Because these ownerships tend to go from generation on generation as well. I can trace certain portions of land back over 350 years ago (because of the farms on top). They are also highly iliquid and unfortunately the revenue is rather low.

Annually there is a meeting where I am a small potato, there is a baron who (iirc) owns 300 hectare. When we the small guys asked about "what about return on investment" his wife kind of was flabbergasted why we would expect that.

But same time, it's a very steady investment and the relation between us and the farmers are rather good I would say. Because as ownership goes through generations, so do the leases.