MCLEAN, Va. (AP) — MCLEAN, Va. (AP) — Gladstone Land Corp. (LAND) on Thursday 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 $3.7 million, or 10 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 $6.7 million, or 19 cents per share.
The real estate investment trust specializing in farmland, based in McLean, Virginia, posted revenue of $21.3 million in the period.
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