Gladstone Land (NASDAQ:LAND) had its price target lifted by LADENBURG THALM/SH SH from $15.50 to $16.50 in a research note released on Monday, The Fly reports. LADENBURG THALM/SH SH currently has a buy rating on the real estate investment trust’s stock.
Several other research analysts have also recently issued reports on the stock. B. Riley lifted their target price on shares of Gladstone Land from $16.00 to $17.50 in a report on Wednesday, June 10th. Maxim Group reaffirmed a buy rating and issued a $20.00 target price on shares of Gladstone Land in a report on Friday, August 7th. Zacks Investment Research lowered shares of Gladstone Land from a buy rating to a hold rating in a research note on Wednesday, August 12th. Finally, BidaskClub lowered shares of Gladstone Land from a hold rating to a sell rating in a research note on Friday, August 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $16.48.
Shares of NASDAQ LAND opened at $15.69 on Monday. Gladstone Land has a 1 year low of $9.61 and a 1 year high of $16.76. The stock has a market cap of $345.54 million, a P/E ratio of -142.64 and a beta of 0.69. The firm has a 50-day moving average of $15.72 and a 200 day moving average of $14.34. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.99 and a quick ratio of 1.99.
Gladstone Land (NASDAQ:LAND) last issued its earnings results on Wednesday, August 5th. The real estate investment trust reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.22). Gladstone Land had a return on equity of 1.66% and a net margin of 9.09%. Research analysts expect that Gladstone Land will post 0.68 earnings per share for the current fiscal year.
The business also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 23rd will be paid a $0.0448 dividend. The ex-dividend date is Tuesday, September 22nd. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.43%. Gladstone Land’s dividend payout ratio is presently 94.74%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp grew its position in Gladstone Land by 6.1% during the first quarter. State Street Corp now owns 362,226 shares of the real estate investment trust’s stock valued at $4,292,000 after buying an additional 20,777 shares during the period. Two Sigma Advisers LP grew its position in Gladstone Land by 109.6% during the first quarter. Two Sigma Advisers LP now owns 97,900 shares of the real estate investment trust’s stock valued at $1,160,000 after buying an additional 51,200 shares during the period. Geode Capital Management LLC grew its position in Gladstone Land by 6.7% during the first quarter. Geode Capital Management LLC now owns 279,695 shares of the real estate investment trust’s stock valued at $3,314,000 after buying an additional 17,527 shares during the period. Baird Financial Group Inc. bought a new stake in Gladstone Land during the first quarter valued at approximately $214,000. Finally, BNP Paribas Arbitrage SA grew its position in Gladstone Land by 28.4% during the first quarter. BNP Paribas Arbitrage SA now owns 5,691 shares of the real estate investment trust’s stock valued at $67,000 after buying an additional 1,260 shares during the period. Institutional investors own 38.95% of the company’s stock.
About Gladstone Land
Gladstone Land is a publicly-traded real estate investment trust that invests in farmland and farm-related properties located in major agricultural markets in the U.S., which it leases to unrelated third-party farmer-tenants. The Company reports the current fair value of its farmland on a quarterly basis; as of December 31, 2018, its estimated net asset value was $12.88 per share.
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