LAND - Gladstone Land: Growth Trajectory Continues But Shares Are Still Overpriced

• Gladstone Land recently announced the purchase of a large olive orchard in California. This acquisition will help the company to continue to deliver growth.
• This will increase the company's footprint in the state with the largest proportion of its overall assets.
• The company invests in specialty farms, which tend to have much better fundamentals than farms growing commodity crops such as wheat or corn.
• The company has a long history of distribution increases, but it appears able to easily afford them.
• The shares are substantially overvalued at the current price based on the underlying value of the company's assets.

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