ADDED
We are dependent upon our key management personnel, who are employed by our Adviser and Administrator (each as defined in Part 1, Item 1, Business Overview ), for our future success, particularly David Gladstone, Bill Reiman, Lewis Parrish, and Jay Beckhorn.
The death, disability, or unplanned departure of any of our executive officers or key personnel from the Adviser or Administrator, as applicable, could have a material adverse effect on our ability to implement our business strategy and to achieve our investment objectives.
Our Adviser is not obligated to provide a waiver of the incentive fee, which could negatively impact our earnings and our ability to maintain our current level of, or increase, distributions to our stockholders.
BUSINESS Overview We are an externally-managed, agricultural real estate investment trust ( REIT ) that is primarily in the business of owning and leasing farmland, including through lease structures with a variable rent component based on the gross revenues generated from certain farms in lieu of fixed base rent.
We are not generally a grower of crops, nor do we typically farm the properties we own, though from time to time, and on a temporary basis, we may also directly operate certain of our farms via management agreements with third-party operators and/or through a taxable REIT subsidiary ( TRS ).
We currently own 144 farms totaling 98,688 acres across 14 states in the U.S.
In addition, as of December 31, 2025, two of our properties (comprising four farms) were directly operated by us.
We control the sole general partner of the Operating Partnership and currently own all of the common units of limited partnership interest in the Operating Partnership ( OP Units ).
Our shares of 6.00% Series B Cumulative Redeemable Preferred Stock, par value $0.001 per share (the Series B Preferred Stock ) are traded on Nasdaq under the symbol LANDO, and our shares of 6.00% Series C Cumulative Redeemable Preferred Stock, par value $0.001 per share (the Series C Preferred Stock ) are traded on Nasdaq under the symbol LANDP.
If we choose to operate any farms we own, we anticipate doing so via management agreements with third-party operators and/or through our TRS.
REMOVED
3 Table of Content Cybersecurity risks and cyber incidents may adversely affect our business by causing a disruption to our operations or the operations of businesses in which we invest, a compromise or corruption of our confidential information, and/or damage to our business relationships, all of which could negatively impact our financial condition, and operating results.
We are dependent upon our key management personnel for our future success, particularly David Gladstone, Bill Reiman, Lewis Parrish, and Jay Beckhorn.
Our Adviser (as defined in Part 1, Item 1, Business Overview ) is not obligated to provide a waiver of the incentive fee, which could negatively impact our earnings and our ability to maintain our current level of, or increase, distributions to our stockholders.
BUSINESS Overview We are an externally-managed, agricultural real estate investment trust ( REIT ) that is engaged in the business of owning and leasing farmland.
We are not generally a grower of crops, nor do we typically farm the properties we own, though we may, on a temporary basis, do so in the future on select properties in certain situations.
If we choose to operate any farms we own, we anticipate doing so via a management agreement with a third-party operator and/or through a taxable REIT subsidiary ( TRS ).
We currently own 150 farms comprised of 103,001 acres across 15 states in the U.S.
We control the sole general partner of the Operating Partnership and currently own, directly or indirectly, 100.0% of the common units of limited partnership interest in the Operating Partnership ( OP Units ).
Our shares of 6.00% Series B Cumulative Redeemable Preferred Stock, par value $0.001 per share (the Series B Preferred Stock ) are traded on Nasdaq under the symbol LANDO, our shares of 6.00% Series C Cumulative Redeemable Preferred Stock, par value $0.001 per share (the Series C Preferred Stock ) are traded on Nasdaq under the symbol LANDP, and our shares of 5.00% Series D Cumulative Term Preferred Stock (the Series D Term Preferred Stock ) are traded on Nasdaq under the symbol LANDM.
However, from time to time, we may explore alternative 5 Table of Content options with certain of our farms, including entering into agreements where we finance a portion of the planting, growing, and harvesting costs on certain farms in exchange for receiving a larger share of the resulting crop sales.