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.
Unattractive dividend payer and overvalued.
Share Price & News
How has Gladstone Land's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: LAND.P has not had significant price volatility in the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: LAND.P underperformed the US REITs industry which returned 12.8% over the past year.
Return vs Market: LAND.P underperformed the US Market which returned 10.5% over the past year.
Price Volatility Vs. Market
How volatile is Gladstone Land's share price compared to the market and industry in the last 5 years?
Simply Wall St News
No news available
Is Gladstone Land undervalued compared to its fair value and its price relative to the market?
Price to Book (PB) ratio
Share Price vs. Fair Value
Below Fair Value: LAND.P ($25.9) is trading above our estimate of fair value ($24.12)
Significantly Below Fair Value: LAND.P is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: LAND.P is unprofitable, so we can't compare its PE Ratio to the REITs industry average.
PE vs Market: LAND.P is unprofitable, so we can't compare its PE Ratio to the US market.
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate LAND.P's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: LAND.P is good value based on its PB Ratio (1x) compared to the US REITs industry average (2x).
How is Gladstone Land forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: LAND.P is forecast to remain unprofitable over the next 3 years.
Earnings vs Market: LAND.P is forecast to remain unprofitable over the next 3 years.
High Growth Earnings: LAND.P is forecast to remain unprofitable over the next 3 years.
Revenue vs Market: LAND.P's revenue (15.6% per year) is forecast to grow faster than the US market (7.6% per year).
High Growth Revenue: LAND.P's revenue (15.6% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if LAND.P's Return on Equity is forecast to be high in 3 years time
How has Gladstone Land performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: LAND.P is currently unprofitable.
Growing Profit Margin: LAND.P is currently unprofitable.
Past Earnings Growth Analysis
Earnings Trend: LAND.P is unprofitable, and losses have increased over the past 5 years at a rate of -4.6% per year.
Accelerating Growth: Unable to compare LAND.P's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: LAND.P is unprofitable, making it difficult to compare its past year earnings growth to the REITs industry (5.9%).
Return on Equity
High ROE: LAND.P has a negative Return on Equity (0.63%), as it is currently unprofitable.
Return on Assets
Return on Capital Employed
How is Gladstone Land's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Inventory Level: LAND.P has a high level of physical assets or inventory.
Debt Coverage by Assets: LAND.P's debt is not covered by short term assets (assets are 0x debt).
Cash Runway Analysis
For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.
Stable Cash Runway: LAND.P has been profitable on average in the past, therefore cash runway is not a concern.
Forecast Cash Runway: LAND.P has been profitable on average in the past, therefore cash runway is not a concern.
Financial Institutions Analysis
Asset Level: LAND.P's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if LAND.P has a sufficient allowance for bad loans.
Low Risk Liabilities: LAND.P reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if LAND.P has an acceptable proportion of non-loan assets held.
Low Risk Deposits: LAND.P has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if LAND.P has an appropriate level of bad loans.
What is Gladstone Land's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Upcoming Dividend Payment
Purchase Gladstone Land before the 'Buy Limit' to receive their next dividend payment.
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: LAND.P's dividend (3.87%) is higher than the bottom 25% of dividend payers in the US market (1.52%).
High Dividend: LAND.P's dividend (3.87%) is low compared to the top 25% of dividend payers in the US market (3.9%).
Stability and Growth of Payments
Stable Dividend: LAND.P has been paying a dividend for less than 10 years and during this time payments have been volatile.
Growing Dividend: LAND.P's dividend payments have increased, but the company has only paid a dividend for 7 years.
Current Payout to Shareholders
Dividend Coverage: With its high payout ratio (132.6%), LAND.P's dividend payments are not well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: LAND.P's dividends in 3 years are forecast to be thoroughly covered by earnings (4% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
David Gladstone (77yo)
Mr. David John Gladstone is the Founder of The Gladstone Companies and has been its Chief Executive Officer and Chairman since inception in 2003. Mr. Gladstone founded Gladstone Commercial Corporation in 2 ...
|CFO & Assistant Treasurer||5.6yrs||US$71.90k||0.014% $42.1k|
|Vice Chairman & COO||13.1yrs||no data||no data|
|Investor Relations Specialist||0yrs||no data||no data|
|Chief Compliance Officer||7.3yrs||no data||no data|
|General Counsel & Secretary||10.3yrs||no data||no data|
|Managing Director||6.5yrs||no data||no data|
|Chief Valuation Officer||0yrs||no data||no data|
|Treasurer||5.1yrs||no data||no data|
|Assistant General Counsel||0yrs||no data||no data|
Experienced Management: LAND.P's management team is seasoned and experienced (7.3 years average tenure).
|Vice Chairman & COO||13.1yrs||no data||no data|
|Independent Director||5.3yrs||no data||0.048% $143.0k|
|Independent Director||7.1yrs||no data||0.0058% $17.2k|
|Independent Director||7.1yrs||no data||0.027% $81.5k|
|Lead Director||0yrs||no data||0.057% $169.7k|
|Independent Director||7.1yrs||no data||0.0087% $25.9k|
|Independent Director||5.3yrs||no data||0.021% $62.1k|
Experienced Board: LAND.P's board of directors are considered experienced (7.1 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 26.4%.
Gladstone Land Corporation's company bio, employee growth, exchange listings and data sources
- Name: Gladstone Land Corporation
- Ticker: LAND.P
- Exchange: NasdaqGM
- Founded: 1997
- Industry: Specialized REITs
- Sector: Real Estate
- Implied Market Cap: US$299.317m
- Market Cap: US$302.479m
- Shares outstanding: 21.63m
- Website: https://www.gladstonefarms.com
- Gladstone Land Corporation
- 1521 Westbranch Drive
- Suite 100
- United States
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|LAND||NasdaqGM (Nasdaq Global Market)||Yes||Common Stock||US||USD||Jan 2013|
|3L4||BST (Boerse-Stuttgart)||Yes||Common Stock||DE||EUR||Jan 2013|
|LAND.P||NasdaqGM (Nasdaq Global Market)||RED PFD SER A||US||USD||Aug 2016|
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 113 farms, comprised of approximately 88,000 acres in 10 different states, valued at approximately $885 million. 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, figs, olives, pistachios, and other orchards, as well as blueberry groves and vineyards, which are generally planted every 10 to 20-plus years and harvested annually. The Company may also acquire property related to farming, such as cooling facilities, processing buildings, packaging facilities, and distribution centers. The Company pays monthly distributions to its stockholders and has paid 84 consecutive monthly cash distributions on its common stock since its initial public offering in January 2013. The Company has increased its common distributions 17 times over the prior 20 quarters, and the current per-share distribution on its common stock is 0.04465 per month, or 0.53580 per year.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/02/27 01:39|
|End of Day Share Price||2020/02/26 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.