Snowflake Score | |
---|---|
Valuation | 3/6 |
Future Growth | 1/6 |
Past Performance | 0/6 |
Financial Health | 4/6 |
Dividends | 2/6 |
LAND Stock Overview
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.
Gladstone Land Competitors
Price History & Performance
Historical stock prices | |
---|---|
Current Share Price | US$22.93 |
52 Week High | US$42.10 |
52 Week Low | US$21.23 |
Beta | 0.63 |
1 Month Change | -9.44% |
3 Month Change | -36.57% |
1 Year Change | -8.72% |
3 Year Change | 98.87% |
5 Year Change | 96.49% |
Change since IPO | 52.87% |
Recent News & Updates
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.
Shareholder Returns
LAND | US REITs | US Market | |
---|---|---|---|
7D | 6.1% | 6.5% | 6.6% |
1Y | -8.7% | -8.6% | -18.4% |
Return vs Industry: LAND matched the US REITs industry which returned -8.6% over the past year.
Return vs Market: LAND exceeded the US Market which returned -18.5% over the past year.
Price Volatility
LAND volatility | |
---|---|
LAND Average Weekly Movement | 7.9% |
REITs Industry Average Movement | 4.9% |
Market Average Movement | 8.1% |
10% most volatile stocks in US Market | 16.6% |
10% least volatile stocks in US Market | 3.2% |
Stable Share Price: LAND is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 8% a week.
Volatility Over Time: LAND's weekly volatility (8%) has been stable over the past year.
About the Company
Founded | Employees | CEO | Website |
---|---|---|---|
1997 | n/a | David Gladstone | https://www.gladstonefarms.com |
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 127 farms, comprised of approximately 94,000 acres in 13 different states, valued at approximately $1.0 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.
Gladstone Land Fundamentals Summary
LAND fundamental statistics | |
---|---|
Market Cap | US$789.13m |
Earnings (TTM) | -US$9.29m |
Revenue (TTM) | US$79.15m |
9.9x
P/S Ratio-84.5x
P/E RatioIs LAND overvalued?
See Fair Value and valuation analysisEarnings & Revenue
LAND income statement (TTM) | |
---|---|
Revenue | US$79.15m |
Cost of Revenue | US$9.81m |
Gross Profit | US$69.34m |
Other Expenses | US$78.63m |
Earnings | -US$9.29m |
Last Reported Earnings
Mar 31, 2022
Next Earnings Date
n/a
Earnings per share (EPS) | -0.27 |
Gross Margin | 87.61% |
Net Profit Margin | -11.74% |
Debt/Equity Ratio | 113.8% |
How did LAND perform over the long term?
See historical performance and comparisonDividends
2.4%
Current Dividend Yield135%
Payout RatioValuation
Is LAND undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score
3/6Valuation Score 3/6
Price-To-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
PEG Ratio
Key Valuation Metric
Which metric is best to use when looking at relative valuation for LAND?
Other financial metrics that can be useful for relative valuation.
What is LAND's n/a Ratio? | |
---|---|
n/a Ratio | 0x |
n/a | n/a |
Market Cap | US$789.13m |
Key Statistics | |
---|---|
Enterprise Value/Revenue | 18.4x |
Enterprise Value/EBITDA | 23.8x |
PEG Ratio | n/a |
Price to Sales Ratio vs Peers
How does LAND's PS Ratio compare to its peers?
LAND PS Ratio vs Peers |
---|
Company | PS | Estimated Growth | Market Cap |
---|---|---|---|
Peer Average | 9.1x |
Price-To-Sales vs Peers: LAND is expensive based on its Price-To-Sales Ratio (9.9x) compared to the peer average (9.1x).
Price to Earnings Ratio vs Industry
How does LAND's PE Ratio compare vs other companies in the U.S. REITs Industry?
Price-To-Sales vs Industry: LAND is expensive based on its Price-To-Sales Ratio (9.9x) compared to the US REITs industry average (5.9x)
Price to Sales Ratio vs Fair Ratio
What is LAND's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.
Fair Ratio | |
---|---|
Current PS Ratio | 9.9x |
Fair PS Ratio | 10.9x |
Price-To-Sales vs Fair Ratio: LAND is good value based on its Price-To-Sales Ratio (9.9x) compared to the estimated Fair Price-To-Sales Ratio (10.9x).
Share Price vs Fair Value
What is the Fair Price of LAND when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: LAND ($22.93) is trading below our estimate of fair value ($29.93)
Significantly Below Fair Value: LAND is trading below fair value by more than 20%.
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate LAND's PEG Ratio to determine if it is good value.
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Future Growth
How is Gladstone Land forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?
Future Growth Score
1/6Future Growth Score 1/6
Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE
22.4%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: LAND is forecast to remain unprofitable over the next 3 years.
Earnings vs Market: LAND is forecast to remain unprofitable over the next 3 years.
High Growth Earnings: LAND is forecast to remain unprofitable over the next 3 years.
Revenue vs Market: LAND's revenue (15.7% per year) is forecast to grow faster than the US market (8.4% per year).
High Growth Revenue: LAND's revenue (15.7% 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's Return on Equity is forecast to be high in 3 years time
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Past Performance
How has Gladstone Land performed over the past 5 years?
Past Performance Score
0/6Past Performance Score 0/6
Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE
-61.4%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: LAND is currently unprofitable.
Growing Profit Margin: LAND is currently unprofitable.
Past Earnings Growth Analysis
Earnings Trend: LAND is unprofitable, and losses have increased over the past 5 years at a rate of 61.4% per year.
Accelerating Growth: Unable to compare LAND's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: LAND is unprofitable, making it difficult to compare its past year earnings growth to the REITs industry (69.5%).
Return on Equity
High ROE: LAND has a negative Return on Equity (0.66%), as it is currently unprofitable.
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Financial Health
How is Gladstone Land's financial position?
Financial Health Score
4/6Financial Health Score 4/6
Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Stable Cash Runway
Forecast Cash Runway
Financial Position Analysis
Short Term Liabilities: LAND's short term assets ($53.1M) exceed its short term liabilities ($16.7M).
Long Term Liabilities: LAND's short term assets ($53.1M) do not cover its long term liabilities ($737.1M).
Debt to Equity History and Analysis
Debt Level: LAND's net debt to equity ratio (105.4%) is considered high.
Reducing Debt: LAND's debt to equity ratio has reduced from 253.8% to 113.8% over the past 5 years.
Balance Sheet
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: Whilst unprofitable LAND has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.
Forecast Cash Runway: LAND is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 30.5% per year.
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Dividend
What is Gladstone Land current dividend yield, its reliability and sustainability?
Dividend Score
2/6Dividend Score 2/6
Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage
2.38%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: LAND's dividend (2.38%) is higher than the bottom 25% of dividend payers in the US market (1.57%).
High Dividend: LAND's dividend (2.38%) is low compared to the top 25% of dividend payers in the US market (4.24%).
Stability and Growth of Payments
Stable Dividend: LAND has been paying a dividend for less than 10 years and during this time payments have been volatile.
Growing Dividend: LAND's dividend payments have increased, but the company has only paid a dividend for 9 years.
Earnings Payout to Shareholders
Earnings Coverage: With its high payout ratio (135.4%), LAND's dividend payments are not well covered by earnings.
Cash Payout to Shareholders
Cash Flow Coverage: With its reasonable cash payout ratio (56.3%), LAND's dividend payments are covered by cash flows.
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Management
How experienced are the management team and are they aligned to shareholders interests?
9.2yrs
Average management tenure
CEO
David Gladstone (79 yo)
25.42yrs
Tenure
US$57,750
Compensation
Mr. David John Gladstone has served as Chief Executive Officer, President and Chairman of the Board of Directors at Gladstone Companies, Inc. since its inception in 2009. He has been the Chief Executive Of...
Leadership Team
Experienced Management: LAND's management team is seasoned and experienced (9.2 years average tenure).
Board Members
Experienced Board: LAND's board of directors are considered experienced (9.4 years average tenure).
Ownership
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.
Ownership Breakdown
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 16.4%.
Top Shareholders
Company Information
Gladstone Land Corporation's employee growth, exchange listings and data sources
Key Information
- Name: Gladstone Land Corporation
- Ticker: LAND
- Exchange: NasdaqGM
- Founded: 1997
- Industry: Specialized REITs
- Sector: Real Estate
- Implied Market Cap: US$789.131m
- Market Cap: US$784.436m
- Shares outstanding: 34.41m
- Website: https://www.gladstonefarms.com
Location
- Gladstone Land Corporation
- 1521 Westbranch Drive
- Suite 100
- McLean
- Virginia
- 22102
- United States
Listings
Company Analysis and Financial Data Status
Data | Last Updated (UTC time) |
---|---|
Company Analysis | 2022/06/26 00:00 |
End of Day Share Price | 2022/06/24 00:00 |
Earnings | 2022/03/31 |
Annual Earnings | 2021/12/31 |
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.