LANDM - Gladstone Land Offers A 6.65-7% Yield (To Maturity) On Its Preferred Equity
2024-07-20 11:40:00 ET
Summary
- Gladstone Land is a REIT focusing on farmland leasing.
- Preferred dividends are well covered and the balance sheet is strong with high equity to assets ratio.
- Series D preferred shares offer a potential yield of 6.65% if called in January 2026.
Introduction
Gladstone Land ( LAND ) is a REIT focusing on owning farmland which it leases to farmers. It's not exposed to successful or disappointing harvests other than the impact it has on the tenants. In my previous articles I focused on the Series D preferred shares which has a mandatory call date in January 2026 . As that date is coming closer and as the share price of the Series D is slowly moving up in anticipation of the call date, I wanted to check up on my position to see if I need to take any action....
Gladstone Land Offers A 6.65-7% Yield (To Maturity) On Its Preferred Equity