Ag land REIT Gladstone Land (LAND) has announced earnings. The company has certainly been acquiring plenty of new farms in the last year. The company appears to be essentially covering their common stock dividend–but that is all I would expect.
LAND has a 6.375% term preferred outstanding of which I hold in a couple accounts. It trades up near $26 and is now callable. Obviously since it is trading at a fairly large premium I don’t think it will be called–but may have to rethink it having a full position–don’t want to be called a snoozer.
Business development company Gladstone Investment (GAIN) announced earnings. The company has covered their common share dividend and held net asset value fairly steady
GAIN has 2 outstanding term preferreds and we own the GAINL 6.375% term preferred.