Gladstone Land Corporation 6.00% Series C Cumulative Redeemable Preferred Stock (LANDP) - Net Assets
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. Explore how efficiently does Gladstone Land Corporation 6.00% Series generate cash to assess how effectively this company generates cash.
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 how much of Gladstone Land Corporation 6.00% Series 's assets are long-term investments to see how much of total assets are deployed in long-term investments.
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. For live valuation and market cap data, see LANDP market cap overview.
| 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 |
|---|---|
|
ARWAY CORP.
F:E65
|
$203.29K |
|
CleanTech Lithium plc
LSE:CTL
|
$203.71K |
|
Chill Brands Group PLC
LSE:CHLL
|
$206.78K |
|
TEVANO SYSTEMS HLDGS INC.
F:7RBA
|
$210.67K |
|
Symphony Environmental Technologies plc
LSE:SYM
|
$201.31K |
|
ETHERNITY NETW.(DI) -001
F:82N
|
$200.00K |
|
Manolete Partners PLC
LSE:MANO
|
$199.89K |
|
CARLYLE COMMODIT.CORP.
F:BJ4
|
$199.86K |
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: 1.02x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 2.75x to 1.02x 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 | $20.44 | x |
| 2014-12-31 | $7.73 | $20.44 | x |
| 2015-12-31 | $7.81 | $20.44 | x |
| 2016-12-31 | $7.65 | $20.44 | x |
| 2017-12-31 | $7.97 | $20.44 | x |
| 2018-12-31 | $9.85 | $20.44 | x |
| 2019-12-31 | $13.21 | $20.44 | x |
| 2020-12-31 | $14.64 | $20.44 | x |
| 2021-12-31 | $17.15 | $20.44 | x |
| 2022-12-31 | $20.87 | $20.44 | x |
| 2023-12-31 | $20.08 | $20.44 | 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: $4,403,318,800
- Average return on equity (ROE) among peers: -0.65%
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 | $201.93K |
| American Tower Corp (AMT) | $6.71 Billion | 10.21% | 3.01x | $82.24 Billion |
| Crown Castle (CCI) | $10.49 Billion | 8.20% | 2.67x | $36.18 Billion |
| Digital Realty Trust Inc (DLR) | $21.00 Billion | 4.52% | 1.10x | $55.29 Billion |
| EPR Properties (EPR) | $1.69 Billion | 10.68% | 0.94x | $4.42 Billion |
| Equinix Inc (EQIX) | $1.18 Billion | 5.87% | 1.57x | $92.84 Billion |
| Farmland Partners Inc (FPI) | $215.59 Million | 2.00% | 2.04x | $455.80 Million |
| Fermi Inc. (FRMI) | $1.10 Billion | -44.38% | 0.29x | $3.33 Billion |
| Gaming & Leisure Properties (GLPI) | $-137.16 Million | 0.00% | 0.00x | $12.97 Billion |
| Iron Mountain Incorporated (IRM) | $951.25 Million | -4.63% | 2.01x | $29.90 Billion |
| Lamar Advertising Company (LAMR) | $839.00 Million | 1.02% | 3.09x | $13.24 Billion |
About 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