Stephen Simpson, CFA
Long only, growth at reasonable price, value, research analyst

Limoneira An Under-Followed Growth Story In The Making

Large-scale agriculture is a different sort of business, and that's not just because so much depends on the weather (in your area and in competitive growing regions) and other uncontrollable factors. Not unlike timber companies like Plum Creek (NYSE:PCL) and Weyerhaeuser (NYSE:WY) or Brazilian agriculture companies like SLC Agricola (OTCPK:SLCJY) and Adecoagro (NYSE:AGRO), value is created both above the ground (growing/harvesting crops and maximizing productivity) and with the ground through selective sales and real estate development.

Real estate figures prominently in the Limoneira (NASDAQ:LMNR) story. This company is already a major U.S. grower of lemons and avocados, but if the company's plans work out it will leverage the sale of...

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