Gladstone Land Corporation 6.00% Series B Cumulative Redeemable Preferred Stock (LANDO)

FairStock Score: 74/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look at this cumulative preferred as a bond-like claim on a farmland REIT, so the 7.58% yield at the 2026-10-13 close is the main attraction. The business owns 142 farms and about 98,000 acres, plus California water assets, which can be valuable. But the recent filed figures are weak: in fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $333,000 and net income was -$8.5M; in fiscal Q1 2026, the quarter ended 2026-03-31, revenue was $1.7M and net income was -$4.3M. FY2025, ended 2025-12-31, showed $13.5M net income, but the latest quarters show losses. FFO/AFFO, the right REIT measures, are not in the data, so I cannot properly judge dividend coverage. Leverage is moderate at D/E 0.72, yet Altman Z is 0.71 and Piotroski is 4/9, both warning signs. At the 2026-10-13 close, P/B is 1.27 and P/E is -68.31; REIT EPS and P/E are distorted by depreciation, so P/B and yield matter more. FairStock's Lynch category is STALWART, based on 22.4% yearly profit growth over five years and -26.6% revenue growth, which conflicts with current losses. The 7.58% yield looks fair-to-cheap only if the cumulative preferred dividend remains safe; without FFO/AFFO coverage, it could be a yield trap.

In plain English: Gladstone Land owns farmland and farm-related properties and rents them to farmers. The business looks weak right now: it lost money in the first half of 2026, and its revenue has been shrinking. At $19.81, the preferred stock pays a 7.58% dividend and sells near the lower end of its 52-week range, so the price looks fair rather than clearly cheap unless the dividend proves safe.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K/A (period ended 2025-12-31) · FY2024 10-K/A (period ended 2024-12-31) · FY2023 10-K/A (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer