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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Wed., Sep. 24, 12:23 AM

Slide #2. Gladstone Land Corporation Secondary Offering

Company: Gladstone Land Corporation (NASDAQ:LAND)
Date announced: 9/23/2014
Shares Offered: 1,150,000
Secondary Offering Details: Gladstone Land Corporation (Nasdaq:LAND) (the "Company") today announced that it plans to sell approximately 1,150,000 shares of its common stock in an underwritten public offering. The Company also plans to grant the underwriters a 30-day option to purchase approximately 172,500 additional shares of common stock to cover over-allotments, if any. Janney Montgomery Scott LLC, Oppenheimer & Co. Inc. and JMP Securities LLC are serving as the joint book running managers for the offering. Ladenburg Thalmann & Co. Inc., Maxim Group LLC, J.J.B. Hilliard, W.L. Lyons, LLC and Sidoti & Company, LLC are serving as co-managers.

Gladstone Land is a real estate company. Co.'s operations consist of leasing its farms to independent tenant farmers and corporate tenant farmers. Co.'s farmland is mainly concentrated in locations where tenants are able to grow annual row crops such as berries, lettuce and other row crops, which are planted and harvested annually or more frequently. As of Mar 25 2013, Co. owned 12 farms, leased to eight separate tenants, including two cooler buildings and one box barn, which is a facility used for storage and assembly of boxes for shipping produce. Five of these farms are located in or near Watsonville, CA, one is near Oxnard, CA, five are near Plant City, FL, and one is near Wimauma, FL.
Open the LAND Page at The Online Investor »

Company Name:  Gladstone Land Corp
Website:  www.gladstoneland.com
Sector:  REITs
Number of ETFs Holding LAND:  4
Total Market Value Held by ETFs:  $1.66M
Total Market Capitalization:  $82.00M
% of Market Cap. Held by ETFs:  2.03%
 

Open the LAND Page at The Online Investor (in a new window) »

September 24, 2014    12:23 AM Eastern
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Strong Buy (3.50 out of 4)
71st percentile
(ranked higher than approx. 71% of all stocks covered)
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