NEW YORK ( TheStreet) -- German philosopher G.W.F. Hegel opined, "Property is the first embodiment of freedom." Most would wholeheartedly agree.Recently, I was reading an article in the Oct. 8 edition of Fortune magazine and discovered who is America's number 1 owner of private land. Care to guess who that would be? My guess would have been Ted Turner but, alas, he is now #2. The top spot, the largest private landowner in this country, is John Malone. According to The Land Report magazine, Malone owns an estimated 2.2 million acres of U.S. of woodlands, ranch land and cropland. TWX) . In 199 Malone sold TCI to AT&T ( T) for $48 billion. BX).
Over the next couple of years I anticipate the free cash flow increasing significantly along with their earnings-per-share (EPS). It's notable that the stock is trading at seven times forward earnings (one-year) and that the company is able to pay a 2.7% dividend. Increasing EPS and operating cash flow will be essential to sustaining and growing the dividend.