Gladstone Land
Market Cap
US$337.5m
Last Updated
2020/10/20 23:54 UTC
Data Sources
Company Financials +
Executive Summary
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. More Details
Rewards
Risk Analysis
Snowflake Analysis
Reasonable growth potential and fair value.
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 has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
2.4%
LAND
-1.5%
US REITs
-1.3%
US Market
1 Year Return
23.1%
LAND
-15.6%
US REITs
18.5%
US Market
Return vs Industry: LAND exceeded the US REITs industry which returned -15.6% over the past year.
Return vs Market: LAND exceeded the US Market which returned 18.5% over the past year.
Shareholder returns
| LAND | Industry | Market | |
|---|---|---|---|
| 7 Day | 2.4% | -1.5% | -1.3% |
| 30 Day | -5.1% | 2.2% | 5.3% |
| 90 Day | -9.2% | 1.2% | 7.5% |
| 1 Year | 27.7%23.1% | -12.2%-15.6% | 21.3%18.5% |
| 3 Year | 22.5%8.3% | 14.3%0.9% | 42.4%32.9% |
| 5 Year | 93.6%55.8% | 38.9%11.0% | 84.2%63.5% |
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
1 day ago | Simply Wall St
Do Insiders Own Lots Of Shares In Gladstone Land Corporation (NASDAQ:LAND)?1 month ago | Simply Wall St
Who Has Been Buying Gladstone Land Corporation (NASDAQ:LAND) Shares?2 months ago | Simply Wall St
Shareholders Of Gladstone Land (NASDAQ:LAND) Must Be Happy With Their 99% ReturnValuation
Is Gladstone Land undervalued compared to its fair value and its price relative to the market?
40.7%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: LAND ($14.57) is trading below our estimate of fair value ($24.59)
Significantly Below Fair Value: LAND is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: LAND is unprofitable, so we can't compare its PE Ratio to the US REITs industry average.
PE vs Market: LAND 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's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: LAND is good value based on its PB Ratio (1x) compared to the US REITs industry average (1.4x).
Next Steps
Future Growth
How is Gladstone Land forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?
44.5%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: LAND is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (2.2%).
Earnings vs Market: LAND is forecast to become profitable over the next 3 years, which is considered above average market growth.
High Growth Earnings: LAND's is expected to become profitable in the next 3 years.
Revenue vs Market: LAND's revenue (13.9% per year) is forecast to grow faster than the US market (10.1% per year).
High Growth Revenue: LAND's revenue (13.9% 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
Next Steps
Past Performance
How has Gladstone Land performed over the past 5 years?
-23.8%
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 23.8% 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 (1.6%).
Return on Equity
High ROE: LAND has a negative Return on Equity (1.55%), as it is currently unprofitable.
Next Steps
Financial Health
How is Gladstone Land's financial position?
Financial Position Analysis
Short Term Liabilities: LAND's short term assets ($26.2M) exceed its short term liabilities ($14.1M).
Long Term Liabilities: LAND's short term assets ($26.2M) do not cover its long term liabilities ($536.2M).
Debt to Equity History and Analysis
Debt Level: LAND's debt to equity ratio (170.3%) is considered high.
Reducing Debt: LAND's debt to equity ratio has increased from 154.6% to 170.3% 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 29.8% per year.
Next Steps
Dividend
What is Gladstone Land current dividend yield, its reliability and sustainability?
3.69%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: LAND's dividend (3.69%) is higher than the bottom 25% of dividend payers in the US market (1.64%).
High Dividend: LAND's dividend (3.69%) is low compared to the top 25% of dividend payers in the US market (4.68%).
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 8 years.
Current Payout to Shareholders
Dividend Coverage: With its high payout ratio (124.6%), LAND's dividend payments are not well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: LAND's dividends in 3 years are forecast to be covered by earnings (71.3% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
7.9yrs
Average management tenure
CEO
David Gladstone (78 yo)
23.75yrs
Tenure
US$57,750
Compensation
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 ...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Founder | 23.75yrs | US$57.75k | 9.64% $ 32.5m | |
| Vice Chairman & COO | 13.75yrs | no data | no data | |
| CFO & Assistant Treasurer | 6.25yrs | US$71.90k | 0.015% $ 49.5k | |
| Investor Relations Specialist | no data | no data | no data | |
| Chief Compliance Officer | 7.92yrs | no data | no data | |
| General Counsel & Secretary | 11yrs | no data | 0.0062% $ 21.0k | |
| Executive Vice President of West Coast Operations | 7.17yrs | no data | no data | |
| Chief Valuation Officer | no data | no data | no data | |
| Treasurer | 5.75yrs | no data | no data | |
| Assistant General Counsel | no data | no data | no data |
7.9yrs
Average Tenure
58yo
Average Age
Experienced Management: LAND's management team is seasoned and experienced (7.9 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Founder | 23.75yrs | US$57.75k | 9.64% $ 32.5m | |
| Vice Chairman & COO | 13.75yrs | no data | no data | |
| Independent Director | 6yrs | US$41.00k | 0.049% $ 165.4k | |
| Independent Director | 7.75yrs | US$37.00k | 0.0035% $ 11.9k | |
| Independent Director | 7.75yrs | US$48.50k | 0.026% $ 86.2k | |
| Independent Lead Director | no data | US$38.00k | 0.054% $ 183.5k | |
| Independent Director | 7.75yrs | US$52.00k | 0.0081% $ 27.4k | |
| Independent Director | 5.92yrs | US$44.00k | 0.019% $ 62.7k |
7.8yrs
Average Tenure
75yo
Average Age
Experienced Board: LAND's board of directors are considered experienced (7.8 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.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 14.6%.
Top Shareholders
Company Information
Gladstone Land Corporation's company bio, 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$337.547m
- Market Cap: US$347.566m
- Shares outstanding: 23.85m
- Website: https://www.gladstonefarms.com
Location
- Gladstone Land Corporation
- 1521 Westbranch Drive
- Suite 100
- McLean
- Virginia
- 22102
- United States
Listings
| 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 | |
| LAND.O | NasdaqGM (Nasdaq Global Market) | PFD SER B 6% | US | USD | Jul 2018 |
Biography
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 it ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/10/20 23:54 |
| End of Day Share Price | 2020/10/20 00:00 |
| Earnings | 2020/06/30 |
| Annual Earnings | 2019/12/31 |
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.