LAND
Gladstone Land Corporation
REIT - Industrial
Market Cap$355M
5Y Perf.-32.5%
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Stock Comparison
LAND vs FPI vs ILPT
Revenue, margins, valuation, and 5-year total return — side by side.
FPI
Farmland Partners Inc.
REIT - Specialty
Market Cap$466M
5Y Perf.+54.8%
ILPT
Industrial Logistics Properties Trust
REIT - Industrial
Market Cap$524M
5Y Perf.-58.1%
LAND vs FPI vs ILPT — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | LAND | FPI | ILPT |
|---|---|---|---|
| Industry | REIT - Industrial | REIT - Specialty | REIT - Industrial |
| Market Cap | $355M | $466M | $524M |
| Revenue (TTM) | $76M | $54M | $453M |
| Net Income (TTM) | $-10M | $30M | $-54M |
| Gross Margin | 87.4% | 78.7% | 10.9% |
| Operating Margin | 78.6% | 45.6% | 33.1% |
| Forward P/E | — | 50.1x | — |
| Total Debt | $0.00 | $161M | $4.22B |
| Cash & Equiv. | $27M | $9M | $183M |
LAND vs FPI vs ILPT — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
LAND
FPI
ILPT
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| Gladstone Land Corp… (LAND) | 100 | 67.5 | -32.5% |
| Farmland Partners I… (FPI) | 100 | 154.8 | +54.8% |
| Industrial Logistic… (ILPT) | 100 | 41.9 | -58.1% |
Price return only. Dividends and distributions are not included.
Quick Verdict: LAND vs FPI vs ILPT
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: FPI leads in 4 of 7 categories, making it the strongest pick for profitability and margin quality and capital preservation and lower volatility. Industrial Logistics Properties Trust is the stronger pick specifically for growth and revenue expansion and valuation and capital efficiency. As sector peers, any of these can serve as alternatives in the same allocation.
LAND
Gladstone Land Corporation
The Real Estate Income Play
LAND is the clearest fit if your priority is long-term compounding.
- 43.2% 10Y total return vs FPI's 33.2%
Best for: long-term compounding
FPI
Farmland Partners Inc.
The Real Estate Income Play
FPI carries the broadest edge in this set and is the clearest fit for income & stability and sleep-well-at-night.
- Dividend streak 2 yrs, beta 0.56, yield 11.6%
- Lower volatility, beta 0.56, Low D/E 30.0%, current ratio 537.08x
- Beta 0.56, yield 11.6%, current ratio 537.08x
Best for: income & stability and sleep-well-at-night
ILPT
Industrial Logistics Properties Trust
The Real Estate Income Play
ILPT is the clearest fit if your priority is growth exposure.
- Rev growth 1.5%, EPS growth 31.5%, 3Y rev CAGR 5.0%
- 1.5% FFO/revenue growth vs LAND's -10.7%
- Better valuation composite
Best for: growth exposure
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | ILPT | 1.5% FFO/revenue growth vs LAND's -10.7% |
| Value | ILPT | Better valuation composite |
| Quality / Margins | FPI | 56.0% margin vs LAND's -13.8% |
| Stability / Safety | FPI | Beta 0.56 vs ILPT's 1.62, lower leverage |
| Dividends | FPI | 11.6% yield, 2-year raise streak, vs LAND's 6.7% |
| Momentum (1Y) | ILPT | +179.9% vs FPI's +9.2% |
| Efficiency (ROA) | FPI | 4.1% ROA vs ILPT's -1.0%, ROIC 2.4% vs 2.2% |
LAND vs FPI vs ILPT — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Segment breakdown not available.
FY 2025
Segment breakdown not available.
LAND vs FPI vs ILPT — Financial Metrics
Side-by-side numbers across 3 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLLANDLAGGINGILPT
ILPTIndustrial Logistics …
1leads
FPIFarmland Partners Inc.
1leads
LANDGladstone Land Corpor…
2leads
6 Total Categories
CATEGORYLEADERvs FPIvs ILPTMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
LAND4/6
Valuation MetricsMultiples, price ratios, and targets
LAND3/5
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
FPI5/9
Total Returns1Y, 3Y, 5Y total returns with dividends
ILPT4/6
Risk & VolatilityBeta, volatility, and downside exposure
Tied
—
Analyst OutlookRatings, price targets, and dividends
Tied
—
Income & Cash Flow (Last 12 Months)
LAND leads this category, winning 4 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
ILPT is the larger business by revenue, generating $453M annually — 8.4x FPI's $54M. FPI is the more profitable business, keeping 56.0% of every revenue dollar as net income compared to LAND's -13.8%. On growth, LAND holds the edge at +38.6% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | LANDGladstone Land Co… | FPIFarmland Partners… | ILPTIndustrial Logist… |
|---|---|---|---|
| RevenueTrailing 12 months | $76M | $54M | $453M |
| EBITDAEarnings before interest/tax | $94M | $28M | $306M |
| Net IncomeAfter-tax profit | -$10M | $30M | -$54M |
| Free Cash FlowCash after capex | $5M | $19M | $65M |
| Gross MarginGross profit ÷ Revenue | +87.4% | +78.7% | +10.9% |
| Operating MarginEBIT ÷ Revenue | +78.6% | +45.6% | +33.1% |
| Net MarginNet income ÷ Revenue | -13.8% | +56.0% | -11.9% |
| FCF MarginFCF ÷ Revenue | +6.2% | +35.9% | +14.4% |
| Rev. Growth (YoY)Latest quarter vs prior year | +38.6% | -1.5% | +4.0% |
| EPS Growth (YoY)Latest quarter vs prior year | +66.7% | -64.2% | +57.6% |
LAND leads this category, winning 4 of 6 comparable metrics.
Valuation Metrics
LAND leads this category, winning 3 of 5 comparable metrics.
Valuation Metrics
On an enterprise value basis, LAND's 3.5x EV/EBITDA is more attractive than FPI's 22.7x.
| Metric | LANDGladstone Land Co… | FPIFarmland Partners… | ILPTIndustrial Logist… |
|---|---|---|---|
| Market CapShares × price | $355M | $466M | $524M |
| Enterprise ValueMkt cap + debt − cash | $328M | $618M | $4.6B |
| Trailing P/EPrice ÷ TTM EPS | -33.76x | 17.23x | -7.86x |
| Forward P/EPrice ÷ next-FY EPS est. | — | 50.07x | — |
| PEG RatioP/E ÷ EPS growth rate | — | — | — |
| EV / EBITDAEnterprise value multiple | 3.48x | 22.70x | 14.58x |
| Price / SalesMarket cap ÷ Revenue | 4.67x | 8.93x | 1.17x |
| Price / BookPrice ÷ Book value/share | 0.53x | 1.02x | 0.58x |
| Price / FCFMarket cap ÷ FCF | 50.83x | 26.74x | 8.64x |
LAND leads this category, winning 3 of 5 comparable metrics.
Profitability & Efficiency
FPI leads this category, winning 5 of 9 comparable metrics.
Profitability & Efficiency
FPI delivers a 5.7% return on equity — every $100 of shareholder capital generates $6 in annual profit, vs $-6 for ILPT. FPI carries lower financial leverage with a 0.30x debt-to-equity ratio, signaling a more conservative balance sheet compared to ILPT's 4.69x. On the Piotroski fundamental quality scale (0–9), FPI scores 6/9 vs LAND's 2/9, reflecting solid financial health.
| Metric | LANDGladstone Land Co… | FPIFarmland Partners… | ILPTIndustrial Logist… |
|---|---|---|---|
| ROE (TTM)Return on equity | -1.6% | +5.7% | -5.9% |
| ROA (TTM)Return on assets | -0.8% | +4.1% | -1.0% |
| ROICReturn on invested capital | +4.9% | +2.4% | +2.2% |
| ROCEReturn on capital employed | +4.7% | +3.0% | +3.3% |
| Piotroski ScoreFundamental quality 0–9 | 2 | 6 | 4 |
| Debt / EquityFinancial leverage | — | 0.30x | 4.69x |
| Net DebtTotal debt minus cash | -$27M | $152M | $4.0B |
| Cash & Equiv.Liquid assets | $27M | $9M | $183M |
| Total DebtShort + long-term debt | $0 | $161M | $4.2B |
| Interest CoverageEBIT ÷ Interest expense | 2.99x | 4.34x | 0.61x |
FPI leads this category, winning 5 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
ILPT leads this category, winning 4 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in FPI five years ago would be worth $9,699 today (with dividends reinvested), compared to $3,811 for ILPT. Over the past 12 months, ILPT leads with a +179.9% total return vs FPI's +9.2%. The 3-year compound annual growth rate (CAGR) favors ILPT at 61.8% vs LAND's -10.1% — a key indicator of consistent wealth creation.
| Metric | LANDGladstone Land Co… | FPIFarmland Partners… | ILPTIndustrial Logist… |
|---|---|---|---|
| YTD ReturnYear-to-date | +9.3% | +12.0% | +43.9% |
| 1-Year ReturnPast 12 months | +10.3% | +9.2% | +179.9% |
| 3-Year ReturnCumulative with dividends | -27.3% | +19.9% | +324.0% |
| 5-Year ReturnCumulative with dividends | -41.5% | -3.0% | -61.9% |
| 10-Year ReturnCumulative with dividends | +43.2% | +33.2% | -41.2% |
| CAGR (3Y)Annualised 3-year return | -10.1% | +6.2% | +61.8% |
ILPT leads this category, winning 4 of 6 comparable metrics.
Risk & Volatility
Evenly matched — FPI and ILPT each lead in 1 of 2 comparable metrics.
Risk & Volatility
FPI is the less volatile stock with a 0.56 beta — it tends to amplify market swings less than ILPT's 1.62 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. ILPT currently trades 96.0% from its 52-week high vs LAND's 75.3% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | LANDGladstone Land Co… | FPIFarmland Partners… | ILPTIndustrial Logist… |
|---|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.68x | 0.56x | 1.62x |
| 52-Week HighHighest price in past year | $13.00 | $13.23 | $8.19 |
| 52-Week LowLowest price in past year | $8.47 | $9.37 | $2.77 |
| % of 52W HighCurrent price vs 52-week peak | +75.3% | +80.7% | +96.0% |
| RSI (14)Momentum oscillator 0–100 | 35.8 | 29.2 | 66.1 |
| Avg Volume (50D)Average daily shares traded | 570K | 408K | 310K |
Evenly matched — FPI and ILPT each lead in 1 of 2 comparable metrics.
Analyst Outlook
Evenly matched — LAND and FPI each lead in 1 of 2 comparable metrics.
Analyst Outlook
Analyst consensus: LAND as "Buy", FPI as "Hold", ILPT as "Buy". Consensus price targets imply 59.2% upside for FPI (target: $17) vs -5.9% for ILPT (target: $7). For income investors, FPI offers the higher dividend yield at 11.64% vs ILPT's 1.54%.
| Metric | LANDGladstone Land Co… | FPIFarmland Partners… | ILPTIndustrial Logist… |
|---|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Hold | Buy |
| Price TargetConsensus 12-month target | $10.00 | $17.00 | $7.40 |
| # AnalystsCovering analysts | 11 | 15 | 9 |
| Dividend YieldAnnual dividend ÷ price | +6.7% | +11.6% | +1.5% |
| Dividend StreakConsecutive years of raises | 6 | 2 | 2 |
| Dividend / ShareAnnual DPS | $0.66 | $1.24 | $0.12 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +8.2% | +0.1% |
Evenly matched — LAND and FPI each lead in 1 of 2 comparable metrics.
Key Takeaway
LAND leads in 2 of 6 categories (Income & Cash Flow, Valuation Metrics). FPI leads in 1 (Profitability & Efficiency). 2 tied.
Best OverallGladstone Land Corporation (LAND)Leads 2 of 6 categories
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LAND vs FPI vs ILPT: Key Questions Answered
9 questions · data-driven answers · updated daily
01Is LAND or FPI or ILPT a better buy right now?
For growth investors, Industrial Logistics Properties Trust (ILPT) is the stronger pick with 1.
5% revenue growth year-over-year, versus -10. 7% for Gladstone Land Corporation (LAND). Farmland Partners Inc. (FPI) offers the better valuation at 17. 2x trailing P/E (50. 1x forward), making it the more compelling value choice. Analysts rate Gladstone Land Corporation (LAND) a "Buy" — based on 11 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which is the better long-term investment — LAND or FPI or ILPT?
Over the past 5 years, Farmland Partners Inc.
(FPI) delivered a total return of -3. 0%, compared to -61. 9% for Industrial Logistics Properties Trust (ILPT). Over 10 years, the gap is even starker: LAND returned +43. 2% versus ILPT's -41. 2%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
03Which is safer — LAND or FPI or ILPT?
By beta (market sensitivity over 5 years), Farmland Partners Inc.
(FPI) is the lower-risk stock at 0. 56β versus Industrial Logistics Properties Trust's 1. 62β — meaning ILPT is approximately 190% more volatile than FPI relative to the S&P 500. On balance sheet safety, Farmland Partners Inc. (FPI) carries a lower debt/equity ratio of 30% versus 5% for Industrial Logistics Properties Trust — giving it more financial flexibility in a downturn.
04Which is growing faster — LAND or FPI or ILPT?
By revenue growth (latest reported year), Industrial Logistics Properties Trust (ILPT) is pulling ahead at 1.
5% versus -10. 7% for Gladstone Land Corporation (LAND). On earnings-per-share growth, the picture is similar: Industrial Logistics Properties Trust grew EPS 31. 5% year-over-year, compared to -41. 5% for Farmland Partners Inc.. Over a 3-year CAGR, ILPT leads at 5. 0% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
05Which has better profit margins — LAND or FPI or ILPT?
Farmland Partners Inc.
(FPI) is the more profitable company, earning 60. 5% net margin versus -14. 7% for Industrial Logistics Properties Trust — meaning it keeps 60. 5% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: LAND leads at 78. 6% versus 33. 0% for ILPT. At the gross margin level — before operating expenses — LAND leads at 87. 4%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is LAND or FPI or ILPT more undervalued right now?
Analyst consensus price targets imply the most upside for FPI: 59.
2% to $17. 00.
07Which pays a better dividend — LAND or FPI or ILPT?
All stocks in this comparison pay dividends.
Farmland Partners Inc. (FPI) offers the highest yield at 11. 6%, versus 1. 5% for Industrial Logistics Properties Trust (ILPT).
08Is LAND or FPI or ILPT better for a retirement portfolio?
For long-horizon retirement investors, Farmland Partners Inc.
(FPI) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 56), 11. 6% yield). Industrial Logistics Properties Trust (ILPT) carries a higher beta of 1. 62 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (FPI: +33. 2%, ILPT: -41. 2%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between LAND and FPI and ILPT?
Both stocks operate in the Real Estate sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
In terms of investment character: LAND is a small-cap income-oriented stock; FPI is a small-cap deep-value stock; ILPT is a small-cap quality compounder stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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