LAND Gladstone Land Corporation - Common Stock
NASDAQ · Real Estate · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Apr 7, 2026
$9.56
· of 52w range
· above low
· to high
$7.9252w low
$13.0052w high
Market Cap (MRQ)
$363M
P/E (TTM)
-33.0
EPS (TTM)
$-0.29
Revenue (TTM)
$88M
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52W Range
$8–$13
Analyst Rating
HOLD
Price Target
$9
P/E
-33.0
ROE
2.0%
Net Profit Margin
15.3%
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LAND Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$9.56
Market Cap (MRQ)
$363M
P/E (TTM)
-33.0
EPS (TTM)
$-0.29
Revenue (TTM)
$88M
Div Yield
5.6%
ROE (TTM)
2.0%
52W Range
$8–$13
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue$88M2017-12-31 → 2025-12-31
EPS$-0.292020-12-31 → 2025-12-31
Net margin15.3%2018-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | LAND | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | -33.05Y avg ≈-55.9 | ≈-55.9 | · | · | |
| P/S (TTM) | 4.15Y avg ≈7.4 | ≈7.4 | 5.0 | Undervalued | |
| P/B (MRQ) | 0.55Y avg ≈0.9 | ≈0.9 | 0.7 | Undervalued | |
| Price / Cash Flow | 52.05Y avg ≈25.3 | ≈25.3 | 20.5 | Overvalued | |
| Price / Tangible Book (MRQ) | 0.55Y avg ≈0.9 | ≈0.9 | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | LAND | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| EBITDA Margin | 39.1%5Y avg ≈39.4% | ≈39.4% | 32.3% | Top tier | |
| Net Profit Margin (TTM) | 15.3%5Y avg ≈11.4% | ≈11.4% | 33.1% | Weak | |
| ROA (TTM) | 1.1%5Y avg ≈0.74% | ≈0.74% | 4.0% | Weak | |
| ROE (TTM) | 2.0%5Y avg ≈1.5% | ≈1.5% | 6.5% | Weak |
Financial Health Debt, liquidity, solvency — balance sheet strength
No data for this ratio group yet
Not enough fundamentals data to compute this ratio group yet.
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | LAND | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | 3.7%5Y avg ≈10.0% | ≈10.0% | · | · | |
| Revenue CAGR 3Y | -0.34%5Y avg ≈6.8% | ≈6.8% | · | · | |
| Revenue CAGR 5Y | 9.2% | · | · | · | |
| Net Income YoY | 1.8%5Y avg ≈41.6% | ≈41.6% | · | · | |
| Net Income CAGR 3Y | 42.2%5Y avg ≈47.3% | ≈47.3% | · | · | |
| Net Income CAGR 5Y | 22.4% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | LAND | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.15Y avg ≈0.1 | ≈0.1 | 0.1 | Weak |
value · ≈ 5Y avg · industry median · verdict relative to median
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield5.6%
Payout Ratio151.3%
Annualized Payout≈$0.56
5Y Div CAGR≈0.87%
| Ex-date | Amount | Currency | Yield |
|---|---|---|---|
| Sep 21, 2026 | $0.05 | USD | ≈5.9% |
| Aug 18, 2026 | $0.05 | USD | ≈6.9% |
| Jul 24, 2026 | $0.05 | USD | ≈6.6% |
| Jun 23, 2026 | $0.05 | USD | ≈6.4% |
| May 20, 2026 | $0.05 | USD | ≈6.0% |
| Apr 24, 2026 | $0.05 | USD | ≈5.7% |
| Mar 23, 2026 | $0.05 | USD | ≈5.3% |
| Feb 18, 2026 | $0.05 | USD | ≈5.0% |
| Jan 23, 2026 | $0.05 | USD | ≈5.8% |
| Dec 22, 2025 | $0.05 | USD | ≈6.4% |
| Nov 17, 2025 | $0.05 | USD | ≈6.0% |
| Oct 24, 2025 | $0.05 | USD | ≈6.2% |
| Sep 22, 2025 | $0.05 | USD | ≈6.1% |
| Aug 20, 2025 | $0.05 | USD | ≈6.3% |
| Jul 21, 2025 | $0.05 | USD | ≈5.5% |
| Jun 20, 2025 | $0.05 | USD | ≈5.5% |
| May 21, 2025 | $0.05 | USD | ≈6.0% |
| Apr 21, 2025 | $0.05 | USD | ≈5.8% |
| Mar 19, 2025 | $0.05 | USD | ≈5.3% |
| Feb 19, 2025 | $0.05 | USD | ≈4.9% |
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
54.0%
Next Report
Nov 03, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Aug 11, 2026 | $-0.32 | $-0.27 | -19.1% |
| March 31, 2026 | May 11, 2026 | $-0.24 | $-0.23 | -3.8% |
| Dec. 31, 2025 | $-0.05 | $0.23 | -120.9% | |
| Sept. 30, 2025 | $-0.11 | $-0.27 | 59.3% | |
| June 30, 2025 | $-0.38 | $-0.22 | -71.2% | |
| March 31, 2025 | $0.25 | $-0.07 | 480.1% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $88M | $85M | $90M | $89M | $75M | $57M | $41M | $37M | $25M | |
| Cost of Revenue | $10M | $0 | $0 | · | · | · | · | · | · | |
| SG&A Expense | $2M | $3M | $3M | $3M | $2M | $2M | $2M | $2M | $2M | |
| Operating Expenses | $68M | $56M | $57M | $55M | $44M | $29M | $21M | $25M | $14M | |
| Operating Income | · | · | · | · | · | · | · | · | $11M | |
| Interest Expense | · | · | $24M | $26M | $25M | $21M | $16M | $12M | $10M | |
| Other Non-op | $-7M | $-16M | $-19M | $-29M | $-28M | $-23M | $-18M | $-9M | $-11M | |
| Net Income | $14M | $13M | $15M | $5M | $3M | $5M | $2M | $3M | $-31.0K | |
| EPS (Basic) | $-0.29 | $-0.29 | $-0.28 | $-0.43 | $-0.29 | $-0.20 | · | · | · | |
| EPS (Diluted) | $-0.29 | $-0.29 | $-0.28 | $-0.43 | $-0.29 | $-0.20 | · | · | · | |
| Shares (Basic) | 36,506,720 | 35,909,956 | 35,733,742 | 34,563,460 | 30,357,268 | 22,258,121 | · | · | · | |
| Shares (Diluted) | 36,506,720 | 35,909,956 | 35,733,742 | 34,563,460 | 30,357,268 | 22,258,121 | · | · | · | |
| EBITDA | $35M | $35M | $37M | $35M | $27M | $17M | $13M | $9M | $19M |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $27M | $18M | $19M | $61M | $17M | $9M | $14M | $15M | $3M | |
| Intangibles | $3M | $4M | $5M | $6M | $4M | $4M | $5M | $6M | $5M | |
| Total Assets | $1.24B | $1.31B | $1.39B | $1.46B | $1.35B | $1.07B | $817M | $565M | $462M | |
| Total Liabilities | $569M | $625M | $668M | $726M | $762M | $683M | $538M | $384M | $344M | |
| Long-term Debt | $474M | $528M | $574M | $626M | $668M | $624M | $482M | $336M | $301M | |
| Common Stock | $38.0K | $36.0K | $36.0K | $35.0K | $34.0K | $26.0K | $21.0K | $18.0K | $14.0K | |
| AOCI | $5M | $8M | $7M | $9M | $-1M | $-2M | $-390.0K | · | · | |
| Stockholders' Equity | $670M | $687M | $720M | $731M | $587M | $384M | $277M | $176M | $110M | |
| Liabilities + Equity | $1.24B | $1.31B | $1.39B | $1.46B | $1.35B | $1.07B | $817M | $565M | $462M | |
| Shares Outstanding | 38,014,918 | 36,184,658 | 35,838,442 | 35,050,397 | 34,210,013 | 26,219,019 | 20,936,658 | 17,891,340 | 13,791,574 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $35M | $35M | $37M | $35M | $27M | $17M | $13M | $9M | $7M | |
| Amort. of Intangibles | · | · | $988.0K | $1M | $1M | $2M | $2M | $1M | $1M | |
| Other Non-cash | $-41M | $-19M | $-12M | $4M | $2M | $3M | $7M | $-2M | $-691.0K | |
| Operating Cash Flow | $7M | $30M | $40M | $44M | $32M | $25M | $21M | $10M | $7M | |
| Investing Cash Flow | $84M | $63M | $-4M | $-85M | $-295M | $-273M | $-263M | $-94M | $-130M | |
| Dividends Paid | $20M | $20M | $20M | $19M | $16M | $12M | $10M | $8M | $6M | |
| Financing Cash Flow | $-82M | $-93M | $-79M | $86M | $270M | $243M | $240M | $95M | $124M | |
| Net Change in Cash | $9M | $-296.0K | $-43M | $44M | $7M | $-4M | $-1M | $12M | $500.0K |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | 15.3% | 15.6% | 16.1% | 5.3% | 4.6% | 8.6% | 4.3% | 7.2% | · | |
| EBITDA Margin | 39.1% | 41.1% | 41.1% | 39.6% | 36.1% | 29.2% | 31.4% | 25.6% | · | |
| ROA | 1.1% | 0.98% | 1.0% | 0.34% | 0.29% | 0.52% | 0.25% | · | -0.01% | |
| ROE | 2.0% | 1.9% | 2.0% | 0.71% | 0.72% | 1.5% | 0.77% | · | -0.03% |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Interest Coverage | · | · | · | · | · | · | · | · | 1.2 |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | · | · |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $17.63 | $18.99 | $20.08 | $20.87 | $17.15 | $14.64 | $13.21 | · | $7.97 | |
| Revenue / Share | $2.42 | $2.37 | $2.53 | $2.58 | $2.48 | · | · | · | · | |
| Cash Flow / Share | $0.19 | $0.82 | $1.12 | $1.27 | $1.07 | · | · | · | · | |
| Cash / Share | $0.71 | $0.51 | $0.52 | $1.74 | $0.49 | $0.35 | $0.65 | · | $0.21 | |
| Dividend / Share | · | · | · | · | · | · | · | $0.53 | $0.52 | |
| Dividend Paid / Share | $0.56 | $0.56 | $0.55 | $0.55 | $0.54 | $0.54 | $0.53 | $0.53 | $0.52 | |
| EPS (TTM) | $-0.29 | $-0.29 | $-0.28 | $-0.43 | $-0.29 | $-0.20 | · | · | · |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 3.7% | -5.7% | 1.3% | 18.5% | 32.1% | · | · | · | · | |
| Revenue CAGR 3Y | -0.34% | 4.2% | 16.6% | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 9.2% | · | · | · | · | · | · | · | · | |
| Net Income YoY | 1.8% | -8.8% | 209.4% | 34.7% | -29.0% | · | · | · | · | |
| Net Income CAGR 3Y | 42.2% | 56.1% | 43.5% | · | · | · | · | · | · | |
| Net Income CAGR 5Y | 22.4% | · | · | · | · | · | · | · | · | |
| Dividends Paid CAGR 5Y | 11.2% | · | · | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $88M | $85M | $90M | $89M | $75M | $57M | $41M | $37M | $25M | |
| Net Income TTM | $14M | $13M | $15M | $5M | $3M | $5M | $2M | $3M | $-31.0K | |
| Market Cap | $348M | $393M | $518M | $643M | $1.15B | $384M | $272M | · | $185M | |
| P/E | -31.6 | -37.4 | -51.6 | -42.7 | -116.4 | -73.2 | · | · | · | |
| P/S | 3.9 | 4.6 | 5.7 | 7.2 | 15.3 | 6.7 | 6.7 | · | 7.4 | |
| P/B | 0.5 | 0.6 | 0.7 | 0.9 | 2.0 | 1.0 | 1.0 | · | 1.7 | |
| P / Tangible Book | 0.5 | 0.6 | 0.7 | 0.9 | 2.0 | 1.0 | · | · | · | |
| P / Cash Flow | 49.7 | 13.3 | 12.9 | 14.7 | 35.7 | 15.4 | 12.7 | · | 28.4 | |
| Dividend Yield | 5.9% | 5.1% | 3.8% | 2.9% | 1.4% | 3.1% | 3.9% | · | 3.4% | |
| Earnings Yield | -3.2% | -2.7% | -1.9% | -2.3% | -0.86% | -1.4% | · | · | · | |
| Payout Ratio | 151.3% | 151.2% | 135.9% | 401.3% | 471.8% | 244.3% | 600.8% | 314.7% | -20645.2% | |
| Annual Payout | $20M | $20M | $20M | $19M | $16M | $12M | $10M | $8M | $6M |
Income Statement
| Metric | Trend | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 | Q1 2022 | Q3 2021 | Q2 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $41M | $18M | $12M | $17M | $21M | $23M | $21M | $20M | $24M | $21M | $21M | $24M | $20M | $20M | $20M | $17M | |
| SG&A Expense | $585.0K | $556.0K | $520.0K | $682.0K | $632.0K | $655.0K | $772.0K | $566.0K | $605.0K | $790.0K | $786.0K | $729.0K | $567.0K | $684.0K | $462.0K | $581.0K | |
| Operating Expenses | $29M | $13M | $13M | $13M | $14M | $16M | $13M | $13M | $14M | $13M | $14M | $15M | $12M | $13M | $11M | $9M | |
| Interest Expense | · | · | · | · | · | · | · | $6M | $6M | $6M | $6M | $6M | $7M | $6M | $6M | $6M | |
| Other Non-op | $-8M | $-2M | $-8M | $11M | $-7M | $-7M | $-9M | $6M | $-6M | $28.0K | $-6M | $-8M | $-8M | $-5M | $-7M | $-8M | |
| Net Income | $4M | $2M | $-8M | $15M | $540.0K | $6.0K | $-823.0K | $14M | $3M | $8M | $2M | $2M | $616.0K | $1M | $1M | $-530.0K | |
| EPS (Basic) | $-0.05 | $-0.11 | $-0.38 | $0.25 | $-0.15 | $-0.16 | $-0.19 | $0.21 | $-0.08 | $0.05 | $-0.12 | $-0.10 | $-0.11 | $-0.08 | $-0.05 | $-0.12 | |
| EPS (Diluted) | $-0.05 | $-0.11 | $-0.38 | $0.25 | $-0.15 | $-0.16 | $-0.19 | $0.21 | $-0.08 | $0.05 | $-0.12 | $-0.10 | $-0.11 | $-0.08 | $-0.05 | $-0.12 | |
| Shares (Basic) | · | 36,190,889 | 36,184,658 | 36,184,658 | · | 35,838,442 | 35,838,442 | 35,838,442 | 35,822,123 | 35,722,836 | 35,547,397 | 34,607,440 | 34,520,068 | 34,285,002 | 31,362,423 | 29,360,515 | |
| Shares (Diluted) | · | 36,190,889 | 36,184,658 | 36,184,658 | · | 35,838,442 | 35,838,442 | 35,838,442 | 35,822,123 | 35,722,836 | 35,547,397 | 34,607,440 | 34,520,068 | 34,285,002 | 31,362,423 | 29,360,515 | |
| EBITDA | · | $8M | $8M | $8M | · | $9M | $9M | $9M | $9M | $9M | $9M | $9M | $8M | $8M | $7M | $6M |
Balance Sheet
| Metric | Trend | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 | Q1 2022 | Q3 2021 | Q2 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $27M | $11M | $30M | $43M | $18M | $13M | $50M | $52M | $25M | $48M | $39M | $37M | $48M | $49M | $66M | $67M | |
| Intangibles | $3M | $3M | $3M | $3M | $4M | $4M | $4M | $5M | $5M | $5M | $6M | $6M | $5M | $4M | $5M | $5M | |
| Total Assets | $1.24B | $1.23B | $1.26B | $1.28B | $1.31B | $1.32B | $1.35B | $1.36B | $1.41B | $1.43B | $1.43B | $1.44B | $1.41B | $1.39B | $1.26B | $1.20B | |
| Total Liabilities | $569M | $564M | $589M | $592M | $625M | $627M | $644M | $640M | $675M | $694M | $692M | $731M | $758M | $754M | $736M | $720M | |
| Long-term Debt | $474M | $480M | $496M | $499M | $528M | $531M | $549M | $552M | $584M | $594M | $599M | $640M | $662M | $660M | $646M | $628M | |
| Common Stock | $38.0K | $36.0K | $36.0K | $36.0K | $36.0K | $36.0K | $36.0K | $36.0K | $36.0K | $36.0K | $36.0K | $35.0K | $35.0K | $35.0K | $32.0K | $30.0K | |
| AOCI | $5M | $5M | $5M | $6M | $8M | $6M | $8M | $8M | $10M | $9M | $7M | $9M | $6M | $4M | $-987.0K | $-1M | |
| Stockholders' Equity | $670M | $662M | $670M | $690M | $687M | $691M | $708M | $723M | $731M | $735M | $735M | $707M | $652M | $630M | $523M | $479M | |
| Liabilities + Equity | $1.24B | $1.23B | $1.26B | $1.28B | $1.31B | $1.32B | $1.35B | $1.36B | $1.41B | $1.43B | $1.43B | $1.44B | $1.41B | $1.39B | $1.26B | $1.20B | |
| Shares Outstanding | 38,014,918 | 36,307,401 | 36,184,658 | 36,184,658 | 36,184,658 | 35,838,442 | 35,838,442 | 35,838,442 | 35,838,442 | 35,780,082 | 35,713,982 | 34,704,005 | 34,520,068 | 34,520,068 | 32,043,989 | 30,478,064 |
Cash Flow
| Metric | Trend | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 | Q1 2022 | Q3 2021 | Q2 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $9M | $8M | $8M | $8M | $9M | $9M | $9M | $9M | $9M | $9M | $9M | $9M | $8M | $8M | $7M | $6M | |
| Amort. of Intangibles | · | · | · | · | · | · | $289.0K | $231.0K | $244.0K | $256.0K | $252.0K | $258.0K | $245.0K | $266.0K | $296.0K | $304.0K | |
| Other Non-cash | · | · | · | $-19M | · | · | · | $-19M | · | · | $-6M | · | · | $-2M | · | · | |
| Operating Cash Flow | $11M | $-12M | $4M | $4M | $12M | $-1M | $16M | $3M | $80.0K | $18M | $5M | $4M | $12M | $8M | $3M | $10M | |
| Investing Cash Flow | $8M | $19M | $-3M | $60M | $3M | $-2M | $-841.0K | $63M | $-4M | $6M | $-3M | $-43M | $-32M | $-4M | $-65M | $-80M | |
| Dividends Paid | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $4M | $4M | |
| Financing Cash Flow | $-2M | $-26M | $-14M | $-40M | $-10M | $-34M | $-17M | $-33M | $-19M | $-14M | $-24M | $28M | $19M | $29M | $61M | $63M | |
| Net Change in Cash | $16M | $-19M | $-12M | $25M | $5M | $-37M | $-2M | $33M | $-23M | $9M | $-22M | $-11M | $-937.0K | $33M | $-298.0K | $-6M |
Profitability
| Metric | Trend | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 | Q1 2022 | Q3 2021 | Q2 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | · | 11.7% | -64.1% | 89.9% | · | 0.03% | -3.9% | 67.0% | 13.4% | 37.0% | 8.2% | 7.4% | 3.0% | 5.9% | 7.6% | -3.1% | |
| EBITDA Margin | · | 47.2% | 68.1% | 50.2% | · | 39.0% | 41.4% | 43.4% | 39.3% | 42.6% | 43.0% | 37.8% | 41.3% | 41.9% | 35.4% | 37.2% | |
| ROA | · | 0.16% | -0.60% | 1.1% | · | 0.00% | -0.06% | 0.97% | 0.22% | 0.55% | 0.12% | 0.13% | 0.05% | 0.09% | 0.14% | -0.05% | |
| ROE | · | 0.31% | -1.1% | 2.1% | · | 0.00% | -0.11% | 1.9% | 0.44% | 1.1% | 0.26% | 0.29% | 0.11% | 0.23% | 0.36% | -0.14% |
Efficiency
| Metric | Trend | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 | Q1 2022 | Q3 2021 | Q2 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Per Share
| Metric | Trend | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 | Q1 2022 | Q3 2021 | Q2 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | · | $18.23 | $18.52 | $19.07 | · | $19.29 | $19.77 | $20.18 | $20.41 | $20.54 | $20.58 | $20.38 | $18.89 | $18.24 | $16.33 | $15.73 | |
| Revenue / Share | · | $0.49 | $0.34 | $0.46 | · | $0.63 | $0.59 | $0.57 | $0.66 | $0.59 | $0.60 | $0.70 | $0.59 | $0.58 | $0.62 | $0.58 | |
| Cash Flow / Share | · | · | · | $0.12 | · | · | · | $0.10 | · | · | $0.13 | · | · | $0.22 | · | · | |
| Cash / Share | · | $0.31 | $0.84 | $1.19 | · | $0.37 | $1.39 | $1.44 | $0.70 | $1.35 | $1.08 | $1.07 | $1.40 | $1.43 | $2.08 | $2.19 | |
| Dividend Paid / Share | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 | |
| EPS (TTM) | · | $-0.39 | · | · | · | $-0.27 | $-0.19 | $0.05 | $-0.29 | $-0.31 | $-0.47 | $-0.33 | $-0.28 | $-0.29 | $-0.36 | $-0.35 |
Valuation (TTM)
| Metric | Trend | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 | Q1 2022 | Q3 2021 | Q2 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | · | $68M | · | · | · | $89M | $90M | $89M | $91M | $91M | $90M | $87M | $83M | $79M | $68M | $62M | |
| Net Income TTM | · | $10M | · | · | · | $15M | $18M | $26M | $14M | $13M | $5M | $6M | $5M | $4M | $2M | $2M | |
| Market Cap | · | $333M | $368M | $381M | · | $498M | $491M | $478M | $510M | $582M | $595M | $628M | $765M | $1.26B | $730M | $733M | |
| P/E | · | -23.5 | · | · | · | -51.5 | -72.1 | 266.8 | -49.1 | -52.5 | -35.4 | -54.8 | -79.1 | -125.6 | -63.2 | -68.7 | |
| P/S | · | 4.9 | · | · | · | 5.6 | 5.5 | 5.3 | 5.6 | 6.4 | 6.6 | 7.2 | 9.3 | 15.9 | 10.8 | 11.8 | |
| P/B | · | 0.5 | 0.5 | 0.6 | · | 0.7 | 0.7 | 0.7 | 0.7 | 0.8 | 0.8 | 0.9 | 1.2 | 2.0 | 1.4 | 1.5 | |
| P / Tangible Book | · | 0.5 | 0.6 | 0.6 | · | 0.7 | 0.7 | 0.7 | 0.7 | 0.8 | 0.8 | 0.9 | 1.2 | 2.0 | 1.4 | 1.5 | |
| P / Cash Flow | · | · | · | 85.2 | · | · | · | 139.8 | · | · | 126.1 | · | · | 166.5 | · | · | |
| Dividend Yield | · | 6.1% | · | · | · | 4.0% | 4.1% | 4.2% | 3.8% | 3.3% | 3.2% | 3.0% | 2.4% | 1.4% | 2.1% | 1.9% | |
| Earnings Yield | · | -4.3% | · | · | · | -1.9% | -1.4% | 0.37% | -2.0% | -1.9% | -2.8% | -1.8% | -1.3% | -0.80% | -1.6% | -1.5% | |
| Payout Ratio | · | · | · | 33.6% | · | · | · | 36.9% | · | · | 280.2% | · | · | 395.9% | · | · | |
| Annual Payout | · | $20M | · | · | · | $20M | $20M | $20M | $20M | $19M | $19M | $19M | $18M | $18M | $15M | $14M |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | $88M | $85M | $90M | $89M | $75M |
| Net Income | $14M | $13M | $15M | $5M | $3M |
| Diluted EPS | $-0.29 | $-0.29 | $-0.28 | $-0.43 | $-0.29 |
No data for this statement
Not enough fundamentals data to build this statement yet.
No data for this statement
Not enough fundamentals data to build this statement yet.
Institutional owners (13F) 197 filers · $180.1M total · As of Sept. 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
197
Value held
$180.1M
New positions
29
Exited positions
18
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 29 (+1 vs prior Q) | 18 (-9 vs prior Q) | 73 (-3 vs prior Q) | 45 (+7 vs prior Q) | +55K |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| VANGUARD GROUP INC | $31,613,827 | 3,455,063 | 17.55% | Shares |
| BlackRock, Inc. | $29,230,550 | 3,426,794 | 16.23% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $17,751,015 | 2,081,010 | 9.85% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $15,461,367 | 1,812,587 | 8.58% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $10,096,687 | 1,183,466 | 5.61% | Shares |
| STATE STREET CORP | $6,618,956 | 775,962 | 3.67% | Shares |
| TWO SIGMA INVESTMENTS, LP | $6,589,016 | 772,452 | 3.66% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $3,742,580 | 438,755 | 2.08% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $3,129,657 | 366,900 | 1.74% | Shares |
| NORTHERN TRUST CORP | $3,105,714 | 364,093 | 1.72% | Shares |
| NewEdge Advisors, LLC | $2,872,372 | 336,738 | 1.59% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $2,644,866 | 310,066 | 1.47% | Shares |
| PFG Investments, LLC | $2,638,470 | 309,317 | 1.46% | Shares |
| TWO SIGMA ADVISERS, LP | $2,615,070 | 285,800 | 1.45% | Shares |
| GOLDMAN SACHS GROUP INC | $2,299,655 | 269,596 | 1.28% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $2,252,773 | 264,100 | 1.25% | Shares |
| State of New Jersey Common Pension Fund D | $1,646,426 | 193,016 | 0.91% | Shares |
| MORGAN STANLEY | $1,632,872 | 191,426 | 0.91% | Shares |
| Quantinno Capital Management LP | $1,290,923 | 151,339 | 0.72% | Shares |
| MONECO ADVISORS, LLC | $1,153,930 | 135,279 | 0.64% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $1,147,285 | 134,500 | 0.64% | Call option |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $1,082,457 | 126,900 | 0.60% | Put option |
| SCHWARZ DYGOS WHEELER INVESTMENT ADVISORS LLC | $1,068,699 | 125,287 | 0.59% | Shares |
| LPL Financial LLC | $1,045,753 | 122,597 | 0.58% | Shares |
| Bank of New York Mellon Corp | $1,036,880 | 121,557 | 0.58% | Shares |
| Nuveen, LLC | $852,547 | 99,947 | 0.47% | Shares |
| MARSHALL WACE, LLP | $792,720 | 92,933 | 0.44% | Shares |
| Invesco Ltd. | $739,789 | 86,728 | 0.41% | Shares |
| Oakum Bay Capital LLC | $721,089 | 70,695 | 0.40% | Shares |
| JPMORGAN CHASE & CO | $666,328 | 77,390 | 0.37% | Shares |
| DEUTSCHE BANK AG\ | $622,016 | 72,921 | 0.35% | Shares |
| Cambria Investment Management, L.P. | $600,299 | 70,375 | 0.33% | Shares |
| Moors & Cabot, Inc. | $567,109 | 66,484 | 0.31% | Shares |
| Asset Management One Co., Ltd. | $540,478 | 52,988 | 0.30% | Shares |
| NOMURA ASSET MANAGEMENT CO LTD | $527,154 | 61,800 | 0.29% | Shares |
| OSAIC HOLDINGS, INC. | $520,777 | 61,052 | 0.29% | Shares |
| Focus Partners Wealth | $502,283 | 58,883 | 0.28% | Shares |
| North Star Investment Management Corp. | $494,740 | 58,000 | 0.27% | Shares |
| WELLS FARGO & COMPANY/MN | $481,395 | 56,436 | 0.27% | Shares |
| ALLIANCEBERNSTEIN L.P. | $452,676 | 44,380 | 0.25% | Shares |
| RHUMBLINE ADVISERS | $434,298 | 50,915 | 0.24% | Shares |
| Connor, Clark & Lunn Investment Management Ltd. | $428,701 | 50,258 | 0.24% | Shares |
| ROYAL BANK OF CANADA | $428,000 | 50,212 | 0.24% | Shares |
| AlphaQuest LLC | $426,655 | 46,629 | 0.24% | Shares |
| Engineers Gate Manager LP | $421,382 | 49,400 | 0.23% | Shares |
| Nebula Research & Development LLC | $394,220 | 38,763 | 0.22% | Shares |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO | $386,426 | 45,302 | 0.21% | Shares |
| EntryPoint Capital, LLC | $366,278 | 42,940 | 0.20% | Shares |
| Cetera Investment Advisers | $352,158 | 41,285 | 0.20% | Shares |
| BARCLAYS PLC | $343,332 | 40,250 | 0.19% | Shares |
Company insiders 14 insiders · 5 officers · 9 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| David Gladstone | CEO | Sept. 10, 2019 P | 2,298,585 | 0 | 0 | $0 |
| Lewis Parrish | CFO | March 16, 2020 P | 3,500 | 0 | 0 | $0 |
| Michael Licalsi | General Counsel and Secretary | March 16, 2020 P | 1,485 | 0 | 0 | $0 |
| Jay Beckhorn | Treasurer | May 11, 2018 P | 588 | 0 | 0 | $0 |
| John Dellafiora | Chief Compliance Officer | Dec. 15, 2015 P | 200 | 0 | 0 | $0 |
| Anthony W Parker | Director | March 13, 2025 S | 0 | 0 | 0 | $0 |
| Paula Novara | Director | Feb. 28, 2023 P | 560 | 0 | 0 | $0 |
| Caren D Merrick | Director | Oct. 18, 2021 W | 5,432 | 0 | 0 | $0 |
| Michela A English | Director | March 17, 2020 S | 845 | 0 | 0 | $0 |
| Paul W Adelgren | Director | Feb. 24, 2020 P | 12,926 | 0 | 0 | $0 |
| Walter H Wilkinson | Director | Feb. 23, 2018 P | 9,791 | 0 | 0 | $0 |
| Terry Earhart | Director | Jan. 31, 2013 P | 2,000 | 0 | 0 | $0 |
| John Reilly | Director | Jan. 31, 2013 P | 1,000 | 0 | 0 | $0 |
| John H Outland | · | Jan. 31, 2013 P | 1,500 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 58 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| PBD · Invesco Exchange-Traded Fund Trust … | 0.99% | 18,908 SH | Oct. 2, 2026 | Daily |
| IFGL · iShares Trust | 0.93% | 85,789 SH | Sept. 11, 2026 | Daily |
| BLDG · Cambria ETF Trust | 0.85% | 70,375 NS | July 31, 2026 | N-PORT |
| VNQI · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.61% | 2,684,415 SH | Aug. 19, 2026 | Daily |
| EFRA · iShares Trust | 0.42% | 400 SH | Sept. 11, 2026 | Daily |
| ERET · iShares Trust | 0.36% | 5,659 SH | Sept. 11, 2026 | Daily |
| REET · iShares Trust | 0.36% | 2,027,583 SH | Sept. 11, 2026 | Daily |
| ISCF · iShares Trust | 0.34% | 238,784 SH | Sept. 11, 2026 | Daily |
| EWU · iShares Trust | 0.20% | 855,079 SH | Sept. 11, 2026 | Daily |
| INTF · iShares Trust | 0.17% | 754,663 SH | Sept. 11, 2026 | Daily |
| PABD · iShares Trust | 0.17% | 65,593 SH | Sept. 11, 2026 | Daily |
| ESGD · iShares Trust | 0.13% | 1,810,338 SH | Sept. 11, 2026 | Daily |
| SDG · iShares Trust | 0.11% | 20,840 SH | Sept. 11, 2026 | Daily |
| PDN · Invesco Exchange-Traded Fund Trust … | 0.09% | 5,409 SH | Oct. 2, 2026 | Daily |
| IWC · iShares Trust | 0.09% | 139,438 SH | Sept. 11, 2026 | Daily |
| JPSE · J.P. Morgan Exchange-Traded Fund Tr… | 0.08% | 60,861 NS | July 31, 2026 | N-PORT |
| IEUS · iShares Trust | 0.08% | 2,548 SH | Sept. 11, 2026 | Daily |
| PFF · iShares Trust | 0.06% | 365,594 SH | Sept. 11, 2026 | Daily |
| EFV · iShares Trust | 0.06% | 2,086,834 SH | Sept. 11, 2026 | Daily |
| DMXF · iShares Trust | 0.05% | 58,794 SH | Sept. 11, 2026 | Daily |
| VGK · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.05% | 1,843,951 SH | Aug. 19, 2026 | Daily |
| IEUR · iShares Trust | 0.05% | 428,975 SH | Sept. 11, 2026 | Daily |
| IQLT · iShares Trust | 0.05% | 805,791 SH | Sept. 11, 2026 | Daily |
| IEV · iShares Trust | 0.04% | 84,871 SH | Sept. 11, 2026 | Daily |
| VSS · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.04% | 99,215 SH | Aug. 19, 2026 | Daily |
| SCZ · iShares Trust | 0.04% | 84,085 SH | Sept. 11, 2026 | Daily |
| USRT · iShares Trust | 0.03% | 152,807 SH | Sept. 11, 2026 | Daily |
| PXF · Invesco Exchange-Traded Fund Trust … | 0.03% | 116,435 | Oct. 2, 2026 | Daily |
| IEFA · iShares Trust | 0.03% | 5,395,906 SH | Sept. 11, 2026 | Daily |
| EFA · iShares Trust | 0.03% | 2,462,467 SH | Sept. 11, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.02% | 65,598 | Oct. 2, 2026 | Daily |
| IDEV · iShares Trust | 0.02% | 699,976 SH | Sept. 11, 2026 | Daily |
| VNQ · VANGUARD SPECIALIZED FUNDS | 0.02% | 1,516,152 SH | Aug. 19, 2026 | Daily |
| VEU · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.02% | 1,730,834 SH | Aug. 19, 2026 | Daily |
| VEA · VANGUARD TAX-MANAGED FUNDS | 0.02% | 7,498,312 SH | Aug. 19, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.02% | 35,380 SH | Aug. 19, 2026 | Daily |
| VSGX · VANGUARD WORLD FUND | 0.02% | 161,449 SH | Aug. 19, 2026 | Daily |
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.02% | 4,960 | Oct. 2, 2026 | Daily |
| IMFL · Invesco Exchange-Traded Self-Indexe… | 0.02% | 22,302 | Oct. 2, 2026 | Daily |
| IXUS · iShares Trust | 0.02% | 903,524 SH | Sept. 11, 2026 | Daily |
| ACWX · iShares Trust | 0.02% | 232,482 SH | Sept. 11, 2026 | Daily |
| WSML · iShares Trust | 0.01% | 1,537 SH | Sept. 10, 2026 | Daily |
| IWM · iShares Trust | 0.01% | 1,050,537 SH | Sept. 11, 2026 | Daily |
| CRBN · iShares Trust | 0.01% | 15,081 SH | Sept. 11, 2026 | Daily |
| RSSL · Global X Funds | 0.01% | 19,392 NS | July 31, 2026 | N-PORT |
| VXUS · VANGUARD STAR FUNDS | 0.01% | 11,522,772 SH | Aug. 19, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.01% | 233,783 SH | Aug. 19, 2026 | Daily |
| TOK · iShares Trust | 0.01% | 2,077 SH | Sept. 11, 2026 | Daily |
| ACWI · iShares Trust | 0.01% | 261,461 SH | Sept. 11, 2026 | Daily |
| URTH · iShares, Inc. | 0.01% | 57,047 SH | Sept. 11, 2026 | Daily |
| PFM · Invesco Exchange-Traded Fund Trust | 0.00% | 1,228 | Sept. 21, 2026 | Daily |
| ITOT · iShares Trust | 0.00% | 57,985 SH | Sept. 11, 2026 | Daily |
| IWV · iShares Trust | 0.00% | 9,514 SH | Sept. 9, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.00% | 471,066 SH | Aug. 19, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 1,302,220 SH | Aug. 19, 2026 | Daily |
| VT · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.00% | 573,346 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 2,771 SH | Aug. 19, 2026 | Daily |
| IWN · iShares Trust | · | 380,495 SH | Sept. 11, 2026 | Daily |
LAND Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 12 analysts
BUY
Median target
$9.00
-5.9%
2 16.7%
Strong Buy
4 33.3%
Buy
6 50.0%
Hold
0 0.0%
Sell
0 0.0%
Strong Sell
12-Month Price Target
3 analysts · 2026-10-02Mean target $9.33 -2.4%
Now
Current price $9.56
Low$8.50
Mean$9.33
High$10.50
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
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Source: SEC 10-K/A filed Apr 7, 2026