Gladstone Land (NASDAQ:LAND) Posts Earnings Results, Misses Expectations By $0.02 EPS

Gladstone Land (NASDAQ:LAND) issued its quarterly earnings results on Monday. The real estate investment trust reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.02), FiscalAI reports. The company had revenue of $16.55 million during the quarter, compared to the consensus estimate of $14.20 million. Gladstone Land had a return on equity of 2.01% and a net margin of 15.31%.

Gladstone Land Trading Down 3.0%

NASDAQ LAND opened at $9.44 on Tuesday. Gladstone Land has a one year low of $8.47 and a one year high of $13.00. The company has a 50-day simple moving average of $10.64 and a 200-day simple moving average of $10.04. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market capitalization of $396.10 million, a PE ratio of -78.66 and a beta of 1.07.

Gladstone Land Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd will be issued a $0.0467 dividend. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a c) annualized dividend and a dividend yield of 5.9%. Gladstone Land’s payout ratio is -466.67%.

Wall Street Analysts Forecast Growth

LAND has been the subject of several recent analyst reports. Zacks Research lowered shares of Gladstone Land from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 10th. Weiss Ratings raised shares of Gladstone Land from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, March 2nd. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $10.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of LAND. Marshall Wace LLP acquired a new position in shares of Gladstone Land in the 4th quarter valued at about $2,476,000. NewEdge Advisors LLC boosted its holdings in shares of Gladstone Land by 1,521.9% in the 3rd quarter. NewEdge Advisors LLC now owns 266,414 shares of the real estate investment trust’s stock valued at $2,440,000 after buying an additional 249,988 shares during the period. Millennium Management LLC boosted its holdings in shares of Gladstone Land by 570.2% in the 3rd quarter. Millennium Management LLC now owns 283,538 shares of the real estate investment trust’s stock valued at $2,597,000 after buying an additional 241,231 shares during the period. Global Strategic Management Inc. acquired a new position in shares of Gladstone Land in the 4th quarter valued at about $1,420,000. Finally, ExodusPoint Capital Management LP acquired a new position in shares of Gladstone Land in the 4th quarter valued at about $938,000. 53.60% of the stock is owned by institutional investors and hedge funds.

Gladstone Land Company Profile

Gladstone Land Corporation (NASDAQ: LAND) is a publicly traded real estate investment trust (REIT) that specializes in the acquisition and ownership of farmland in the United States. Established in 2013 and headquartered in Wayne, Pennsylvania, the company focuses on purchasing high-quality agricultural properties and leasing them to farmers under long‐term, triple‐net lease agreements. This model provides tenants with operational flexibility while generating stable, recurring rental income for investors.

The company’s portfolio spans several key agricultural regions across the country, including California, the Midwest, and parts of the Southeast.