1.44%
2.22%
-1.72%
-0.00%
10.04%
1.83%
-18.67%
AI Spotlight on LANDP
Company Description
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 169 farms, comprised of approximately 116,000 acres in 15 different states and over 45,000 acre-feet of banked water in California, valued at a total of approximately $1.6 billion.Gladstone Land's farms are predominantly located in regions where its tenants are able to grow fresh produce annual row crops, such as berries and vegetables, which are generally planted and harvested annually.
The Company also owns farms growing permanent crops, such as almonds, apples, cherries, figs, lemons, olives, pistachios, and other orchards, as well as blueberry groves and vineyards, which are generally planted every 20-plus years and harvested annually.Approximately 40% of the Company's fresh produce acreage is either organic or in transition to become organic, and over 10% of its permanent crop acreage falls into this category.The Company may also acquire property related to farming, such as cooling facilities, processing buildings, packaging facilities, and distribution centers.
Gladstone Land pays monthly distributions to its stockholders and has paid 129 consecutive monthly cash distributions on its common stock since its initial public offering in January 2013.The Company has increased its common distributions 32 times over the prior 35 quarters, and the current per-share distribution on its common stock is $0.0464 per month, or $0.5568 per year.
Market Data
| Last Price | 21.16 |
| Change Percentage | 1.44% |
| Open | 21 |
| Previous Close | 20.86 |
| Market Cap ( Millions) | 762 |
| Volume | 1263 |
| Year High | 22.63 |
| Year Low | 19.05 |
| M A 50 | 21.2 |
| M A 200 | 20.92 |
Financial Ratios
| FCF Yield | 7.34% |
| Dividend Yield | 5.20% |
| ROE | 2.05% |
| Debt / Equity | 76.78% |
| Net Debt / EBIDTA | 829.26% |
| Price To Book | 0.56 |
| Price Earnings Ratio | 26.49 |
| Price To FCF | 13.62 |
| Price To sales | 4.4 |
| EV / EBITDA | 14.54 |
News
- Dec -28 - 8 Stocks I'm Buying As I Hone My Buying Strategy For 2025
- Dec -18 - Gladstone Land: A Record 5% Dividend Yield From U.S. Farmland
- Nov -23 - 7 Stocks I'm Buying In Defiance Of Post-Election Euphoria
- Oct -29 - 2 Preferred Stocks At Bargain Prices, +7% Yield
- Oct -17 - These REITs Trade At Premiums, But Should They?
- Oct -08 - Gladstone Land Announces Monthly Cash Distributions for October, November and December 2024 and Earnings Release and Conference Call Dates for the Third Quarter Ended September 30, 2024
- Sep -24 - The Impressive Durability Of REIT Investments
- Sep -11 - Gladstone Land Shares Have A Big Hurdle Rate, With Preferreds Yielding 7.1%
- Jun -22 - 9 Stocks I'm Buying As Consumer Spending Stalls
- Jun -05 - Gladstone Land Series C Preferreds: Share Repurchase Program Provides A Floor To Valuation
- Feb -14 - Gladstone Land Series C Preferred: Sustaining Pari Passu Arbitrage With A 25% Upside To Call
- Feb -04 - These 8 Income Investments Pay Me Every Month
- Jan -09 - Gladstone Land Announces Increase in Monthly Cash Distributions for January, February and March 2024 and Earnings Release and Conference Call Dates for the Fourth Quarter Ended December 31, 2023
- Sep -12 - Gladstone Land Series C Preferreds: 7.8% Yield From Farmlands
- Jun -15 - LAND: Farmland With An Accidental High Yield
- Sep -22 - Olive Garden parent Darden stands by outlook after mixed quarterly results
- Jan -30 - New Preferred Stock IPOs, January 2021
- Jan -17 - LANDP: Don't Bother With The Gladstone Land Series A Preferreds
- Jan -12 - Gladstone Land Corporation Announces Conditional Optional Redemption of all Outstanding Shares of Its Series A Preferred Stock
- Dec -15 - November Buys: 3 Monthly Paying CEFs, Plus Some Dividend Growth Opportunities
Business Breakdown
Expected Mid-Term Growth
Segment n°1 -> Fixed Lease Payments
Expected Growth : 10.2 %
What the company do ?
Fixed Lease Payments from Gladstone Land Corporation refer to the regular, predetermined rental payments made by farmers to the corporation for the use of its farmland.
Why we expect these perspectives ?
Increasing demand for sustainable farming practices, growing need for food security, and rising popularity of organic produce drive growth in fixed lease payments from Gladstone Land Corporation.
Segment n°2 -> Variable Lease Payments - Participation Rents
Expected Growth : 5.2 %
What the company do ?
Variable Lease Payments - Participation Rents from Gladstone Land Corporation refers to the rent payments made by farmers to Gladstone Land, which vary based on the farm's crop yields and prices.
Why we expect these perspectives ?
Growth driven by increasing demand for sustainable farming practices, rising crop prices, and expansion of farmland under Gladstone Land's management, leading to higher variable lease payments.
Segment n°3 -> Variable Lease Payments - Tenant Reimbursements
Expected Growth : 4.5 %
What the company do ?
Variable Lease Payments - Tenant Reimbursements from Gladstone Land Corporation refers to the reimbursements made by tenants to the landlord for operating expenses, taxes, and insurance, which can vary in amount from period to period.
Why we expect these perspectives ?
Growth driven by increasing demand for farmland, rising crop prices, and expanding tenant base, leading to higher reimbursements for operating expenses, taxes, and insurance.
Gladstone Land Corporation Products
| Product Range | What is it ? |
|---|---|
| Farms | Gladstone Land Corporation owns and operates farms that grow a variety of crops, including fruits, nuts, and vegetables. |
| Ranches | The company owns and operates ranches that raise livestock, such as cattle and poultry, for meat production. |
| Orchards | Gladstone Land Corporation owns and operates orchards that grow a variety of fruits and nuts, including apples, berries, and almonds. |
| Vineyards | The company owns and operates vineyards that grow grapes for wine production. |
| Farm-related Services | Gladstone Land Corporation provides farm-related services, including farm management, crop consulting, and equipment leasing. |
Gladstone Land Corporation's Porter Forces
Threat Of Substitutes
The threat of substitutes for Gladstone Land Corporation is moderate due to the availability of alternative investment options in the agricultural sector.
Bargaining Power Of Customers
The bargaining power of customers is low for Gladstone Land Corporation as the company's diversified portfolio and long-term lease agreements reduce the dependence on individual customers.
Bargaining Power Of Suppliers
The bargaining power of suppliers is moderate for Gladstone Land Corporation as the company relies on a few large suppliers for its farming operations, but has some flexibility to negotiate prices.
Threat Of New Entrants
The threat of new entrants is low for Gladstone Land Corporation due to the high barriers to entry in the agricultural sector, including significant capital requirements and regulatory hurdles.
Intensity Of Rivalry
The intensity of rivalry is high for Gladstone Land Corporation due to the competitive nature of the agricultural sector, with many established players vying for market share.
Capital Structure
| Value | |
|---|---|
| Debt Weight | 44.38% |
| Debt Cost | 3.95% |
| Equity Weight | 55.62% |
| Equity Cost | 8.95% |
| WACC | 6.73% |
| Leverage | 79.78% |
Gladstone Land Corporation : Quality Control
Gladstone Land Corporation passed 2 out of 9 key points:
Historical Valuation
Price/Earnings Ratio
Margin Valuation
Peers Valuation
Competitors
| Company | Rational |
|---|---|
| CXW | CoreCivic, Inc. owns and operates partnership correctional, detention, and residential reentry facilities in the United States. It operates through three segments: CoreCivic Safety, CoreCivic Community, and CoreCivic Properties. The company … |
| FPI | Farmland Partners Inc. is an internally managed real estate company that owns and seeks to acquire high-quality North American farmland and makes loans to farmers secured by farm real estate. … |
| AFCG | AFC Gamma, Inc. originates, structures, underwrites, and invests in senior secured loans, and other types of loans and debt securities for established companies operating in the cannabis industry in states … |
| UNIT | Uniti, an internally managed real estate investment trust, is engaged in the acquisition and construction of mission critical communications infrastructure, and is a leading provider of wireless infrastructure solutions for … |
| REFI | Chicago Atlantic Real Estate Finance, Inc. operates as a commercial real estate finance company in the United States. It originates, structures, and invests in first mortgage loans and alternative structured … |
Peers Metrics
DCF BETA
Expected Cash-Flows
Scoring Insights
Peers Group Analysis
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Chicago Atlantic
A-Score
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AFC Gamma
A-Score
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Gladstone Land
A-Score
1-Year Total Return ->
4
Farmland Partners
A-Score
1-Year Total Return ->
5
Uniti
A-Score
1-Year Total Return ->
6
