Gladstone Land Corporation (LAND) vs Global Self Storage, Inc. (SELF)

Gladstone Land Corporation and Global Self Storage, Inc. are both Reit Specialty companies. Gladstone Land Corporation is the larger, with a market value of $409.4M against $57.7M — 7.1× the size. Gladstone Land Corporation has negative trailing earnings, so its P/E is not meaningful; Global Self Storage, Inc. trades at 28.1×. Gladstone Land Corporation grew revenue faster over the last twelve months: 21.6% against 0.51%. Global Self Storage, Inc. has the higher net margin (16.6% vs −33.0%) and the higher return on invested capital (4.30% vs 0.67%). Both pay a dividend; Global Self Storage, Inc. yields more (6.70% vs 4.08%). Across the 22 metrics below, Global Self Storage, Inc. leads on 13 and Gladstone Land Corporation on 9.

Valuation

Metric LAND SELF Reit Specialty median
P/E n/m 28.06 26.27
P/S 4.60 4.44 5.86
P/B 0.60 1.22 2.19
Price to free cash flow 7.52 14.62 14.62
EV/EBITDA 14.94 14.91 16.22
EV/Sales 9.84 5.18 8.93
Earnings yield (5.80%) 3.56% 3.43%
Free cash flow yield 13.30% 6.84% 5.37%

Profitability

Metric LAND SELF Reit Specialty median
Gross margin 82.50% 60.22% 67.43%
Operating margin 13.84% 20.94% 21.38%
Net margin (33.02%) 16.64% 16.14%
Free cash flow margin 61.13% 30.37% 31.07%
Return on equity (4.35%) 4.54% 4.76%
Return on assets (2.38%) 3.30% 3.29%
Return on invested capital 0.67% 4.30% 4.19%

Growth

Metric LAND SELF Reit Specialty median
Revenue growth (TTM) 21.60% 0.51% 5.36%
EPS growth (last fiscal year) 0.00% (5.26%) —
Revenue growth, 5-year CAGR 9.15% 6.68% 6.70%
Net income growth, 5-year CAGR 0.00% 49.35% 0.00%

Health

Metric LAND SELF Reit Specialty median
Debt to equity 0.72 0.00 0.62
Current ratio 1.29 0.44 0.70
Net debt to EBITDA 6.65 (1.59) 4.47

Dividend

Metric LAND SELF Reit Specialty median
Dividend yield 4.08% 6.70% 3.88%
Payout ratio — 1.07 1.14

Size

Metric LAND SELF Reit Specialty median
Market cap 409.37m 57.68m 8.48b

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