Gladstone Land Anticipates Minimal Impact from Trade Tariffs
06 4월 2018 - 5:05AM
Gladstone Land Corporation (NASDAQ:LAND) ("Gladstone Land" or the
"Company") expects minimal to no impact on its farms and tenants
from the developing trade conflict with China.
"As many of our investors know, Gladstone Land has primarily
purchased farms focused on high-value, perishable crops that are
produced and consumed domestically. Insulating our tenant
farmers, and therefore our shareholders, from global supply,
currency, and tariff risks continues to be at the core of our
long-term strategy,” said David Gladstone, President and CEO of
Gladstone Land.
"China already had tariffs in place on many farm products that
are sold by U.S. farmers to buyers in China, and this new round of
tariffs is an increase to those existing tariffs. Gladstone
Land’s most significant exposure to the newly-increased tariffs is
with our nut and grain farms. Fortunately, global demand for
almonds and pistachios continues to increase, and supplies remain
tight. California continues to be the number one growing
region in the world for nuts, and those nuts are exported
throughout the globe. Therefore, we expect only a very
limited impact to our nut farmers. As for any exposure to the
announced soybean tariff, our grain farms continue to be a very
small percentage of our total farmland holdings, and our tenants on
those farms continuously rotate between commodity crops (e.g.,
corn, cotton, soybeans, and wheat) to adjust to changes in the
market.”
“We look forward to continuing to build and diversify the types
of farms that we own and will be sensitive to the tariffs each
farmer has to navigate through. Our current list of farms we
are trying to buy remains healthy. We are expecting the trade
barriers implemented by China on certain crops being grown by
American farmers to be reduced dramatically in the future as the
U.S. puts up its own tariffs to punish countries that have
implemented tariffs against our producers."
About Gladstone Land Corporation: Gladstone
Land is a publicly-traded real estate investment trust that invests
in farmland and farm-related properties located in major
agricultural markets in the U.S., which it leases to farmers, and
pays monthly distributions to its stockholders. The Company
reports the current fair value of its farmland on a quarterly
basis; as of December 31, 2017, the estimated net asset value
of the Company was $13.96 per share. Gladstone Land currently
owns 75 farms, comprised of 63,351 acres in 9 different states
across the U.S., valued at approximately $538 million. Its
acreage is predominantly concentrated in locations where its
tenants are able to grow fresh produce annual row crops, such as
berries and vegetables, which are generally planted and harvested
annually, as well as permanent crops, such as almonds, blueberries,
and pistachios, which are planted every 10 to 20-plus years.
The Company may also acquire property related to farming, such as
cooling facilities, processing buildings, packaging facilities, and
distribution centers. Gladstone Land has paid 62 consecutive
monthly cash distributions on its common stock since its initial
public offering in January 2013. The current per-share
distribution is $0.04425 per month, or $0.531 per year.
Additional information can be found at www.GladstoneLand.com and
www.GladstoneFarms.com.
Owners or brokers who have farmland for sale in the U.S. should
contact:
- Eastern U.S. — Bill Frisbie at (703) 287-5839 or
bill.f@gladstoneland.com
- Western U.S. — Bill Reiman at (805) 263-4778 or
bill.r@gladstoneland.com
- Midwest U.S. — Bill Hughes at (618) 606-2887 or
bill.h@gladstoneland.com
For stockholder information on Gladstone Land, call (703)
287-5893. For Investor Relations inquiries related to any of
the monthly dividend-paying Gladstone funds, please visit
www.Gladstone.com.
All statements contained in this press release, other than
historical facts, may constitute "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Words such as "anticipates," "expects," "intends,"
"plans," "believes," "seeks," "estimates" and variations of the
foregoing words and similar expressions are intended to identify
forward-looking statements. Readers should not rely upon
forward-looking statements because the matters they describe are
subject to known and unknown risks and uncertainties that could
cause the Company's business, financial condition, liquidity,
results of operations, funds from operations or prospects to differ
materially from those expressed in or implied by such statements.
Such risks and uncertainties are disclosed under the caption
"Risk Factors" of the Company's Annual Report on Form 10-K for the
fiscal year ended December 31, 2017 (the "Form 10-K"), as filed
with the SEC on February 20, 2018, and certain other documents
filed with the SEC from time to time. The Company cautions
readers not to place undue reliance on any such forward-looking
statements, which speak only as of the date made. The Company
undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events, or otherwise, except as required by law.
For a definition of net asset value and a reconciliation to the
most directly-comparable GAAP measure, please see the Company's
Form 10-K.
SOURCE: Gladstone Land Corporation
For further information: Gladstone Land, 703-287-5893
Gladstone Land (NASDAQ:LAND)
과거 데이터 주식 차트
부터 6월(6) 2024 으로 7월(7) 2024
Gladstone Land (NASDAQ:LAND)
과거 데이터 주식 차트
부터 7월(7) 2023 으로 7월(7) 2024