(LAND) Gladstone Land - Overview
Sector: Real Estate | Industry: REIT - Specialty | Exchange: NASDAQ (USA) | Market Cap: 415m USD | Total Return: 2.9% in 12m
Avg Turnover: 5.94M
Qual. Beats: 0
Rev. Trend: -53.1%
Qual. Beats: 0
Warnings
High Debt/EBITDA (9.1) with thin interest coverage (0.7)
Interest Coverage Ratio 0.7 is critical
Altman Z'' -0.94 < 1.0 - financial distress zone
Tailwinds
No distinct edge detected
Gladstone Land Corporation (NASDAQ: LAND) is a Maryland-incorporated real estate investment trust (REIT) specializing in the acquisition and management of U.S. farmland. The company’s portfolio includes 150 farms across 15 states, totaling approximately 103,000 acres, alongside significant water assets in California. Its business model focuses on leasing land to tenants for the production of fresh produce row crops and permanent crops, such as nuts and fruit, which provide diverse harvest cycles.
Farmland REITs like Gladstone Land benefit from the finite supply of arable land and the inelastic demand for food products. Unlike traditional commodity crop farms, Gladstone emphasizes high-value crops and organic acreage, which often command higher rent premiums and price stability. Since its 2013 IPO, the company has maintained a consistent record of monthly cash distributions to shareholders.
Investors can evaluate the underlying asset values and historical performance of this REIT through the detailed metrics available on ValueRay. Gladstone Land continues to expand its holdings in major agricultural markets to support its monthly dividend policy.
- Interest rate fluctuations impact cost of debt and property acquisition cap rates
- High-value permanent crop yields and commodity prices dictate lease renewal rental rates
- California water asset availability and regulation affect valuation of Western US holdings
- Consumer demand for organic fresh produce drives occupancy and lease revenue growth
- Monthly distribution stability and yield spread against Treasury notes influence share price
| Net Income: -5.88m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.01 > 0.02 and ΔFCF/TA -1.44 > 1.0 |
| NWC/Revenue: 1.96% < 20% (prev 28.93%; Δ -26.97% < -1%) |
| CFO/TA 0.01 > 3% & CFO 11.8m > Net Income -5.88m |
| Net Debt (479.6m) to EBITDA (52.7m): 9.10 < 3 |
| Current Ratio: 1.15 > 1.5 & < 3 |
| Outstanding Shares: last quarter (40.9m) vs 12m ago 12.91% < -2% |
| Gross Margin: -11.24% > 18% (prev 0.70%; Δ -1.19k% > 0.5%) |
| Asset Turnover: 7.09% > 50% (prev 6.38%; Δ 0.71% > 0%) |
| Interest Coverage Ratio: 0.73 > 6 (EBITDA TTM 52.7m / Interest Expense TTM 22.1m) |
| A: 0.00 (Total Current Assets 12.9m - Total Current Liabilities 11.2m) / Total Assets 1.20b |
| B: -0.18 (Retained Earnings -221.3m / Total Assets 1.20b) |
| C: 0.01 (EBIT TTM 16.1m / Avg Total Assets 1.24b) |
| D: -0.42 (Book Value of Equity -216.2m / Total Liabilities 515.4m) |
| Altman-Z'' = -0.94 = CCC |
As of May 25, 2026, the stock is trading at USD 9.63 with a total of 739,420 shares traded.
Over the past week, the price has changed by +2.96%,
over one month by -2.54%,
over three months by -15.14% and
over the past year by +2.89%.
Gladstone Land has received a consensus analysts rating of 3.57. Therefore, it is recommended to hold LAND.
- StrongBuy: 2
- Buy: 0
- Hold: 5
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 11 | 14.2% |
P/E Forward = 185.1852
P/S = 4.7202
P/B = 0.6035
P/EG = 22.95
Revenue TTM = 88.1m USD
EBIT TTM = 16.1m USD
EBITDA TTM = 52.7m USD
Long Term Debt = 467.5m USD (from longTermDebt, last quarter)
Short Term Debt = 11.2m USD (from shortTermDebt, last quarter)
Debt = 488.2m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 479.6m USD (calculated: Debt 488.2m - CCE 8.62m)
Enterprise Value = 895.0m USD (415.4m + Debt 488.2m - CCE 8.62m)
Interest Coverage Ratio = 0.73 (Ebit TTM 16.1m / Interest Expense TTM 22.1m)
EV/FCF = 143.5x (Enterprise Value 895.0m / FCF TTM 6.24m)
FCF Yield = 0.70% (FCF TTM 6.24m / Enterprise Value 895.0m)
FCF Margin = 7.08% (FCF TTM 6.24m / Revenue TTM 88.1m)
Net Margin = -6.68% (Net Income TTM -5.88m / Revenue TTM 88.1m)
Gross Margin = -11.24% ((Revenue TTM 88.1m - Cost of Revenue TTM 98.0m) / Revenue TTM)
Gross Margin QoQ = -48.89% (prev 19.91%)
Tobins Q-Ratio = 0.74 (Enterprise Value 895.0m / Total Assets 1.20b)
Interest Expense / Debt = 4.52% (Interest Expense 22.1m / Debt 488.2m)
Taxrate = 21.0% (US default 21%)
NOPAT = 12.8m (EBIT 16.1m * (1 - 21.00%))
Current Ratio = 1.15 (Total Current Assets 12.9m / Total Current Liabilities 11.2m)
Debt / Equity = 0.71 (Debt 488.2m / totalStockholderEquity, last quarter 688.3m)
Debt / EBITDA = 9.10 (Net Debt 479.6m / EBITDA 52.7m)
Debt / FCF = 76.90 (Net Debt 479.6m / FCF TTM 6.24m)
Total Stockholder Equity = 672.6m (last 4 quarters mean from totalStockholderEquity)
RoA = -0.47% (Net Income -5.88m / Total Assets 1.20b)
RoE = -0.66% (Net Income TTM -5.88m / Total Stockholder Equity 893.9m)
RoCE = 1.19% (EBIT 16.1m / Capital Employed (Equity 893.9m + L.T.Debt 467.5m))
RoIC = 1.07% (NOPAT 12.8m / Invested Capital 1.20b)
WACC = 5.50% (E(415.4m)/V(903.6m) * Re(7.77%) + D(488.2m)/V(903.6m) * Rd(4.52%) * (1-Tc(0.21)))
Discount Rate = 7.77% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 61.46 | Cagr: 5.95%
[DCF] Terminal Value 73.10% ; FCFF base≈13.8m ; Y1≈12.1m ; Y5≈9.76m
[DCF] Fair Price = N/A (negative equity: EV 156.7m - Net Debt 479.6m = -323.0m; debt exceeds intrinsic value)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.23 | # QB: 0
Revenue Correlation: -53.06 | Revenue CAGR: -5.42% | SUE: 0.63 | # QB: 0
EPS current Quarter (2026-06-30): EPS=-0.28 | Chg30d=-22.98% | Revisions=-33% | Analysts=3
EPS next Quarter (2026-09-30): EPS=-0.18 | Chg30d=-47.25% | Revisions=-33% | Analysts=3
EPS current Year (2026-12-31): EPS=-0.59 | Chg30d=N/A | Revisions=-43% | GrowthEPS=-102.3% | GrowthRev=-3.1%
EPS next Year (2027-12-31): EPS=-0.48 | Chg30d=-13.50% | Revisions=-33% | GrowthEPS=+4.3% | GrowthRev=+1.7%
[Analyst] Revisions Ratio: -43%