UBS Group restated their buy rating on shares of Gladstone Land (NASDAQ:LAND) in a report published on Tuesday morning, Stock Target Advisor reports.
A number of other research firms have also recently commented on LAND. Zacks Investment Research cut shares of Gladstone Land from a hold rating to a sell rating in a research note on Tuesday, September 17th. Aegis started coverage on shares of Gladstone Land in a research note on Monday, October 7th. They issued a buy rating and a $13.50 price target for the company. Maxim Group set a $15.00 price target on shares of Gladstone Land and gave the stock a buy rating in a research note on Friday, August 9th. Peel Hunt reissued a hold rating on shares of Gladstone Land in a research note on Tuesday, October 22nd. Finally, ValuEngine raised shares of Gladstone Land from a hold rating to a buy rating in a research note on Tuesday, August 6th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $14.17.
LAND stock opened at $12.10 on Tuesday. The company has a debt-to-equity ratio of 1.51, a current ratio of 3.14 and a quick ratio of 3.14. Gladstone Land has a one year low of $11.12 and a one year high of $13.85. The stock has a market cap of $250.97 million, a PE ratio of 23.73 and a beta of 0.80. The firm has a 50 day simple moving average of $11.91 and a two-hundred day simple moving average of $11.94.
Gladstone Land (NASDAQ:LAND) last released its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported ($0.04) EPS for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.16). Gladstone Land had a return on equity of 2.59% and a net margin of 15.13%. The company had revenue of $8.36 million during the quarter. On average, research analysts expect that Gladstone Land will post 0.49 EPS for the current fiscal year.
The firm also recently disclosed a monthly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 22nd were paid a $0.045 dividend. The ex-dividend date was Monday, October 21st. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.46%. Gladstone Land’s dividend payout ratio (DPR) is 105.88%.
In other Gladstone Land news, CEO David Gladstone acquired 135,739 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was bought at an average price of $11.86 per share, with a total value of $1,609,864.54. Following the purchase, the chief executive officer now owns 2,224,324 shares of the company’s stock, valued at $26,380,482.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.41% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC boosted its stake in shares of Gladstone Land by 68.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,649 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 1,076 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Gladstone Land by 27.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,481 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 967 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Gladstone Land by 33.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 6,338 shares of the real estate investment trust’s stock valued at $72,000 after purchasing an additional 1,591 shares in the last quarter. Cahill Financial Advisors Inc. boosted its stake in shares of Gladstone Land by 6.3% in the 2nd quarter. Cahill Financial Advisors Inc. now owns 15,004 shares of the real estate investment trust’s stock valued at $173,000 after purchasing an additional 893 shares in the last quarter. Finally, ETF Managers Group LLC bought a new stake in Gladstone Land during the 2nd quarter valued at $177,000. 28.80% of the stock is owned by institutional investors.
Gladstone Land Company Profile
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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