Gladstone Land Reports No Damage to Farms from California Wildfires
Gladstone Land (Nasdaq:LAND) reported that its California farms remain unaffected by recent wildfires in the southern part of the state. The company confirmed that all its permanent crop farms in California are protected by insurance policies covering both crops and potential income loss, whether through the company itself or its tenant-farmers.
Executive VP Bill Reiman emphasized that while their farms typically face low wildfire risk, they maintain constant vigilance to protect their assets. CEO David Gladstone explained that their farms' locations in farming plains, typically separated from hills by large bodies of water and having minimal brush, contribute to their lower risk profile compared to the hill and mountain areas where wildfires usually occur.
Gladstone Land (Nasdaq:LAND) ha riportato che le sue fattorie in California rimangono indenni dai recenti incendi boschivi nella parte meridionale dello stato. L'azienda ha confermato che tutte le sue fattorie di coltivazione permanente in California sono protette da polizze assicurative che coprono sia i raccolti che la potenziale perdita di reddito, sia attraverso l'azienda stessa che attraverso i suoi agricoltori affittuari.
Il VP Esecutivo Bill Reiman ha sottolineato che, sebbene le loro fattorie affrontino tipicamente un basso rischio di incendi boschivi, mantengono una costante vigilanza per proteggere i loro beni. Il CEO David Gladstone ha spiegato che le località delle loro fattorie nelle pianure agricole, solitamente separate dalle colline da grandi corpi d'acqua e con una vegetazione minima, contribuiscono al loro profilo di rischio inferiore rispetto alle aree collinari e montuose dove di solito si verificano incendi.
Gladstone Land (Nasdaq:LAND) informó que sus granjas en California no se han visto afectadas por los recientes incendios forestales en la parte sur del estado. La compañía confirmó que todas sus granjas de cultivos permanentes en California están protegidas por pólizas de seguro que cubren tanto los cultivos como posibles pérdidas de ingresos, ya sea a través de la propia empresa o de sus agricultores inquilinos.
El VP Ejecutivo Bill Reiman enfatizó que, aunque sus granjas típicamente enfrentan bajo riesgo de incendios forestales, mantienen una vigilancia constante para proteger sus activos. El CEO David Gladstone explicó que las ubicaciones de sus granjas en llanuras agrícolas, generalmente separadas de las colinas por grandes cuerpos de agua y con una vegetación mínima, contribuyen a su perfil de riesgo más bajo en comparación con las áreas de colinas y montañas donde suelen ocurrir incendios.
Gladstone Land (Nasdaq:LAND)는 캘리포니아 농장들이 주 남부의 최근 산불로 인해 영향을 받지 않았다고 보고했습니다. 회사는 캘리포니아의 모든 영구 작물 농장이 작물 및 잠재적 소득 손실을 보장하는 보험 정책에 의해 보호되고 있으며, 이는 회사 자체 또는 임대 농부를 통해 이루어진다고 확인했습니다.
부사장 빌 레이먼(Bill Reiman)은 그들의 농장이 일반적으로 낮은 산불 위험에 직면하더라도 자산을 보호하기 위해 지속적인 경계를 유지한다고 강조했습니다. CEO 데이비드 글래드스톤(David Gladstone)은 그들의 농장이 농업 평야에 위치해 있으며, 일반적으로는 큰 수역에 의해 산과 분리되어 있고, 나뭇잎이 적어 산불이 발생하는 언덕과 산 지역에 비해 낮은 위험 프로파일에 기여한다고 설명했습니다.
Gladstone Land (Nasdaq:LAND) a rapporté que ses exploitations californiennes n'ont pas été affectées par les récents incendies de forêt dans le sud de l'État. L'entreprise a confirmé que toutes ses exploitations agricoles de cultures permanentes en Californie sont couvertes par des polices d'assurance protégeant à la fois les récoltes et les pertes de revenus potentielles, que ce soit par l'intermédiaire de l'entreprise elle-même ou de ses agriculteurs locataires.
Le VP Exécutif Bill Reiman a souligné que, bien que leurs exploitations soient généralement confrontées à un faible risque d'incendie de forêt, elles maintiennent une vigilance constante pour protéger leurs actifs. Le PDG David Gladstone a expliqué que la localisation de leurs exploitations dans des plaines agricoles, généralement séparées des collines par de grandes étendues d'eau et ayant une végétation minimale, contribue à leur profil de risque inférieur par rapport aux zones montagneuses et vallonnées où les incendies se produisent généralement.
Gladstone Land (Nasdaq:LAND) berichtete, dass seine Farmen in Kalifornien von den jüngsten Waldbränden im südlichen Teil des Bundesstaates unberührt geblieben sind. Das Unternehmen bestätigte, dass alle seine Permanenterwerbsfarmen in Kalifornien durch Versicherungen geschützt sind, die sowohl die Ernte als auch potenzielle Einkommensverluste abdecken, sei es durch das Unternehmen selbst oder durch seine Pachtbauern.
Der Executive VP Bill Reiman betonte, dass ihre Farmen zwar typischerweise einem geringen Waldbrandrisiko ausgesetzt sind, sie dennoch ständig wachsam bleiben, um ihre Vermögenswerte zu schützen. CEO David Gladstone erklärte, dass die Standorte ihrer Farmen in landwirtschaftlichen Ebenen, die typischerweise durch große Wasserflächen von den Hügeln getrennt sind und über eine minimale Vegetation verfügen, zu ihrem niedrigeren Risikoprofil im Vergleich zu den hügeligen und bergigen Gebieten, in denen Waldbrände normalerweise auftreten, beitragen.
- All permanent crop farms are insured against crop and income loss
- Farms strategically located in low-risk areas for wildfires
- No damage reported to any company farms from recent wildfires
- None.
Insights
This update from Gladstone Land carries more strategic significance than might be immediately apparent. The announcement effectively addresses two critical aspects of agricultural REIT risk assessment: physical asset protection and income security.
The company's revelation about its farms' locations in the plains, separated from hillside fire zones by water bodies, highlights a strategic geographical diversification approach that naturally mitigates wildfire risks. This positioning isn't merely coincidental - it represents a deliberate risk management strategy that differentiates LAND from other agricultural property holders who might have holdings in more vulnerable terrains.
The comprehensive insurance coverage structure, covering both crops and potential income losses, demonstrates sophisticated risk management. This dual-layer protection approach - combining geographical positioning with financial safeguards - provides investors with multiple layers of security. It's particularly noteworthy that this coverage extends to tenant-farmer policies, indicating a thorough approach to risk management that accounts for various operational scenarios.
From an investment perspective, this announcement reinforces Gladstone Land's position as a defensive agricultural REIT investment. The company's risk mitigation strategy becomes increasingly valuable considering the growing frequency of climate-related events in California. The geographical positioning of assets in lower-risk areas could potentially translate into:
- Lower insurance premiums compared to competitors with higher-risk locations
- More stable property valuations due to reduced environmental risks
- Better tenant retention due to lower operational risks
- Enhanced ability to maintain consistent dividend payments due to more predictable cash flows
While this announcement confirms zero immediate impact on operations, its greater value lies in demonstrating the effectiveness of LAND's long-term strategic planning in asset selection and risk management, factors that are important for sustainable agricultural REIT operations.
MCLEAN, VA / ACCESS Newswire / January 27, 2025 / Gladstone Land Corporation (Nasdaq:LAND) ("Gladstone Land" or the "Company") announced that none of its California farms have been impacted by the recent wildfires that have occurred in the southern part of the state. The Company further notes that all of its farms in the state growing permanent crops are insured by the Company or its tenant-farmers under policies that would cover both the crops and any potential loss of crop income.
"Our hearts and prayers go out to all of those who were negatively affected by the recent wildfires in California," said Bill Reiman, Executive Vice President of Gladstone Land. "Our farms typically have low risk of being damaged from wildfires; however, we are always on alert and ready to react should action be required to protect our assets. We also stand ready to help our neighbors and communities should we be in a position to do so."
"Wildfires in California generally occur in the hills and mountains where the brush is," said David Gladstone, President and CEO of Gladstone Land. "Our farms are mostly located in the farming plains that are far below the hills, usually separated by large bodies of water, and there is very little brush to burn there."
About Gladstone Land Corporation:
Founded in 1997, Gladstone Land is a publicly traded real estate investment trust that acquires and owns farmland and farm-related properties located in major agricultural markets in the U.S. and leases its properties to unrelated third-party farmers. The Company, which reports the aggregate fair value of its farmland holdings on a quarterly basis, currently owns 157 farms, comprised of approximately 111,000 acres in 15 different states and over 55,000 acre-feet of water assets in California, valued at a total of approximately
Owners or brokers who have farmland for sale in the U.S. should contact:
Western U.S. - Bill Reiman at (805) 263-4778 or Bill.R@GladstoneLand.com;
Mid-Atlantic and Midwest U.S. - Joey Van Wingerden at (703) 287-5914 or Joe.V@GladstoneLand.com; or
Southeastern U.S.- Brett Smith at (703) 287-5837 or Brett.S@GladstoneLand.com.
Lenders who are interested in providing Gladstone Land with long-term financing on farmland should contact Jay Beckhorn at (703) 587-5823 or Jay.Beckhorn@GladstoneCompanies.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.GladstoneCompanies.com.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS:
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 Gladstone Land'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, 2023 (the "Form 10-K"), as filed with the SEC on February 20, 2024, and certain other documents filed with the SEC from time to time. Gladstone Land 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.
For further information: Gladstone Land, (703) 287-5893
SOURCE: Gladstone Land Corporation
View the original press release on ACCESS Newswire
FAQ
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