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LANDO - LANDP: Don't Bother With The Gladstone Land Series A Preferreds
Gladstone Land Corporation 6.00% Series B Cumulative Redeemable Preferred Stock
Gladstone Land is a unique REIT that focuses on investing in specialty farms.
The fundamentals of this real estate sector are very good due to a growing population and decreasing supply of farmland.
The trust has long-term leases with its tenants that provide it with a sustainable source of cash flow to finance its payouts.
The trust has a long history of steady distribution growth but the Series A preferreds will not benefit from this to their fixed distribution.
The company is redeeming the shares in February and an investor buying today will only receive a 1.5% annualized yield. There are better opportunities.