Gladstone Land Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share of Common Stock

Earnings Per Share of Common Stock

9 Months Ended

Sep. 30, 2020

The following table sets forth the computation of basic and diluted net loss per common share for the three and nine months ended September 30, 2020 and 2019, computed using the weighted average number of shares outstanding during the respective periods. Net loss figures are presented net of non-controlling interests in the earnings per share calculations. The non-controlling limited partners’ outstanding OP Units (which may be redeemed for shares of common stock) have been excluded from the diluted per-share calculation, as there would be no effect on the amounts since the non-controlling OP Unitholders’ share of earnings would also be added back to net loss.


	Three months ended September 30,				Nine months ended September 30,
	2020		2019		2020		2019
	(Dollars in thousands, except per-share amounts)				(Dollars in thousands, except per-share amounts)
Net loss attributable to common stockholders	$	(837)	$	(644)	$	(1,981)	$	(1,860)
Weighted average shares of common stock outstanding – basic and diluted	21,991,291		20,763,615		21,558,859		19,154,744
Loss per common share – basic and diluted	$	(0.04)	$	(0.03)	$	(0.09)	$	(0.10)

The weighted-average number of OP Units held by non-controlling OP Unitholders was 16,452 and 175,981 for the three and nine months ended September 30, 2020, respectively, and 222,494 and 217,857 for the three and nine months ended September 30, 2019, respectively.