Gladstone: 2Q Earnings Snapshot

Associated Press
Updated

MCLEAN, Va. (AP) _ Gladstone Land Corp. (LAND) on Wednesday reported a key measure of profitability in its second quarter.

The McLean, Virginia-based real estate investment trust said it had funds from operations of $2.3 million, or 13 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 $719,000, or 4 cents per share.

The real estate investment trust specializing in farmland, based in McLean, Virginia, posted revenue of $8.4 million in the period.

The company's shares have risen 0.5% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $11.54, a decline of 11% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LAND at https://www.zacks.com/ap/LAND