Gladstone Land Corporation Expands Board and Appoints George “Chip” Stelljes, III as Director
Key Developments and Potential Implications for Shareholders
MCLEAN, VA, June 2, 2026 – Gladstone Land Corporation (Nasdaq: LAND), a publicly traded real estate investment trust (REIT) specializing in farmland ownership, has announced a significant expansion of its board of directors as well as a key new appointment. Effective June 1, 2026, George “Chip” Stelljes, III has been elected to the company’s 2028 class of directors. This move increases the size of the board from seven to eight members, reflecting the company’s commitment to strengthening its leadership as it continues to grow.
Key Points from the Announcement:
- Board Expansion: The board of directors has been expanded from seven to eight members, which may indicate the company’s intention to reinforce governance and prepare for future strategic initiatives.
- Appointment of George “Chip” Stelljes, III: Mr. Stelljes brings over 25 years of experience in investment analysis, management, and advisory roles, particularly in private equity and venture capital. His background includes notable leadership positions at various financial institutions and prior executive roles within Gladstone Companies.
- Committee Assignments: Mr. Stelljes will serve on the Compensation Committee, Nominating & Corporate Governance Committee, and Valuation Committee, placing him at the center of critical oversight functions.
- Leadership Endorsement: David Gladstone, CEO and Chairman, highlighted Stelljes’ prior experience with Gladstone companies and his deep expertise in private equity fund investment, emphasizing the potential value he brings to the company’s growth strategy.
Details on George “Chip” Stelljes, III:
- Stelljes is currently the managing partner of St. John’s Capital, LLC, focusing on private equity investments.
- From 2001 to 2013, he held several senior roles at Gladstone Companies, including Chief Investment Officer, President, and Director of multiple Gladstone entities (Gladstone Capital Corporation, Gladstone Investment Corporation, Gladstone Commercial Corporation, and Gladstone Management Corporation).
- He previously held roles at Patriot Capital, Camden Partners, Columbia Capital, and Allied Capital, reflecting broad experience across private equity and venture capital.
- Stelljes is currently chairman of Equalize Community Development Fund and an independent director of Oxford Square Capital Corporation, both investment management companies.
- He is a former board member and regional president of the National Association of Small Business Investment Companies.
- Academic credentials include an MBA from the University of Virginia and a BA in Economics from Vanderbilt University.
About Gladstone Land Corporation
- Founded in 1997, Gladstone Land is a REIT focused on owning and leasing farmland and farm-related properties in major U.S. agricultural markets.
- As of this announcement, the company owns 144 farms comprising approximately 99,000 acres across 14 states.
- It holds nearly 56,000 acre-feet (over 18.1 billion gallons) of water assets in California, a critical resource for agricultural operations.
- The company’s portfolio includes both annual row crops (such as berries and vegetables) and permanent crops (almonds, blueberries, figs, olives, pistachios, and wine grapes).
- Gladstone Land pays monthly distributions, with 159 consecutive monthly cash distributions since its IPO in January 2013. The current monthly per-share distribution is \$0.0467, totaling approximately \$0.5604 per year.
Additional Information for Shareholders and Investors
- The addition of an experienced private equity professional to the board could signal the company’s intention to pursue more aggressive growth strategies, potentially through acquisitions or capital market activities.
- Board expansion and committee assignments may also enhance governance and oversight, which could positively influence investor confidence.
- The company continues to invite farmland owners, brokers, and lenders to engage with its acquisition and financing teams, signaling ongoing expansion efforts.
- Investors can access detailed information on each farm and the company’s activities at www.GladstoneLand.com and www.GladstoneCompanies.com.
Potential Share Price Impact
The election of a well-credentialed director with deep ties to both Gladstone and the broader private equity world could be seen as a positive development by the market. It may be interpreted as a sign of robust growth prospects and a strengthening of the company’s leadership bench. Shareholders should monitor for any subsequent strategic announcements, acquisitions, or capital raises that may follow this governance change.
Contact Information
- Stockholder Information: (703) 287-5893
- Investor Relations: Visit GladstoneCompanies.com
- Farmland Sales and Acquisitions Contacts: Western U.S. – Bill Reiman (805) 263-4778, Midwestern/Mid-Atlantic U.S. – Joey Van Wingerden (703) 287-5914, Southeastern U.S. – Brett Smith (904) 687-5284
- Financing Inquiries: Jay Beckhorn (703) 587-5823
Disclaimer: This article is for informational purposes only and does not constitute investment advice or a solicitation to buy or sell any securities. Investors should conduct their own due diligence and consult with a qualified financial advisor before making investment decisions.
