Limoneira's recent growth spurt, which was somewhat unexpected to me, has increased total owned acreage to nearly 8,300, and total owned or managed acres to more than 10,000. If you want exposure to lemons, this is the company. Limoneira also has an interesting relationship with avocado company Calavo Growers ( CVGW), owning about 3.4% of that company's outstanding shares. In turn, Calavo owns about 15% of Limoneira's outstanding shares. CVGW data by YCharts Limoneira does certainly not appear to be cheap at 56 times trailing earnings and 57 times the 2014 consensus earnings estimate, but this is not your typical company. It is an asset play, but one that may begin to show better earnings if recent acquisitions bear fruit (pun intended). At the time of publication the author was long LMNR.Follow @JonMHellerCFAThis article was written by an independent contributor, separate from TheStreet's regular news coverage.