TRADE ALERT - Retirement Portfolio July 2025

Dear Landlords,

I want to extend a warm welcome to all our new members!

As a reminder, our most recent "Portfolio Review" was shared with the members of High Yield Landlord on July 7th, 2025. You can read it by clicking here.

You can also access our three portfolios on Google Sheets:

New members can start researching positions marked as Strong Buy and Buy while considering the corresponding risk ratings.

============================

TRADE ALERT - Retirement Portfolio July 2025

Gladstone Land (LAND) just announced a new buyback plan to repurchase some of its preferred equity.

This strongly validates our thesis that its Series C preferred stock (LANDP) is today undervalued, trading at a 20%+ discount to its par value and offering a near 8% dividend yield.

Here is what the management said about it:

"After a thorough analysis and in consultation with our board of directors, we are announcing another share repurchase authorization as part of a capital allocation strategy that we believe is in the best interest of our shareholders and our business. We believe that the current market conditions provide an attractive buying opportunity for our preferred stock and that using capital to repurchase our preferred shares at appropriate prices represents a favorable strategic use of capital," said David Gladstone, President of the Company.

We think that this buyback plan only makes the risk-to-reward even more attractive as it could mark a bottom in the share price. Its preferred stock is quite illiquid, and the management now plans to use $55 million to invest in it, which should support its share price and potentially even push it higher.

The last time they announced a similar buyback plan, its share price surged to over $22 per share, and we could now rapidly get back to that level as the company executes this buyback plan.