Gladstone Land reports ‘limited damage’ to southeast farms from hurricanes

Gladstone Land (LAND) Corporation announced limited damage to its farms and facilities in the Southeastern U.S. as a result of Hurricanes Helene and Milton. While the Company is still assessing the overall impact of the hurricanes, early reports indicate wind damage to a portion of blueberry plantings on a small farm in southern Georgia and water damage to one cooling facility in central Florida, which is covered by insurance. Strawberry farms in central Florida were impacted in varying degrees; however, most operations have already recovered with regard to planting, though timing may be slightly delayed. The Company further notes that its two citrus groves in southeast Florida made it through the storms without any notable damage to the trees. “We have spoken to our tenant-partners across the region, who reported that, thus far, property damage on our farms has been relatively minimal. Given the strength of these historic storms and the widespread damage caused across multiple states, we are grateful to have come out relatively unscathed,” said Brett Smith, Director of Gladstone Land.