expenses $6.540M $6.858M $5.575M
YoY Change 17.63% 23.01% 19.33%
Operating Profit $7.130M $5.762M $4.055M
YoY Change 9.36% 42.1% 21.23%
Interest Expense -$5.940M $5.202M $4.401M
YoY Change 10.2% 18.2% 42.8%
% of Operating Profit -83.31% 90.28% 108.53%
Other Income/Expense, Net $200.0K -$5.550M -$4.914M
YoY Change 12.94% -283.7%
Pretax Income $90.00K $1.580M $520.0K
YoY Change -90.63% 203.85% -91.36%
Income Tax
% Of Pretax Income
Net Earnings $110.0K $1.568M $517.0K
YoY Change -88.42% 203.29% -90.9%
Net Earnings / Revenue 0.73% 11.21% 4.69%
Basic Earnings Per Share -$0.04
Diluted Earnings Per Share $4.516K -$0.04 $25.05K
COMMON SHARES
Basic Shares Outstanding 24.10M shares 21.99M shares 20.81M shares
Diluted Shares Outstanding 21.99M shares

Balance Sheet

Concept 2020 Q4 2020 Q3 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $9.200M $6.500M $4.000M
YoY Change -32.85% 62.5% 37.93%
Cash & Equivalents $9.218M $6.455M $3.992M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $9.200M $6.500M $4.000M
YoY Change -32.85% 62.5% 37.93%
LONG-TERM ASSETS
Property, Plant & Equipment $1.046B $858.8M $740.8M
YoY Change 32.06% 15.93% 49.02%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.200M $900.0K
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $1.058B $871.9M $753.0M
YoY Change 31.75% 15.78% 48.53%
TOTAL ASSETS
Total Short-Term Assets $9.200M $6.500M $4.000M
Total Long-Term Assets $1.058B $871.9M $753.0M
Total Assets $1.067B $878.4M $757.0M
YoY Change 30.67% 16.03% 48.47%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.100M $12.00M $7.000M
YoY Change -9.9% 71.43% 9.38%
Accrued Expenses $100.0K $200.0K
YoY Change -50.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $11.70M $14.30M $8.400M
YoY Change -6.4% 70.24% 13.51%
LONG-TERM LIABILITIES
Long-Term Debt $652.7M $532.1M $480.4M
YoY Change 27.91% 10.76% 39.53%
Other Long-Term Liabilities $19.10M $14.70M $15.00M
YoY Change 26.49% -2.0% 36.36%
Total Long-Term Liabilities $671.8M $546.8M $495.4M
YoY Change 27.86% 10.38% 39.43%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.70M $14.30M $8.400M
Total Long-Term Liabilities $671.8M $546.8M $495.4M
Total Liabilities $683.5M $561.1M $503.7M
YoY Change 27.09% 11.38% 38.89%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $440.5M $368.5M $286.6M
YoY Change 39.49% 28.58% 74.79%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $383.8M $317.3M $250.9M
YoY Change
Total Liabilities & Shareholders Equity $1.067B $878.4M $757.0M
YoY Change 30.67% 16.03% 48.47%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2019 Q3
OPERATING ACTIVITIES
Net Income $110.0K $1.568M $517.0K
YoY Change -88.42% 203.29% -90.9%
Depreciation, Depletion And Amortization $4.650M $3.909M $3.419M
YoY Change 21.09% 14.33% 44.02%
Cash From Operating Activities $13.41M $1.650M $9.640M
YoY Change 79.52% -82.88% 170.79%
INVESTING ACTIVITIES
Capital Expenditures -$197.1M -$40.82M -$156.1M
YoY Change 274.32% -73.85% 384.33%
Acquisitions
YoY Change
Other Investing Activities -$200.0K $300.0K $750.0K
YoY Change 300.0% -60.0% 275.0%
Cash From Investing Activities -$197.3M -$40.52M -$155.4M
YoY Change 274.35% -73.92% 385.01%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 186.6M 20.54M 121.0M
YoY Change 239.78% -83.02% 319.81%
NET CHANGE
Cash From Operating Activities 13.41M 1.650M 9.640M
Cash From Investing Activities -197.3M -40.52M -155.4M
Cash From Financing Activities 186.6M 20.54M 121.0M
Net Change In Cash 2.770M -18.33M -24.72M
YoY Change -71.44% -25.85% -7162.86%
FREE CASH FLOW
Cash From Operating Activities $13.41M $1.650M $9.640M
Capital Expenditures -$197.1M -$40.82M -$156.1M
Free Cash Flow $210.5M $42.47M $165.7M
YoY Change 250.12% -74.38% 363.09%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Entity Central Index Key
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0001495240
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2020
dei Document Fiscal Period Focus
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dei Amendment Flag
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dei Document Type
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dei Document Quarterly Report
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true
dei Document Period End Date
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2020-09-30
dei Document Transition Report
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dei Entity File Number
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dei Entity Registrant Name
EntityRegistrantName
GLADSTONE LAND CORP
dei Entity Incorporation State Country Code
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MD
dei Entity Tax Identification Number
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dei Entity Address Address Line1
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317315000 USD
CY2019Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
231354000 USD
CY2019Q3 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
3276000 USD
CY2019Q3 us-gaap Profit Loss
ProfitLoss
523000 USD
CY2019Q3 us-gaap Dividends Preferred Stock
DividendsPreferredStock
1161000 USD
CY2019Q3 land Stockholders Equity Decreasefrom Distributions
StockholdersEquityDecreasefromDistributions
2820000 USD
CY2019Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-347000 USD
CY2019Q3 land Noncontrolling Interest Increase Decrease From Changes In Ownership Of Subsidiary
NoncontrollingInterestIncreaseDecreaseFromChangesInOwnershipOfSubsidiary
0 USD
CY2019Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
253290000 USD
CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
181053000 USD
us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
3276000 USD
us-gaap Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
0 USD
us-gaap Profit Loss
ProfitLoss
804000 USD
us-gaap Dividends Preferred Stock
DividendsPreferredStock
2655000 USD
land Stockholders Equity Decreasefrom Distributions
StockholdersEquityDecreasefromDistributions
7749000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-347000 USD
land Noncontrolling Interest Increase Decrease From Changes In Ownership Of Subsidiary
NoncontrollingInterestIncreaseDecreaseFromChangesInOwnershipOfSubsidiary
0 USD
CY2019Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
253290000 USD
us-gaap Profit Loss
ProfitLoss
4864000 USD
us-gaap Profit Loss
ProfitLoss
804000 USD
land Depreciation Depletionand Amortization Excluding Operating Lease Rightof Use Asset Amortization Expenseand Debt Issuance Costs
DepreciationDepletionandAmortizationExcludingOperatingLeaseRightofUseAssetAmortizationExpenseandDebtIssuanceCosts
12010000 USD
land Depreciation Depletionand Amortization Excluding Operating Lease Rightof Use Asset Amortization Expenseand Debt Issuance Costs
DepreciationDepletionandAmortizationExcludingOperatingLeaseRightofUseAssetAmortizationExpenseandDebtIssuanceCosts
8952000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
559000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
461000 USD
land Amortization Of Deferred Rent Asset And Liability Net
AmortizationOfDeferredRentAssetAndLiabilityNet
-212000 USD
land Amortization Of Deferred Rent Asset And Liability Net
AmortizationOfDeferredRentAssetAndLiabilityNet
-226000 USD
land Operating Lease Right Of Use Asset Operating Lease Liabilities Amortization Expense
OperatingLeaseRightOfUseAssetOperatingLeaseLiabilitiesAmortizationExpense
12000 USD
land Operating Lease Right Of Use Asset Operating Lease Liabilities Amortization Expense
OperatingLeaseRightOfUseAssetOperatingLeaseLiabilitiesAmortizationExpense
18000 USD
us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
7000 USD
us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
0 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
12000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
24000 USD
us-gaap Gain Loss On Disposition Of Real Estate Discontinued Operations
GainLossOnDispositionOfRealEstateDiscontinuedOperations
-861000 USD
us-gaap Gain Loss On Disposition Of Real Estate Discontinued Operations
GainLossOnDispositionOfRealEstateDiscontinuedOperations
-154000 USD
land Gain Loss On Business Interruption Insurance Recovery
GainLossOnBusinessInterruptionInsuranceRecovery
68000 USD
land Gain Loss On Business Interruption Insurance Recovery
GainLossOnBusinessInterruptionInsuranceRecovery
10000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
3192000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-281000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-1663000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-1586000 USD
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-1559000 USD
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
5066000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
11593000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
13902000 USD
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
64658000 USD
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
200676000 USD
us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
10725000 USD
us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
8974000 USD
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
247000 USD
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
0 USD
us-gaap Payments For Proceeds From Deposits On Real Estate Acquisitions
PaymentsForProceedsFromDepositsOnRealEstateAcquisitions
550000 USD
us-gaap Payments For Proceeds From Deposits On Real Estate Acquisitions
PaymentsForProceedsFromDepositsOnRealEstateAcquisitions
300000 USD
land Insurance Proceeds Capitalized As Real Estate Additions
InsuranceProceedsCapitalizedAsRealEstateAdditions
66000 USD
land Insurance Proceeds Capitalized As Real Estate Additions
InsuranceProceedsCapitalizedAsRealEstateAdditions
0 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-75620000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-209950000 USD
us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
55231000 USD
us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
86070000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
3636000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
6551000 USD
us-gaap Payments For Repurchase Of Preferred Stock And Preference Stock
PaymentsForRepurchaseOfPreferredStockAndPreferenceStock
681000 USD
us-gaap Payments For Repurchase Of Preferred Stock And Preference Stock
PaymentsForRepurchaseOfPreferredStockAndPreferenceStock
213000 USD
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
20781000 USD
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
120399000 USD
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
10599000 USD
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
7686000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
19000000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
22900000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
7500000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
18900000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
497000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
738000 USD
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
6546000 USD
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
2222000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
8691000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
7658000 USD
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
68000 USD
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
91000 USD
us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
0 USD
us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
0 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
56794000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
185310000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-7233000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-10738000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
13688000 USD
land Noncash Or Part Noncash Acquisition Lender Holdback On Loan Issuance
NoncashOrPartNoncashAcquisitionLenderHoldbackOnLoanIssuance
0 USD
land Noncash Or Part Noncash Acquisition Lender Holdback On Loan Issuance
NoncashOrPartNoncashAcquisitionLenderHoldbackOnLoanIssuance
498000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
14730000 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6455000 USD
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3992000 USD
land Noncash Or Part Noncash Divestitures Noncontrolling Interest In Operating Partnerships
NoncashOrPartNoncashDivestituresNoncontrollingInterestInOperatingPartnerships
0 USD
land Noncash Or Part Noncash Divestitures Noncontrolling Interest In Operating Partnerships
NoncashOrPartNoncashDivestituresNoncontrollingInterestInOperatingPartnerships
3290000 USD
CY2020Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
0 USD
CY2019Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
188000 USD
CY2020Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
0 USD
CY2019Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
171000 USD
land Additions To Real Estate Included In Accounts Payable And Accrued Expenses And Contingent Consideration Owed
AdditionsToRealEstateIncludedInAccountsPayableAndAccruedExpensesAndContingentConsiderationOwed
5363000 USD
land Additions To Real Estate Included In Accounts Payable And Accrued Expenses And Contingent Consideration Owed
AdditionsToRealEstateIncludedInAccountsPayableAndAccruedExpensesAndContingentConsiderationOwed
1397000 USD
land Loss On Disposal Of Real Estate Asset Included In Accounts Payable Accrued Expenses And Due To Related Parties
LossOnDisposalOfRealEstateAssetIncludedInAccountsPayableAccruedExpensesAndDueToRelatedParties
0 USD
land Loss On Disposal Of Real Estate Asset Included In Accounts Payable Accrued Expenses And Due To Related Parties
LossOnDisposalOfRealEstateAssetIncludedInAccountsPayableAccruedExpensesAndDueToRelatedParties
119000 USD
land Common Stock Offering And Operating Partnership Unit Issuance Costs Included In Accounts Payable And Accrued Expenses
CommonStockOfferingAndOperatingPartnershipUnitIssuanceCostsIncludedInAccountsPayableAndAccruedExpenses
0 USD
land Common Stock Offering And Operating Partnership Unit Issuance Costs Included In Accounts Payable And Accrued Expenses
CommonStockOfferingAndOperatingPartnershipUnitIssuanceCostsIncludedInAccountsPayableAndAccruedExpenses
35000 USD
land Financing Fees Included In Accounts Payable And Accrued Liabilities
FinancingFeesIncludedInAccountsPayableAndAccruedLiabilities
16000 USD
land Financing Fees Included In Accounts Payable And Accrued Liabilities
FinancingFeesIncludedInAccountsPayableAndAccruedLiabilities
14000 USD
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Before Tax Noncontrolling Interest
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTaxNoncontrollingInterest
-1721000 USD
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Before Tax Noncontrolling Interest
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTaxNoncontrollingInterest
-347000 USD
us-gaap Use Of Estimates
UseOfEstimates
<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances, including the impact of extraordinary events, such as the novel coronavirus (“COVID-19”) pandemic, the results of which form the basis for making certain judgments. Actual results may materially differ from these estimates.</span></div>
CY2019Q4 land Numberof Impaired Properties
NumberofImpairedProperties
0 property
CY2020Q3 land Numberof Impaired Properties
NumberofImpairedProperties
0 property
CY2020Q3 land Numberof Tenants Lease Properties
NumberofTenantsLeaseProperties
2 tenant
land Number Of Real Estate Farms
NumberOfRealEstateFarms
123 farm
land Number Of Real Estate Farms
NumberOfRealEstateFarms
123 farm
CY2020Q3 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
92601 acre
CY2020Q3 land Farmable Area Of Land
FarmableAreaOfLand
75580 acre
CY2020Q3 land Sec Schedule Iii Real Estate Investment Property Including Intangible Assets Net
SecScheduleIiiRealEstateInvestmentPropertyIncludingIntangibleAssetsNet
860790000 USD
CY2020Q3 srt Real Estate And Accumulated Depreciation Amount Of Encumbrances
RealEstateAndAccumulatedDepreciationAmountOfEncumbrances
506732000 USD
CY2020Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
3200000 USD
CY2020Q3 us-gaap Land And Land Improvements
LandAndLandImprovements
632178000 USD
CY2019Q4 us-gaap Land And Land Improvements
LandAndLandImprovements
583247000 USD
CY2020Q3 land Irrigation Equipment System
IrrigationEquipmentSystem
121826000 USD
CY2019Q4 land Irrigation Equipment System
IrrigationEquipmentSystem
108222000 USD
CY2020Q3 land Real Estate And Accumulated Depreciation Carrying Amount Of Horticulture
RealEstateAndAccumulatedDepreciationCarryingAmountOfHorticulture
120684000 USD
CY2019Q4 land Real Estate And Accumulated Depreciation Carrying Amount Of Horticulture
RealEstateAndAccumulatedDepreciationCarryingAmountOfHorticulture
107941000 USD
CY2020Q3 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
21879000 USD
CY2019Q4 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
20665000 USD
CY2020Q3 land Real Estate Other Site Improvements
RealEstateOtherSiteImprovements
7245000 USD
CY2019Q4 land Real Estate Other Site Improvements
RealEstateOtherSiteImprovements
7180000 USD
CY2020Q3 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
903812000 USD
CY2019Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
827255000 USD
CY2020Q3 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
45059000 USD
CY2019Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
35174000 USD
CY2020Q3 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
858753000 USD
CY2019Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
792081000 USD
CY2020Q3 us-gaap Depreciation
Depreciation
3600000 USD
us-gaap Depreciation
Depreciation
10600000 USD
CY2019Q3 us-gaap Depreciation
Depreciation
3000000.0 USD
us-gaap Depreciation
Depreciation
7800000 USD
CY2020Q3 us-gaap Tenant Improvements
TenantImprovements
2000000.0 USD
CY2019Q4 us-gaap Tenant Improvements
TenantImprovements
2200000 USD
CY2020Q3 land Tenant Improvements Depreciationand Rental Revenue
TenantImprovementsDepreciationandRentalRevenue
76000 USD
land Tenant Improvements Depreciationand Rental Revenue
TenantImprovementsDepreciationandRentalRevenue
228000 USD
CY2019Q3 land Tenant Improvements Depreciationand Rental Revenue
TenantImprovementsDepreciationandRentalRevenue
72000 USD
land Tenant Improvements Depreciationand Rental Revenue
TenantImprovementsDepreciationandRentalRevenue
218000 USD
CY2020Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
294000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1400000 USD
CY2019Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
460000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1100000 USD
CY2020Q3 land Amortization Of Above Market Lease
AmortizationOfAboveMarketLease
32000 USD
land Amortization Of Above Market Lease
AmortizationOfAboveMarketLease
94000 USD
CY2019Q3 land Amortization Of Above Market Lease
AmortizationOfAboveMarketLease
31000 USD
land Amortization Of Above Market Lease
AmortizationOfAboveMarketLease
97000 USD
CY2020Q3 us-gaap Below Market Lease Period Increase Decrease
BelowMarketLeasePeriodIncreaseDecrease
28000 USD
us-gaap Below Market Lease Period Increase Decrease
BelowMarketLeasePeriodIncreaseDecrease
78000 USD
CY2019Q3 us-gaap Below Market Lease Period Increase Decrease
BelowMarketLeasePeriodIncreaseDecrease
46000 USD
us-gaap Below Market Lease Period Increase Decrease
BelowMarketLeasePeriodIncreaseDecrease
123000 USD
us-gaap Limited Liability Company Llc Or Limited Partnership Lp Members Or Limited Partners Ownership Interest
LimitedLiabilityCompanyLLCOrLimitedPartnershipLPMembersOrLimitedPartnersOwnershipInterest
0.375
CY2020Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-19000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
7000 USD
land Number Of Real Estate Farms
NumberOfRealEstateFarms
123 farm
CY2020Q3 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
92601 acre
land Percentage Of Area Of Land
PercentageOfAreaOfLand
1.000
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
41907000 USD
land Percentage Of Rental Revenue
PercentageOfRentalRevenue
1.000
land Number Of Real Estate Farms
NumberOfRealEstateFarms
105 farm
CY2019Q3 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
81586 acre
land Percentage Of Area Of Land
PercentageOfAreaOfLand
1.000
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
27203000 USD
land Percentage Of Rental Revenue
PercentageOfRentalRevenue
1.000
land Numberof Tenants Lease Properties
NumberofTenantsLeaseProperties
73 tenant
CY2020Q3 us-gaap Long Term Debt
LongTermDebt
503521000 USD
CY2019Q4 us-gaap Long Term Debt
LongTermDebt
481929000 USD
CY2020Q3 us-gaap Increase Decrease In Fair Value Of Interest Rate Fair Value Hedging Instruments1
IncreaseDecreaseInFairValueOfInterestRateFairValueHedgingInstruments1
95000 USD
us-gaap Increase Decrease In Fair Value Of Interest Rate Fair Value Hedging Instruments1
IncreaseDecreaseInFairValueOfInterestRateFairValueHedgingInstruments1
-1331000 USD
land Numberof Executive Officers That Serve As Directors
NumberofExecutiveOfficersThatServeAsDirectors
2 officer
land Amount To Be Paid To Adviser In Percentage Of Pre Incentive Fee Condition One
AmountToBePaidToAdviserInPercentageOfPreIncentiveFeeConditionOne
1
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
land Maximum Annual Percentage Of Stockholders Equity To Pay Full Pre Incentive Fee To Adviser
MaximumAnnualPercentageOfStockholdersEquityToPayFullPreIncentiveFeeToAdviser
0.0875
land Amount To Be Paid To Adviser In Percentage Of Pre Incentive Fee Condition Two
AmountToBePaidToAdviserInPercentageOfPreIncentiveFeeConditionTwo
0.20
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
land Maximum Annual Percentage Of Stockholders Equity To Pay Full Pre Incentive Fee To Adviser
MaximumAnnualPercentageOfStockholdersEquityToPayFullPreIncentiveFeeToAdviser
0.0875
land Percentageof Incentive Feeson Capital Gains
PercentageofIncentiveFeesonCapitalGains
0.15
land Notice Period For Termination Of Agreement Without Cause
NoticePeriodForTerminationOfAgreementWithoutCause
P120D
CY2020Q3 us-gaap Management Fee Expense
ManagementFeeExpense
1078000 USD
CY2019Q3 us-gaap Management Fee Expense
ManagementFeeExpense
862000 USD
us-gaap Management Fee Expense
ManagementFeeExpense
3159000 USD
us-gaap Management Fee Expense
ManagementFeeExpense
2741000 USD
CY2020Q3 us-gaap Incentive Fee Expense
IncentiveFeeExpense
821000 USD
CY2019Q3 us-gaap Incentive Fee Expense
IncentiveFeeExpense
0 USD
us-gaap Incentive Fee Expense
IncentiveFeeExpense
2155000 USD
us-gaap Incentive Fee Expense
IncentiveFeeExpense
0 USD
CY2020Q3 land Credits To Fees From Adviser
CreditsToFeesFromAdviser
0 USD
CY2019Q3 land Credits To Fees From Adviser
CreditsToFeesFromAdviser
0 USD
land Credits To Fees From Adviser
CreditsToFeesFromAdviser
0 USD
land Credits To Fees From Adviser
CreditsToFeesFromAdviser
1542000 USD
CY2020Q3 land Related Party Transaction Net Incentive Fees Paid And Credits Received
RelatedPartyTransactionNetIncentiveFeesPaidAndCreditsReceived
1899000 USD
CY2019Q3 land Related Party Transaction Net Incentive Fees Paid And Credits Received
RelatedPartyTransactionNetIncentiveFeesPaidAndCreditsReceived
862000 USD
land Related Party Transaction Net Incentive Fees Paid And Credits Received
RelatedPartyTransactionNetIncentiveFeesPaidAndCreditsReceived
5314000 USD
land Related Party Transaction Net Incentive Fees Paid And Credits Received
RelatedPartyTransactionNetIncentiveFeesPaidAndCreditsReceived
1199000 USD
CY2020Q3 land Administration Fee
AdministrationFee
344000 USD
CY2019Q3 land Administration Fee
AdministrationFee
311000 USD
land Administration Fee
AdministrationFee
1084000 USD
land Administration Fee
AdministrationFee
866000 USD
CY2020Q3 land Selling Commissionsand Dealer Manager Fees
SellingCommissionsandDealerManagerFees
598000 USD
CY2019Q3 land Selling Commissionsand Dealer Manager Fees
SellingCommissionsandDealerManagerFees
1777000 USD
land Selling Commissionsand Dealer Manager Fees
SellingCommissionsandDealerManagerFees
3368000 USD
land Selling Commissionsand Dealer Manager Fees
SellingCommissionsandDealerManagerFees
5089000 USD
CY2020Q3 land Financing Fee
FinancingFee
7000 USD
CY2019Q3 land Financing Fee
FinancingFee
160000 USD
land Financing Fee
FinancingFee
35000 USD
land Financing Fee
FinancingFee
188000 USD
CY2020Q3 land Management Feesand Financing Fees
ManagementFeesandFinancingFees
605000 USD
CY2019Q3 land Management Feesand Financing Fees
ManagementFeesandFinancingFees
1937000 USD
land Management Feesand Financing Fees
ManagementFeesandFinancingFees
3403000 USD
land Management Feesand Financing Fees
ManagementFeesandFinancingFees
5277000 USD
CY2020Q3 land Management Fee Due To Advisor
ManagementFeeDueToAdvisor
1078000 USD
CY2019Q4 land Management Fee Due To Advisor
ManagementFeeDueToAdvisor
881000 USD
CY2020Q3 land Incentive Feedueto Advisor
IncentiveFeeduetoAdvisor
821000 USD
CY2019Q4 land Incentive Feedueto Advisor
IncentiveFeeduetoAdvisor
847000 USD
CY2020Q3 land Other Due To Advisor
OtherDueToAdvisor
23000 USD
CY2019Q4 land Other Due To Advisor
OtherDueToAdvisor
25000 USD
CY2020Q3 land Due To From Adviser
DueToFromAdviser
1922000 USD
CY2019Q4 land Due To From Adviser
DueToFromAdviser
1753000 USD
CY2020Q3 land Administrative Fee Due To Administrator
AdministrativeFeeDueToAdministrator
344000 USD
CY2019Q4 land Administrative Fee Due To Administrator
AdministrativeFeeDueToAdministrator
341000 USD
CY2020Q3 land Cumulative Accruedbut Unpaid Priorto Administrative Fee Due To Administrator
CumulativeAccruedbutUnpaidPriortoAdministrativeFeeDueToAdministrator
0 USD
CY2019Q4 land Cumulative Accruedbut Unpaid Priorto Administrative Fee Due To Administrator
CumulativeAccruedbutUnpaidPriortoAdministrativeFeeDueToAdministrator
75000 USD
CY2020Q3 land Fee Due To Administrator
FeeDueToAdministrator
344000 USD
CY2019Q4 land Fee Due To Administrator
FeeDueToAdministrator
416000 USD
CY2020Q3 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
2266000 USD
CY2019Q4 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
2169000 USD
CY2020Q1 us-gaap Preferred Stock Capital Shares Reserved For Future Issuance
PreferredStockCapitalSharesReservedForFutureIssuance
26000000 shares
CY2020Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
91500000 shares
CY2020Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
65500000 shares
land Partners Capital Account Units Issued
PartnersCapitalAccountUnitsIssued
288303 USD
CY2019Q3 land Partners Capital Account Units Issued
PartnersCapitalAccountUnitsIssued
288303 USD
CY2019Q3 land Partners Capital Account Weighted Average Issuance Price
PartnersCapitalAccountWeightedAverageIssuancePrice
11.41
land Partners Capital Account Weighted Average Issuance Price
PartnersCapitalAccountWeightedAverageIssuancePrice
11.41
CY2019Q3 us-gaap Mandatorily Redeemable Preferred Stock Fair Value Disclosure
MandatorilyRedeemablePreferredStockFairValueDisclosure
3290000 USD
CY2020Q3 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
12838000 USD
CY2019Q3 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
10131000 USD
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
37450000 USD
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
26236000 USD
CY2020Q3 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
1151000 USD
CY2019Q3 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
881000 USD
CY2019Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-644000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1981000 USD
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
4457000 USD
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
967000 USD
CY2020Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
13989000 USD
CY2019Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
11012000 USD
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
41907000 USD
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
27203000 USD
CY2020Q3 us-gaap Payments For Rent
PaymentsForRent
1100000 USD
us-gaap Payments For Rent
PaymentsForRent
1200000 USD
CY2020Q3 land Operating Lease Lease Reimbursements
OperatingLeaseLeaseReimbursements
19000 USD
land Operating Lease Lease Reimbursements
OperatingLeaseLeaseReimbursements
441000 USD
CY2019Q3 us-gaap Payments For Rent
PaymentsForRent
848000 USD
us-gaap Payments For Rent
PaymentsForRent
874000 USD
CY2019Q3 land Operating Lease Lease Reimbursements
OperatingLeaseLeaseReimbursements
33000 USD
land Operating Lease Lease Reimbursements
OperatingLeaseLeaseReimbursements
93000 USD
us-gaap Gain Loss On Termination Of Lease
GainLossOnTerminationOfLease
3000000.0 USD
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-837000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1860000 USD
CY2020Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
21991291 shares
CY2019Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
20763615 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
21558859 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
19154744 shares
CY2020Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.04
CY2019Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.03
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.09
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.10
CY2020Q3 land Weighted Average Number Of Operating Partnership Units Held By Noncontrolling Interest
WeightedAverageNumberOfOperatingPartnershipUnitsHeldByNoncontrollingInterest
16452 shares
land Weighted Average Number Of Operating Partnership Units Held By Noncontrolling Interest
WeightedAverageNumberOfOperatingPartnershipUnitsHeldByNoncontrollingInterest
175981 shares
CY2019Q3 land Weighted Average Number Of Operating Partnership Units Held By Noncontrolling Interest
WeightedAverageNumberOfOperatingPartnershipUnitsHeldByNoncontrollingInterest
222494 shares
land Weighted Average Number Of Operating Partnership Units Held By Noncontrolling Interest
WeightedAverageNumberOfOperatingPartnershipUnitsHeldByNoncontrollingInterest
217857 shares

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