List of Publicly Traded Farmland REITs
Farmland is an essential asset class currently delivering 11.4% annualized returns via the NCREIF index. Explore the dominant pure-play REITs managing over 270,000 combined acres across high-value row and permanent crops.
The List of Publicly Traded Farmland REITs offers investors a rare opportunity to access institutional-quality agricultural land with daily liquidity. While the broader List of Agriculture Companies includes equipment and seed giants, these specific Real Estate Investment Trusts focus on the underlying land value and rental yields. The market is currently a duopoly, where leaders provide exposure to everything from California nut orchards to Midwestern corn belts. With occupancy rates consistently above 90%, these REITs serve as a powerful inflation hedge and a play on long-term global food security. This guide breaks down the core metrics of the only pure-play vehicles listed on U.S. exchanges.
Key Takeaways
Farmland Partners (FPI) and Gladstone Land (LAND) remain the only two pure-play farmland REITs listed in the U.S., collectively managing 273,000 acres.
Investors can choose between FPI's focus on diversified row crops and LAND's 70% concentration in high-value permanent crops like berries and nuts.
Unlike many equities, these REITs often provide monthly or stable quarterly distributions, with current yields ranging from 4.5% to 6.2%.
Senior water rights, particularly in West Coast holdings, provide a significant valuation buffer against drought risks. Compare these in the Farmland Industry Comparison Widget.
Top List of Publicly Traded Farmland REITs by Market Cap (2026)
The following table compares the key operational and financial metrics for the primary farmland investment vehicles available to public investors.
| Rank | Ticker | Company | Acres Owned | Market Cap | Crops | FFO/Share | Div Yield |
|---|---|---|---|---|---|---|---|
| 1 | FPI | Farmland Partners (FPI 160k acres) | ~160,000 | $512.0M | 26 Types | $0.40 - 0.55 | 5.2% |
| 2 | LAND | Gladstone Land (LAND 113k acres) | ~113,000 | $338.0M | 15+ Types | $0.65 - 0.80 | 6.1% |
| 3 | ALCO | Alico, Inc. | ~84,000 | $210.0M | Citrus Focus | N/A (Agri-Hybrid) | 4.8% |
| 4 | TPL | Texas Pacific Land | ~900,000 | $15.2B | Grazing/Oil | N/A (Royalty) | 0.8% |
List of Publicly Traded Farmland REITs — Complete Company List
List of Publicly Traded Farmland REITs Listed on Major U.S. Exchanges
Farmland: Small-Cap Stocks
Farmland: Micro-Cap Stocks
Risks & Considerations
Interest Rate Sensitivity
Like all REITs, farmland stocks are sensitive to interest rate hikes, which can increase borrowing costs for land acquisitions and make yields less competitive vs. bonds.
Climate & Water Scarcity
Drought conditions, particularly on the West Coast, can impact permanent crop productivity. Senior water rights provide a hedge but do not eliminate the risk of rising irrigation costs.
Commodity Price Volatility
While REITs collect rent, the financial health of their farmer-tenants is tied to soy, corn, and nut pricing. Sustained low commodity prices can increase tenant churn and vacancy risk.
Concentration Risk
Because there are only two primary pure-play farmland REITs, investors face limited diversification options and high exposure to the specific management strategies of FPI and LAND.