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Gladstone Land CorporationNasdaqGM:LAND Rapporto sulle azioni

Cap. di mercato US$407.2m
Prezzo delle azioni
US$9.53
US$12.1
21.2% sottovalutato sconto intrinseco
1Y0.3%
7D1.0%
1D
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Gladstone Land Corporation

Report azionario NasdaqGM:LAND

Capitalizzazione di mercato: US$407.2m

Gladstone Land (LAND) Panoramica del titolo

Gladstone Land Corporation è un fondo comune di investimento immobiliare quotato in borsa che acquisisce e possiede terreni agricoli e proprietà correlate all'agricoltura situate nei principali mercati agricoli degli Stati Uniti. Maggiori dettagli

LAND analisi fondamentale
Punteggio fiocco di neve
Valutazione2/6
Crescita futura0/6
Prestazioni passate0/6
Salute finanziaria3/6
Dividendi4/6

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Concorrenti di Gladstone Land Corporation

Storia dei prezzi e prestazioni

Riepilogo dei massimi, dei minimi e delle variazioni dei prezzi delle azioni per Gladstone Land
Prezzi storici delle azioni
Prezzo attuale dell'azioneUS$9.53
Massimo di 52 settimaneUS$13.00
Minimo di 52 settimaneUS$8.47
Beta1.06
Variazione di 1 mese-4.80%
Variazione a 3 mesi-12.65%
Variazione di 1 anno0.32%
Variazione a 3 anni-37.14%
Variazione a 5 anni-59.17%
Variazione dall'IPO-36.47%

Notizie e aggiornamenti recenti

Seeking Alpha May 18

Gladstone Land Q1: Lease Restructuring Is Reaching Earnings (Rating Upgrade)

Summary Gladstone Land is navigating severe agricultural headwinds by restructuring leases and recapitalizing its balance sheet. LAND’s shift from fixed-base rents to participation-based leases increases earnings volatility but supports tenant viability amid industry stress. A $500 million share issuance and ongoing asset sales are focused on deleveraging and capital preservation, with acquisitions paused. Despite ongoing risks, LAND is upgraded to buy due to improved valuation and proactive management, making it a superior farmland REIT option. Read the full article on Seeking Alpha
Aggiornamento della narrazione May 11

LAND: Steady Crop Pricing And Cautious Acquisitions Will Support Future Cash Flows

Narrative Update: Gladstone Land Analysts now cluster around a roughly $11.75 average price target for Gladstone Land. This reflects a mix of upward and downward revisions after recent earnings and updated views on steady produce demand, acquisition caution given higher capital costs, and operational risks tied to input costs, water rules, and crop price uncertainty.
Aggiornamento della narrazione Apr 23

LAND: Steady Crop Pricing And Cautious Acquisitions Will Support Future Upside

Analysts have adjusted their price targets on Gladstone Land to a range of $11.50 to $12, citing updated models after Q4 earnings, steady demand and pricing for berry and vegetable farms, and ongoing caution around acquisitions due to high capital costs and lower cap rates. Analyst Commentary Bullish Takeaways Bullish analysts see the updated Q4 models as supportive of price targets in the $11.50 to $12 band, suggesting that current fundamentals justify valuations around this level.

Recent updates

Seeking Alpha May 18

Gladstone Land Q1: Lease Restructuring Is Reaching Earnings (Rating Upgrade)

Summary Gladstone Land is navigating severe agricultural headwinds by restructuring leases and recapitalizing its balance sheet. LAND’s shift from fixed-base rents to participation-based leases increases earnings volatility but supports tenant viability amid industry stress. A $500 million share issuance and ongoing asset sales are focused on deleveraging and capital preservation, with acquisitions paused. Despite ongoing risks, LAND is upgraded to buy due to improved valuation and proactive management, making it a superior farmland REIT option. Read the full article on Seeking Alpha
Aggiornamento della narrazione May 11

LAND: Steady Crop Pricing And Cautious Acquisitions Will Support Future Cash Flows

Narrative Update: Gladstone Land Analysts now cluster around a roughly $11.75 average price target for Gladstone Land. This reflects a mix of upward and downward revisions after recent earnings and updated views on steady produce demand, acquisition caution given higher capital costs, and operational risks tied to input costs, water rules, and crop price uncertainty.
Aggiornamento della narrazione Apr 23

LAND: Steady Crop Pricing And Cautious Acquisitions Will Support Future Upside

Analysts have adjusted their price targets on Gladstone Land to a range of $11.50 to $12, citing updated models after Q4 earnings, steady demand and pricing for berry and vegetable farms, and ongoing caution around acquisitions due to high capital costs and lower cap rates. Analyst Commentary Bullish Takeaways Bullish analysts see the updated Q4 models as supportive of price targets in the $11.50 to $12 band, suggesting that current fundamentals justify valuations around this level.
Aggiornamento della narrazione Apr 08

LAND: Lower Discount Rate And Steady Crop Prices Will Support Shares

Analysts now see fair value for Gladstone Land at $12.10, up from $10.50. This points to updated price targets in the $11.50 to $12 range after Q4 earnings, steady demand for berry and vegetable farms, and cautious management commentary around acquisitions given higher capital costs and lower cap rates.
Aggiornamento della narrazione Mar 25

LAND: Steady Farm Demand And Capital Moves Will Support Future Returns

Analysts now cluster around a tighter range of targets for Gladstone Land, with one firm raising its view to $12 and another trimming to $11.50 after Q4 earnings. This reflects steady demand for berry and vegetable farms, alongside caution about acquisition growth given higher funding costs, lower cap rates, and ongoing input and regulatory pressures.
Aggiornamento della narrazione Mar 10

LAND: Steady Farm Demand And Preferred Redemption Will Shape Future Returns

Analysts have trimmed their Gladstone Land fair value estimate from $14.15 to $13.00. This reflects updated views on slower revenue growth, slightly lower profit margins, and a higher future P/E multiple after recent price target changes clustered around the $11.50 to $12.00 range.
Aggiornamento della narrazione Feb 24

LAND: Higher Costs And Regulation Will Pressure Overvalued Shares Further

Analysts have reduced their price target on Gladstone Land to $11.50 from $14.50, citing the recent share rebound, evolving views on long term P/E assumptions, and ongoing concerns around input costs, water regulations, and crop price uncertainty. Analyst Commentary Bearish analysts are using the reduced US$11.50 price target as a signal that recent share strength may already reflect a lot of the good news.
Aggiornamento della narrazione Feb 09

LAND: Slower Acquisitions And Lease Risks Will Pressure Overvalued Shares

Narrative Update Analysts maintained the price target for Gladstone Land at $10, citing Q3 Core FFO that exceeded estimates, recent price strength in key crops tied to participation leases, and a more cautious stance on acquisitions, along with a lower modeled discount rate and slightly higher projected profit margins and revenue growth. One firm shifted its rating to neutral as the shares trade close to that target.
Aggiornamento della narrazione Jan 26

LAND: Nut Crop Leases And Slower Acquisitions Will Shape Balanced Forward Returns

Analysts are holding their average price target on Gladstone Land at $10. Recent research highlights the unchanged Oppenheimer target, along with Alliance Global Partners' move from $9 to $10 after Q3 results and updated FFO and lease mix assumptions.
Aggiornamento della narrazione Jan 11

LAND: Nut Crop Upside And Measured Acquisition Pace Will Shape Future Returns

Analysts now center their Gladstone Land narratives around a US$10 price target, with recent changes in discount rate and growth assumptions reflecting mixed Q3 takeaways. These include stronger than expected Core FFO per share, cautious acquisition activity given a high cost of capital, and updated return expectations that support a more Neutral or Perform stance.
Aggiornamento della narrazione Dec 14

LAND: Rising Nut Crop Pricing Will Support Future Upside Potential

Analysts have nudged their fair value estimate for Gladstone Land up to $10.00 from $9.00, as stronger than expected Q3 Core FFO, improving nut crop pricing, and disciplined capital deployment offset a more cautious stance reflected in recent rating downgrades and higher assumed discount rates. Analyst Commentary Bearish analysts acknowledge the stronger Q3 performance and recent price target increase but remain cautious on the sustainability of growth and the risk reward profile at current levels.
Aggiornamento della narrazione Aug 15

Global Farmland Demand And Water Investment Will Unlock Upside

Gladstone Land's valuation reflects a slightly higher future P/E ratio and a modest decline in net profit margin, suggesting tempered earnings expectations, while the consensus analyst price target remains unchanged at $10.67. What's in the News Gladstone Land Corporation authorized a share repurchase program for up to $20 million of its 6.00% Series B Cumulative Redeemable Preferred Stock and up to $35 million of its 6.00% Series C Cumulative Redeemable Preferred Stock, with the program expiring July 10, 2026 and allowing for open market or negotiated transactions at the company's discretion.
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Nuova narrazione Mar 29

Lease Adjustments And Farm Sales Will Secure Future Advantage

Strategic lease changes and asset reinvestment aim to boost future revenue, earnings, and asset quality, enhancing financial performance.
Seeking Alpha Mar 25

Baby Bonds, Preferreds, And Helping Investors Afford Retirement

Summary High Yield Investor's Samuel Smith and Scott Kaufman from High Dividend Opportunities discuss why preferred shares and baby bonds are compelling for investors. Key picks for preferreds and baby bonds. Are there risks involved with higher yield? Read the full article on Seeking Alpha
Seeking Alpha Feb 26

Gladstone Land: You Shouldn't Get 7.5% Yield On Preferreds, Yet Here We Are

Summary Gladstone Land's Q4-2024 performance was disappointing, with a 37% decline in FFO. We value the company primarily via NAV, as farmland is not the best cash flow generator. We like the preferred shares, but we are upgrading the common as well now. Read the full article on Seeking Alpha
Seeking Alpha Dec 18

Gladstone Land: A Record 5% Dividend Yield From U.S. Farmland

Summary Gladstone Land owns 168 farms and nearly 54,000 acre-feet of water assets, with a 99.5% occupancy rate, but shares have dipped 20% over the last year. The REIT's NAV per share stands at $15.57, trading at a 29% discount, with a 5.04% dividend yield, offering a reasonable margin of safety. Third quarter revenue and cash flows have declined, with NAV per share dropping from $20.33 a year ago due to lower farm valuations and higher long-term borrowing costs. Despite inflation concerns, high-quality farmland's inelastic demand and LAND's unique asset class support a hold rating, with potential near-term dividend yield compression. Read the full article on Seeking Alpha
Seeking Alpha Nov 24

Gladstone Land: I'm Sticking With The Preferred Shares

Summary Gladstone Land's shift to crop-sharing leases will reduce base rent income in the short term and may boost future profitability. Preferred shares offer better value and safety compared to common shares, with dividends well covered despite high payout ratios. The REIT's balance sheet is improving, but farmland value declines have impacted NAV, making preferred shares more attractive. I recommend avoiding common shares due to weak performance, but preferred shares, especially Series D, present a safer investment. Read the full article on Seeking Alpha
Seeking Alpha Jul 20

Gladstone Land Offers A 6.65-7% Yield (To Maturity) On Its Preferred Equity

Summary Gladstone Land is a REIT focusing on farmland leasing. Preferred dividends are well covered and the balance sheet is strong with high equity to assets ratio. Series D preferred shares offer a potential yield of 6.65% if called in January 2026. Read the full article on Seeking Alpha
Seeking Alpha Jun 14

Gladstone Land: Solid Fundamentals Masked By Macro Challenges

Summary Gladstone Land has a dividend yield of 4.3%, paid out to shareholders on a monthly basis. LAND stock owns and leases farmlands across the US. The REIT's solid portfolio mix and fundamentals have been impacted by macro challenges such as higher interest rates and rising costs for tenants. LAND operates on a triple net lease basis, which passes along most of the operating costs to the tenant and increases profit margins for the REIT. Read the full article on Seeking Alpha
Seeking Alpha Mar 30

Gladstone Land: Speculating On A 7.4% Yield To Mandatory Call On Preferreds

Summary Gladstone Land is a REIT that owns farmland and leases it to farmers, providing a straightforward business model. The REIT remains AFFO positive, generating $5.4M AFFO in Q4 and $20.3M for the full year. The preferred shares of Gladstone Land offer a yield of 7.4% if redeemed in January 2026, or 8.3% if not called. Read the full article on Seeking Alpha
Seeking Alpha Feb 06

Gladstone Land: Recent Real Estate Transaction Validates Portfolio Value

Summary Gladstone Land is a leading farmland-focused REIT. Owning farmland remains compelling due to low volatility, strong returns, and the potential for consolidation by institutional players. Farmland could serve as an effective hedge against climate change, as changes in climate are expected to increase crop prices and rental income for landowners. Despite LAND's languishing stock price, a recent transaction by Gladstone validates the portfolio's real estate value. Read the full article on Seeking Alpha
Seeking Alpha Oct 19

Gladstone Land goes ex-dividend tomorrow

Gladstone Land (NASDAQ:LAND) had declared $0.0458/share monthly dividend, 0.4% increase from prior dividend of $0.0456. Payable Oct. 31; for shareholders of record Oct. 21; ex-div Oct. 20. Payable Nov. 30; for shareholders of record Nov. 18; ex-div Nov. 17. Payable Dec. 30; for shareholders of record Dec. 20; ex-div Dec. 19. See LAND Dividend Scorecard, Yield Chart, & Dividend Growth.
Seeking Alpha Oct 13

Gladstone Land Has Become Interesting Again

Summary LAND owns farmland real estate across the United States, but especially concentrated on the West Coast and Florida. In a recent business update, management revealed that Hurricane Ian did the most damage to its farms in Florida. The Western drought poses a continuous threat to farmland in the region, but LAND's farms do have water access plus a company-owned water bank. LAND's main problem is its higher cost of capital, especially for preferred equity, which it keeps issuing more of for some reason. Thesis: Not Quite "Dirt" Cheap, But Close Gladstone Land (LAND) owns farmland as a real estate investment. In other words, LAND has tenant-farmers actually growing the crops and managing the operations of the farm while they pay rent to LAND, just like any other kind of real estate tenant. As such, LAND provides an interesting way for stock investors to gain exposure to the asset class of farmland, which is normally restricted to the ultra-wealthy or at least accredited investors. LAND also pays a 3% dividend yield with a monthly payout schedule, making it an interesting inflation-hedge option to consider for income-oriented investors. At a price of $18.10, LAND still trades at a 16% premium to its NAV per share of $15.60 as of Q2 2022. While that doesn't sound cheap, it is a lot lower than the 167% premium to NAV the REIT had at its peak price in April! On a cash flow basis, you'd have to go back to early 2021, before inflation took off, to find LAND as cheap as it is today. Data by YCharts I wouldn't quite say that LAND is "dirt" cheap (see what I did there?), but it's a heck of a lot cheaper than it has been anytime in the last year, and it makes an interesting inflation hedge. There are some issues with the company, namely the external management's insistence upon using preferred equity that comes with a high cost rather than some cheaper source of funding. I'd like to see LAND's cost of capital come down substantially before I become gung-ho about the stock, but I still think the selloff has made LAND interesting as a dividend-yielding inflation hedge once again. Update On Gladstone Land As of the middle of 2022, LAND owned 169 farms totaling 114,000 acres along with 45,000 acre-feet (about 14.6 million gallons) of banked water on the West Coast. Rather than row crops like wheat, corn, and soy, these farms mostly grow higher yielding (in the ROI sense) fruits, berries, vegetables, and nuts. LAND Q2 Presentation There are lots of things I like about LAND. Here are some of the highlights: Triple Net Leases. In addition to rent, tenants are responsible for paying all property taxes, insurance, and maintenance expenses. This insulates the landlord (and LAND shareholder) from rising operating costs, such as fertilizer or gasoline. Steady Farmland Appreciation. Farmland has a strong track record of steadily appreciating in value over time. LAND's management asserts that over the last year, its preferred property type has seen about 20% appreciation in value. Internal Rent Growth. Virtually all of LAND's leases feature some form of embedded rent growth or excess revenue participation. In Q2, fixed base rent grew 2%, and recent lease renewals have featured rent growth of nearly 10%. Participation (or percentage) rents are expected to be up substantially this year. Large Investable Universe. LAND estimates that there's about $48 billion worth of top-tier farms growing short-lived row crops and permanent crops across about 9,625 farms. Compare that to LAND's 169 farms worth about $1.5 billion. Healthy Diet Trend. A subset of consumers has become increasingly interested in eating healthier, cleaner, less processed diets. That includes organic foods, which represent about a third of LAND's farmed produce. Renewable Energy Leasing Potential. On the Q2 conference call, CEO David Gladstone mentioned that they are constantly "bombarded" with letters and phone calls asking to use their land for wind or solar installments. While LAND wants to ensure the tenant-farmer's operations are not disrupted, this could present some opportunities to further juice the cash yields on LAND's properties. Aligned Interests. Management owns a little over 9% of LAND common stock, which mostly aligns their interests with those of shareholders. In an October 6th business update, LAND provided the following points of information about the company: Farmland is acting as a strong inflation hedge right now. Through August 2022, the CPI increase 8.3%, but food prices rose 11.4% during that time while "food at home" (which is more pertinent to LAND's crops) rose 13.5%. Meanwhile, US farmland booked total returns of 9.7% for the twelve months ending in June 2022. LAND's portfolio is 100% leased and occupied, and the REIT has collected 97.7% of rents due so far this year, with the full remainder expected to be collected by year-end. During the third quarter, LAND signed lease renewals for six properties in Arizona, California, and Florida at a leasing spread of 9.8% (above the prior rent rate). LAND has $642.7 million in debt, virtually all of which has fixed-rate interest payments at a weighted average rate of 3.26%. This rate, says management, is fixed for the next 5.1 years, thereby sheltering the REIT from the ravages of rapidly rising interest rates. LAND has lots of liquidity and financial flexibility: $45 million in cash, ~$127 million available on the credit facility, and ~$105 million of unencumbered properties available to be mortgaged for an additional cash infusion, if desired. LAND's Florida farms suffered minimal damage from Hurricane Ian. The REIT does not expect to have any delays in rent payments from its Floridian tenants. Notably, the company's two permanent crop farms in the state, both citrus groves, both survived the storm with very little damage to the trees. The Western drought continues to be a problem for Californian farms. Though it hasn't caused any impairment to LAND's properties yet, the broader issue persists and could lead to problems next year if there isn't a good snowpack and rainy season. While land without water access is falling in value, land with water access is rising in value. LAND has been vigilant in buying properties with water sources as well as securing 45,000 acre-feet of banked water in the state last year. They're looking for ways to secure more water for their farms. At the end of the business update, CEO David Gladstone finished by saying: Outside of the almond market, most crops grown on our properties are seeing strong demand and increasing prices that are mostly outpacing the cost increases of growing these crops. As the probability of a recession looks more likely, we expect demand for food and crop pricing to stay strong, with some sectors experiencing exceptionally strong increases. As an overall asset class, farmland investments have historically performed well during recessions. Nearly everyone expects a recession to manifest in the coming year, if it isn't here already, which makes Gladstone's comments interesting. Unlike most other income-generating assets (excluding government bonds), he asserts that farmland actually tends to perform well during recessions. That makes sense, since people still need to eat, even if they've lost their job or have to rein in other spending. The Biggest Drawback The biggest issue for LAND is that its cost of capital is simply too high relative to the initial cash cap rates for permanent crop farms of 5.5-6%. Here's the REIT's capital structure as of Q2 2022: LAND Q2 Presentation As Gladstone admitted in his prepared comments on the Q2 2022 conference call: In the meantime, we're looking for ways to adjust our overall cost of capital to better match the changes that we're seeing in the farmland acquisition market. Our issues is that our preferred stock and our borrowings have both become expensive for current farmland prices and rents. So, Gladstone sees that LAND's cost of capital is too high and said during the last conference call that he'd like to lower it. But then what does LAND do? They go and issue up to $255 million in their new 6%-yielding Series C preferred equity (formerly up to $500 million). This is exactly the same yield as the initial cash yields generated from LAND's Q2-Q3 farm acquisitions. As such, unless other sources of capital are included, the investments made from this preferred equity capital won't immediately be accretive to per-share AFFO growth.
Seeking Alpha Aug 24

Gladstone Land reduces series C preferred stock offering to $255M

Gladstone Land (NASDAQ:LAND) said Wednesday it amended its $500M continuous offering of its 6% series C cumulative preferred stock. The primary offering was reduced from 20M shares (~$500M) to 10.2M shares (~$255M). The amendment also limits the number of shares to be sold under the dividend reinvestment plan to no more than 200K. The offering of the preferred stock will now terminate on by Dec. 31 or the date when all 10.2M series C preferred shares in the primary offering are sold. LAND so far sold ~$213M of its series C preferred stock since Apr. 3, 2020. "... rising cost of capital, cap rate compression in certain markets, and uncertainty surrounding the economy led to a slowdown in our acquisition activity this year. Thus, we believe it is prudent to slow down fundraising efforts with regard to the series C preferred stock and reduce our overall cost of capital," said LAND CEO David Gladstone. LAND intends to apply to list the series C preferred stock on Nasdaq or another exchange within 1 year of the termination date of the offering.
Seeking Alpha Aug 12

Gladstone Land: Growth Slowing, Debt Load Rising

Gladstone Land (LAND) is a REIT that buys farmland and rents it out to corporations and independent farmers, often the very farmers they bought the land from. Farmland REITs have outperformed the REIT average this year, but Gladstone Land has lagged, despite a hot first quarter. Gladstone's debt is now straining its earnings, leaving the company dependent on share issuance to pay off notes and maintain dividends. This article examines growth, balance sheet, dividend, and valuation metrics for this small-cap. There are only two Farmland REITs, and they are still very small, but together they have outperformed the REIT average thus far this year, losing just -0.21%, compared to the equity REIT index of -15.40%. Hoya Capital Income Builder However, Gladstone (LAND) has badly lagged its farmland REIT competitor Farmland Partners (FPI). FPI has been a stellar investment, with a total return of +21.51% YTD (year to date), compared to Gladstone Land, their mirror image at -21.77%. LAND data by YCharts What makes Gladstone tick, and what does the future hold for this small-cap REIT? This article examines growth, balance sheet, dividend, and valuation metrics, to shed light on the path ahead. Meet the company Gladstone Land Founded in 1997, Gladstone Land went public as a REIT in 2012. David Gladstone has been chairman and CEO since the company's inception. LAND buys well-watered, high-value farmland, typically fruit and vegetable producers, orchards, and vineyards, and leases the land to corporate and independent farmers on a triple-net basis. It is the modern version of sharecropping. Sellers can opt to receive shares of LAND instead of cash as payment. Leases range from 3 to 15 years, with options to extend. The weighted average remaining lease term is 6.5 years. Lease expirations average about 7.5% of annual base lease revenue per year for the next 5 years. Company investor presentation Gladstone currently owns 162 farms totaling 113,000 acres, spread across 15 U.S. states. The average farm size is just shy of 700 acres, and the portfolio is leased to 86 different tenants, with occupancy of 100%. States where Gladstone has corporate offices are shown in blue on the map below. Farm clusters are shown as yellow stars. Company investor presentation Geographic Distribution of LAND Assets (Company 10-Q) Gladstone focuses on farmland growing fresh produce (e.g., fruits and vegetables) and certain permanent crops (e.g., blueberries and nuts), because they expect such lands to deliver: higher profitability and rental income, lower price volatility, lower government dependency, and lower storage costs. Also, such ground is typically closer to major urban populations, enhancing development possibilities. Farmland investment makes sense at the most fundamental possible level, as the world population continues to grow, and the supply of arable land continues to shrink. Company investor presentation Company investor presentation Though more volatile than bonds, farmland investing is less volatile than stocks, as measured by the S&P 500, or REITs, according to NCREIF (the National Council of Real Estate Investment Fiduciaries). Company investor presentation Although Gladstone is a Farmland REIT, farmland bears a near-zero correlation with equity REITs over the past 20 years, according to the Center for Farmland Research. However, while farmland itself may be low in volatility, stock in Gladstone Land is not. The historic volatility of LAND stock according to TD Ameritrade is 41.2%, almost double that of the average REIT (24.3)%. Farmland is an asset class of its own, with very low correlations to stocks, bonds, and gold. Company investment presentation With just 164 farms thus far, LAND has barely scratched the total farmland market, as there are about 3,000 top-tier farms in vegetables and produce, and 6,625 top-tier farms in permanent crops, according to the U.S. Department of Agriculture. Thus Gladstone's market penetration is only about 1.7%. Company investment presentation Of the estimated $2.7 trillion worth of U.S. farmland, about 6 out of every 7 acres are still in the hands of families, but 40% of the land is farmed by tenants. Company investor presentation However, tellingly, farming is an old man's game at this point. The average farmer is 58 years old, and over 60% of farmers are over 55. Farmland devoted to fresh produce provides a measure of inflation protection and pricing power, as the annual CPI (Consumer Price Index) of fresh fruits and vegetables has risen faster over the past 40 years than the overall CPI or the CPI for food and beverages as a whole, according to the Bureau of Labor Statistics. Company investor presentation Since Q1 earnings were announced, Gladstone has acquired: a 1,374-acre olive orchard in California at a cost of $24.5 million, and leased it back for 15-years on a triple-net basis to California Olive Ranch, reported to be the largest miller of olives for extra virgin olive oil in the U.S., and 1,300 acres of farmland in Washington and Oregon, for approximately $37.3 million, from Horizon Vineyards, an affiliate of Resource Land. Quarterly results Here are the highlights for Q2 2022, according to the company's 10-Q : Total operating revenue of $20.3 million, up 20% YoY (year-over-year) 1H 2022 operating revenue of $40.2 million, up 22.2% YoY Total operating expenses of $12.2 million, up 28% YoY 34.5 million shares outstanding, up 17.6% YoY NOI (net operating income) of $8.1 million, up 9.9% YoY Net income of just $613 thousand, up from (-$531 thousand) YoY TCFO of $19.4 million, up 14.1 % YoY FFO of $48.2 million, up 24.6% YoY FFO per share of $0.14, up one penny (7.7%) YoY Estimated NAV per share of $15.60 Growth metrics Here are the 3-year growth figures for FFO (funds from operations), TCFO (total cash from operations), and market cap. Metric 2019 2020 2021 2022* 3-year CAGR FFO (millions) $10.41 $14.49 $21.01 $22.82 -- FFO Growth % - 39.2 45.0 8.6 29.90% FFO per share $0.54 $0.65 $0.69 $0.66 -- FFO per share growth % -- 20.4 6.2 (-4.4) 6.92% TCFO (millions) $21.37 $25.00 $32.38 $38.71 -- TCFO Growth % -- 17.0 29.5 19.5 21.90% Market Cap (billions) $0.27 $0.38 $1.15 $0.89 -- Market Cap Growth % -- 40.7 202.6 (-22.6) 48.82% Estimated, based on figures for H1 2022 Source: TD Ameritrade, CompaniesMarketCap.com, and author calculations Prior to this year, LAND's 3-year growth in FFO, TCFO, and market cap were utterly jaw-dropping, but FFO/share growth, while strong, has not been in the same category. This means the company is issuing an unusually large number of new shares every year. Share count has increased by 17.6% over the past 12 months alone. As we will see below, when we look at Valuation Metrics, they have every incentive to continue doing that. While cash flow continues to grow at a healthy pace, this year's FFO growth has slowed considerably, and FFO/share and market cap are in danger of taking a step backward. Despite its meteoric growth in market share, LAND is still a small-cap, yet to cross the $1.4 billion threshold where it reaches escape velocity. Though too small to qualify as a FROG, Gladstone Land is definitely a Tadpole with legs. Meanwhile, here is how the stock price has done over the past 3 twelve-month periods, compared to the REIT average as represented by the Vanguard Real Estate ETF (VNQ). Metric 2019 2020 2021 2022 3-yr CAGR LAND share price Aug. 8 $11.68 $16.50 $23.78 $26.43 -- LAND share price Gain % -- 41.3 44.1 11.1 31.29% VNQ share price Aug. 8 $90.96 $82.39 $106.91 $98.20 -- VNQ share price Gain % -- (-9.4) 29.8 (-8.1) 2.59% Source: MarketWatch.com and author calculations LAND shares have sold off sharply since April. From a high of $42.10 on April 20, the price plunged to $21.23 on June 16. That's a loss of (-49.6)% in under two months, from which shares have only slightly recovered. Seeking Alpha Premium Despite the sharp sell-off, LAND has easily outpaced the VNQ in each of the past 3 years, and has rewarded investors with an annual average of 31.29% share price growth, compared to just 2.59% for the VNQ. In its 10 years in operation, LAND has grown its holdings approximately 20-fold. Company investor presentation The company's return on equity has been just 0.79% over the past 12 months, however, even while assets have grown 22.15%. Balance sheet metrics Here are the key balance sheet metrics. Company Liquidity Ratio Debt Ratio Debt/EBITDA Bond Rating LAND 1.86 33% N/A -- Source: Hoya Capital Income Builder, TD Ameritrade, and author calculations Gladstone Land has an abysmal 10 times more long debt than EBITDA (1088%), according to Seeking Alpha Premium, so it will be hard for them to make their debt payments without issuing more shares, restricting the dividend, or selling assets.
Seeking Alpha Jul 25

Gladstone Land acquires vineyards in Washington, Oregon for $37.3M

Gladstone Land (NASDAQ:LAND) said Monday it acquired 1.3K gross acres of farmland in Washington and Oregon, for ~$37.3M from Horizon Vineyards, an affiliate of Resource Land. LAND also assumed several long-term, triple-net vineyard leases with a grower.
Seeking Alpha Jul 18

Gladstone Land raises dividend 0.4% to $0.0456 dividend

Gladstone Land (NASDAQ:LAND) declares $0.0456/share monthly dividend, 0.4% increase from prior dividend of $0.0454. Payable July 29; for shareholders of record July 22; ex-div July 21. Payable Aug 31; for shareholders of record Aug 23; ex-div Aug 22. Payable Sep 30; for shareholders of record Sep 22; ex-div Sep 21.
Seeking Alpha Jun 02

Gladstone Land: Current Valuation Is A Downside Risk

Farmland has proven to be a hedge against inflation over the last years, where returns have been better than those on Wall Street. Gladstone Land's portfolio is of great quality and, in the long term, value will emerge. Current valuation combined with excessive debt and constant dilution make the LAND stock a risky bet.

Rendimenti per gli azionisti

LANDUS Specialized REITsUS Mercato
7D1.0%1.9%-0.8%
1Y0.3%5.0%27.1%

Ritorno vs Industria: LAND ha avuto una performance inferiore rispetto al US Specialized REITs che ha registrato un rendimento 5 % nell'ultimo anno.

Rendimento vs Mercato: LAND ha avuto una performance inferiore al mercato US che ha registrato un rendimento 27.1 % nell'ultimo anno.

Volatilità dei prezzi

Is LAND's price volatile compared to industry and market?
LAND volatility
LAND Average Weekly Movement4.6%
Specialized REITs Industry Average Movement3.7%
Market Average Movement7.2%
10% most volatile stocks in US Market16.3%
10% least volatile stocks in US Market3.2%

Prezzo delle azioni stabile: LAND non ha avuto una volatilità dei prezzi significativa negli ultimi 3 mesi rispetto al mercato US.

Volatilità nel tempo: La volatilità settimanale ( 5% ) di LAND è rimasta stabile nell'ultimo anno.

Informazioni sull'azienda

FondatoI dipendentiAMMINISTRATORE DELEGATOSito web
1997n/aDavid Gladstonewww.gladstonefarms.com

Gladstone Land Corporation è un fondo comune d'investimento immobiliare quotato in borsa che acquisisce e possiede terreni agricoli e proprietà correlate situate nei principali mercati agricoli degli Stati Uniti. La Società possiede attualmente 150 aziende agricole, che comprendono circa 103.000 acri in 15 stati diversi e oltre 55.000 acri-piedi di risorse idriche in California. Le aziende agricole di Gladstone Land sono prevalentemente situate in regioni in cui i suoi affittuari possono coltivare colture annuali a filari di prodotti freschi, come bacche e ortaggi, che vengono generalmente piantati e raccolti ogni anno.

Gladstone Land Corporation Riepilogo dei fondamenti

Come si confrontano gli utili e i ricavi di Gladstone Land con la sua capitalizzazione di mercato?
LAND statistiche fondamentali
Capitalizzazione di mercatoUS$407.21m
Utili (TTM)-US$29.57m
Ricavi(TTM)US$88.01m
4.7x
Rapporto P/S
-13.9x
Rapporto P/E

Utili e ricavi

Statistiche chiave sulla redditività dall'ultima relazione sugli utili (TTM)
LAND Conto economico (TTM)
RicaviUS$88.01m
Costo del fatturatoUS$25.01m
Profitto lordoUS$63.00m
Altre speseUS$92.57m
Utili-US$29.57m

Ultimi utili riportati

Mar 31, 2026

Prossima data di guadagno

n/a

Utile per azione (EPS)-0.69
Margine lordo71.58%
Margine di profitto netto-33.61%
Rapporto debito/patrimonio netto70.3%

Come si è comportato LAND nel lungo periodo?

Vedi performance storica e confronto

Dividendi

5.9%
Rendimento attuale del dividendo
336%
Rapporto di remunerazione
Quando è necessario acquistare LAND per ricevere un dividendo imminente?
Gladstone Land date dei dividendi
Data di stacco del dividendoMay 20 2026
Data di pagamento dei dividendiMay 29 2026
Giorni fino al dividendo Ex3 days
Giorni prima della data di pagamento dei dividendi6 days

Analisi aziendale e situazione dei dati finanziari

DatiUltimo aggiornamento (ora UTC)
Analisi dell'azienda2026/05/21 13:28
Prezzo dell'azione a fine giornata2026/05/21 00:00
Utili2026/03/31
Utili annuali2025/12/31

Fonti dei dati

I dati utilizzati nella nostra analisi aziendale provengono da S&P Global Market Intelligence LLC. I seguenti dati sono utilizzati nel nostro modello di analisi per generare questo report. I dati sono normalizzati, il che può comportare un ritardo nella disponibilità della fonte.

PacchettoDatiTempisticaEsempio Fonte USA *
Dati finanziari della società10 anni
  • Conto economico
  • Rendiconto finanziario
  • Bilancio
Stime di consenso degli analisti+3 anni
  • Previsioni finanziarie
  • Obiettivi di prezzo degli analisti
Prezzi di mercato30 anni
  • Prezzi delle azioni
  • Dividendi, scissioni e azioni
Proprietà10 anni
  • Top azionisti
  • Insider trading
Gestione10 anni
  • Team di leadership
  • Consiglio di amministrazione
Sviluppi principali10 anni
  • Annunci aziendali

* Esempio per i titoli statunitensi, per i titoli non statunitensi si utilizzano forme e fonti normative equivalenti.

Se non specificato, tutti i dati finanziari si basano su un periodo annuale ma vengono aggiornati trimestralmente. Si tratta dei cosiddetti dati TTM (Trailing Twelve Month) o LTM (Last Twelve Month). Per saperne di più.

Modello di analisi e Snowflake

I dettagli del modello di analisi utilizzato per generare questo report sono disponibili sulla nostra pagina Github; abbiamo anche guide su come utilizzare i nostri report e tutorial su Youtube.

Scoprite il team di livello mondiale che ha progettato e realizzato il modello di analisi Simply Wall St.

Metriche di settore e industriali

Le nostre metriche di settore e di sezione sono calcolate ogni 6 ore da Simply Wall St; i dettagli del nostro processo sono disponibili su Github.

Fonti analitiche

Gladstone Land Corporation è coperta da 12 analisti. 5 di questi analisti ha fornito le stime di fatturato o di utile utilizzate come input per il nostro report. Le stime degli analisti vengono aggiornate nel corso della giornata.

AnalistaIstituzione
Gaurav MehtaAlliance Global Partners
Nathan CrossettBerenberg
John MassoccaB. Riley Securities, Inc.