Credit Rating For The Unrated REITs (Part 11): Gladstone Land Corporation

  • Gladstone Land owns a diversified portfolio of U.S. farmland with long-term leases, offering stable cash flows and inflation protection. Despite attractive yields on its preferred stocks, LAND's high debt-to-EBITDA, low fixed charge coverage, and limited unencumbered assets are concerning. Applying Moody's methodology, LAND scores a market-adjusted B2 credit rating, reflecting significant credit risk for investors.