Gladstone Land Co. (NASDAQ:LAND) Receives $16.00 Average Price Target from Brokerages

Shares of Gladstone Land Co. (NASDAQ:LAND) have been given a consensus recommendation of “Moderate Buy” by the four brokerages that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $16.00.

Several brokerages recently weighed in on LAND. Alliance Global Partners began coverage on Gladstone Land in a research note on Tuesday, June 11th. They issued a “buy” rating and a $16.00 price target on the stock. Oppenheimer reduced their price target on Gladstone Land from $20.00 to $16.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 15th. Finally, Maxim Group reduced their price target on Gladstone Land from $19.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th.

Gladstone Land Price Performance

Shares of LAND stock opened at $13.38 on Tuesday. The stock has a market cap of $479.51 million, a price-to-earnings ratio of 223.00, a PEG ratio of 3.76 and a beta of 1.03. The business’s fifty day moving average is $13.12 and its 200 day moving average is $13.51. Gladstone Land has a twelve month low of $12.31 and a twelve month high of $17.44. The company has a quick ratio of 6.14, a current ratio of 6.14 and a debt-to-equity ratio of 0.76.

Gladstone Land Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, June 28th. Shareholders of record on Wednesday, June 19th will be issued a $0.0466 dividend. This represents a $0.56 annualized dividend and a yield of 4.18%. The ex-dividend date of this dividend is Tuesday, June 18th. Gladstone Land’s dividend payout ratio (DPR) is 916.67%.

Institutional Investors Weigh In On Gladstone Land

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Gladstone Land by 0.6% in the third quarter. Vanguard Group Inc. now owns 3,475,939 shares of the real estate investment trust’s stock worth $49,463,000 after acquiring an additional 21,581 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Gladstone Land by 0.8% during the first quarter. Janney Montgomery Scott LLC now owns 246,125 shares of the real estate investment trust’s stock valued at $3,283,000 after purchasing an additional 2,042 shares in the last quarter. PFG Investments LLC lifted its holdings in shares of Gladstone Land by 72.3% during the first quarter. PFG Investments LLC now owns 150,715 shares of the real estate investment trust’s stock valued at $2,011,000 after purchasing an additional 63,250 shares in the last quarter. Accordant Advisory Group Inc bought a new position in shares of Gladstone Land during the first quarter valued at $1,542,000. Finally, GSA Capital Partners LLP lifted its holdings in shares of Gladstone Land by 216.8% during the first quarter. GSA Capital Partners LLP now owns 70,383 shares of the real estate investment trust’s stock valued at $939,000 after purchasing an additional 48,167 shares in the last quarter. 53.60% of the stock is owned by institutional investors.

Gladstone Land Company Profile

Founded in 1997, Gladstone Land is a publicly traded real estate investment trust that acquires and owns farmland and farm-related properties located in major agricultural markets in the U.S. and leases its properties to unrelated third-party farmers. The Company, which reports the aggregate fair value of its farmland holdings on a quarterly basis, currently owns 169 farms, comprised of approximately 116,000 acres in 15 different states and over 45,000 acre-feet of banked water in California, valued at a total of approximately $1.6 billion.