Farmland is the oldest income-producing real estate on earth and the newest REIT category: near-zero vacancy in any year, decades of appreciation, direct inflation linkage, and exactly two public pure plays, graded below with their very different risk profiles.
| # | REIT | Grade | Yield | Market Cap | Occupancy | Credit |
|---|---|---|---|---|---|---|
| 1 | Farmland Partners (FPI) | C 62 | 5.18% | $421M | — | — |
| 2 | Gladstone Land (LAND) | C 55 | 6.51% | $374M | — | — |
Grades follow the published REIT Rankings methodology. Yields and market caps update automatically with market data.
How to Read This Ranking
Farmland Partners (62) owns row-crop acreage, corn and soybean dirt with fast-repricing leases, and has spent years proving its NAV by selling farms above book and returning the proceeds, activist behavior from the inside. Gladstone Land (55) owns permanent crops, orchards and berry farms whose higher rents come packaged with California water regulation (SGMA), nut-price tenant stress, and the thinnest dividend coverage on this page, a monthly payout earned the hard way. The sector’s paradox: the safest collateral in real estate wrapped in the smallest, least liquid REIT structures.