Gladstone Land Corp

In a Stage 4 decline, LAND remains under firm bearish control with a clear sequence of lower highs and lower lows under declining EMAs and DMAs. The recent oversold bounce has failed to reclaim the 9/21 EMA resistance, reinforcing medium-term bearish asymmetry. Execution now focuses on selling into pullbacks toward the 9/21 EMA zone. The long-term downtrend remains intact, and current price behavior offers a high-probability entry for bearish positions.

• ↑Shifted 7 leases to participation rents, reducing fixed base rent and capturing crop price upside
• ↑Management expects firm pistachio prices to drive ~$17 M in 2025 crop-year revenues
• ↓Q1 FFO of –$3.4 M and net loss of –$7.9 M driven by lease shifts and tenant issues