LAND / Gladstone Land: Current Valuation Is A Downside Risk

Gladstone Land Corporation (NASDAQ:LAND ) Q2 2023 Earnings Conference Call August 8, 2023 8:30 AM ET Company Participants David Gladstone - Chairman, more_horizontal

Gladstone Land (LAND) came out with quarterly funds from operations (FFO) of $0.11 per share, in line with the Zacks Consensus Estimate. This compares more_horizontal

This is clear mispricing. 2 essentially identical securities trading at disparate prices. Temporary factors are depressing the price of LANDP. It sho more_horizontal

I recently wrote some puts on LAND that were at-the-money, following a drop after they posted earnings. The earnings were okay, nothing spectacular bu more_horizontal

Gladstone Land is an externally managed REIT focusing on farmland. While I'm not too interested in the common shares, I think the preferred shares off more_horizontal

Gladstone Land is a farmland-focused REIT. After a large decline, LAND is now trading at less than NAV. more_horizontal

Gladstone Land (LAND) came out with quarterly funds from operations (FFO) of $0.17 per share, missing the Zacks Consensus Estimate of $0.19 per share. more_horizontal

LAND operates in an industry with a persistent and strong tailwind. Growing food crops provide a buffer against rising inflation or even a prolonged s more_horizontal