Gladstone Land Corporation 6.00% Series C Cumulative Redeemable Preferred Stock
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 169 farms, comprised of approxima… Read more
Gladstone Land Corporation 6.00% Series C Cumulative Redeemable Preferred Stock (LANDP) - Net Assets
Latest net assets as of March 2024: $723.32 Million USD
Based on the latest financial reports, Gladstone Land Corporation 6.00% Series C Cumulative Redeemable Preferred Stock (LANDP) has net assets worth $723.32 Million USD as of March 2024.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($1.36 Billion) and total liabilities ($640.19 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $723.32 Million |
| % of Total Assets | 53.05% |
| Annual Growth Rate | 30.96% |
| 5-Year Change | 157.95% |
| 10-Year Change | 1099.97% |
| Growth Volatility | 17.58 |
Gladstone Land Corporation 6.00% Series C Cumulative Redeemable Preferred Stock - Net Assets Trend (2013–2023)
This chart illustrates how Gladstone Land Corporation 6.00% Series C Cumulative Redeemable Preferred Stock's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Gladstone Land Corporation 6.00% Series C Cumulative Redeemable Preferred Stock (2013–2023)
The table below shows the annual net assets of Gladstone Land Corporation 6.00% Series C Cumulative Redeemable Preferred Stock from 2013 to 2023.
| Year | Net Assets | Change |
|---|---|---|
| 2023-12-31 | $719.61 Million | -1.61% |
| 2022-12-31 | $731.36 Million | +24.16% |
| 2021-12-31 | $589.07 Million | +53.49% |
| 2020-12-31 | $383.79 Million | +37.57% |
| 2019-12-31 | $278.97 Million | +54.08% |
| 2018-12-31 | $181.05 Million | +53.50% |
| 2017-12-31 | $117.95 Million | +34.38% |
| 2016-12-31 | $87.78 Million | +12.53% |
| 2015-12-31 | $78.01 Million | +30.08% |
| 2014-12-31 | $59.97 Million | +23.62% |
| 2013-12-31 | $48.51 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Gladstone Land Corporation 6.00% Series C Cumulative Redeemable Preferred Stock's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 14119020000.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2023)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $36.00K | 0.01% |
| Other Comprehensive Income | $7.37 Million | 1.02% |
| Other Components | $856.22 Million | 118.98% |
| Total Equity | $719.61 Million | 100.00% |
Gladstone Land Corporation 6.00% Series C Cumulative Redeemable Preferred Stock Competitors by Market Cap
The table below lists competitors of Gladstone Land Corporation 6.00% Series C Cumulative Redeemable Preferred Stock ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Relaxo Footwears Limited
NSE:RELAXO
|
$228.32 Million |
|
Beneteau SA
LSE:0K8N
|
$228.36 Million |
|
G-Tech Optoelectronics Corp
TW:3149
|
$228.41 Million |
|
Aju IB Investment Co. Ltd
KQ:027360
|
$228.44 Million |
|
China Railway Harbin Group of Technology Corp. A
SHG:688459
|
$228.17 Million |
|
Shenzhen Weiguang Biological Products Co Ltd
SHE:002880
|
$228.11 Million |
|
Thonburi Healthcare Grp Pcl
BK:THG
|
$228.08 Million |
|
MBK Public Company Limited
BK:MBK
|
$228.06 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Gladstone Land Corporation 6.00% Series C Cumulative Redeemable Preferred Stock's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2022 to 2023, total equity changed from 731,362,000 to 719,613,000, a change of -11,749,000 (-1.6%).
- Net income of 14,565,000 contributed positively to equity growth.
- Dividend payments of 45,090,000 reduced retained earnings.
- Share repurchases of 1,191,000 reduced equity.
- New share issuances of 57,778,000 increased equity.
- Other comprehensive income decreased equity by 1,641,000.
- Other factors decreased equity by 36,170,000.
Equity Change Factors (2022 to 2023)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $14.56 Million | +2.02% |
| Dividends Paid | $45.09 Million | -6.27% |
| Share Repurchases | $1.19 Million | -0.17% |
| Share Issuances | $57.78 Million | +8.03% |
| Other Comprehensive Income | $-1.64 Million | -0.23% |
| Other Changes | $-36.17 Million | -5.03% |
| Total Change | $- | -1.61% |
Book Value vs Market Value Analysis
This analysis compares Gladstone Land Corporation 6.00% Series C Cumulative Redeemable Preferred Stock's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.00x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 2.70x to 1.00x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2013-12-31 | $7.43 | $20.06 | x |
| 2014-12-31 | $7.73 | $20.06 | x |
| 2015-12-31 | $7.81 | $20.06 | x |
| 2016-12-31 | $7.65 | $20.06 | x |
| 2017-12-31 | $7.97 | $20.06 | x |
| 2018-12-31 | $9.85 | $20.06 | x |
| 2019-12-31 | $13.21 | $20.06 | x |
| 2020-12-31 | $14.64 | $20.06 | x |
| 2021-12-31 | $17.15 | $20.06 | x |
| 2022-12-31 | $20.87 | $20.06 | x |
| 2023-12-31 | $20.08 | $20.06 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Gladstone Land Corporation 6.00% Series C Cumulative Redeemable Preferred Stock utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 2.02%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 16.11%
- • Asset Turnover: 0.07x
- • Equity Multiplier: 1.93x
- Recent ROE (2.02%) is above the historical average (0.47%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2013 | -2.52% | -30.33% | 0.04x | 1.93x | $-6.08 Million |
| 2014 | -0.21% | -1.74% | 0.05x | 2.53x | $-6.12 Million |
| 2015 | 0.73% | 4.78% | 0.05x | 2.95x | $-7.23 Million |
| 2016 | 0.58% | 2.59% | 0.05x | 4.35x | $-7.22 Million |
| 2017 | -0.03% | -0.12% | 0.05x | 4.21x | $-11.02 Million |
| 2018 | 1.49% | 7.17% | 0.06x | 3.21x | $-15.00 Million |
| 2019 | 0.63% | 4.28% | 0.05x | 2.95x | $-25.92 Million |
| 2020 | 1.28% | 8.64% | 0.05x | 2.78x | $-33.45 Million |
| 2021 | 0.60% | 4.64% | 0.06x | 2.30x | $-55.19 Million |
| 2022 | 0.64% | 5.28% | 0.06x | 1.99x | $-68.43 Million |
| 2023 | 2.02% | 16.11% | 0.07x | 1.93x | $-57.40 Million |
Industry Comparison
This section compares Gladstone Land Corporation 6.00% Series C Cumulative Redeemable Preferred Stock's net assets metrics with peer companies in the REIT - Specialty industry.
Industry Context
- Industry: REIT - Specialty
- Average net assets among peers: $2,464,316,437
- Average return on equity (ROE) among peers: 25.18%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Gladstone Land Corporation 6.00% Series C Cumulative Redeemable Preferred Stock (LANDP) | $723.32 Million | -2.52% | 0.89x | $228.25 Million |
| American Tower Corp (AMT) | $3.68 Billion | 17.30% | 2.82x | $86.39 Billion |
| Automotive Properties Real Estate Investment Trust (APPTF) | $663.40 Million | 10.85% | 0.79x | $198.09 Million |
| Crown Castle (CCI) | $11.57 Billion | 5.38% | 1.83x | $36.18 Billion |
| DIGITAL CORE REIT (DGTCF) | $1.28 Billion | 16.05% | 0.57x | $460.68 Million |
| Digital Realty Trust Inc (DLR) | $1.56 Billion | 4.33% | 1.10x | $55.29 Billion |
| EPR Properties (EPR) | $1.47 Billion | 0.55% | 0.83x | $4.20 Billion |
| Equinix Inc (EQIX) | $2.75 Billion | 6.84% | 2.77x | $92.84 Billion |
| Charter Hall Social Infrastructure REIT (FKKEF) | $1.43 Billion | 4.96% | 0.49x | $693.51 Million |
| Farmland Partners Inc (FPI) | $333.37K | 175.89% | 109.73x | $467.58 Million |
| Gaming & Leisure Properties (GLPI) | $236.33 Million | 9.70% | 0.13x | $12.88 Billion |