Wall Street analysts predict that Gladstone Land Corp (NASDAQ:LAND) will post earnings per share of $0.15 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Gladstone Land’s earnings, with estimates ranging from $0.14 to $0.15. Gladstone Land reported earnings of $0.13 per share in the same quarter last year, which would suggest a positive year over year growth rate of 15.4%. The company is expected to report its next quarterly earnings report on Tuesday, February 25th.
According to Zacks, analysts expect that Gladstone Land will report full-year earnings of $0.54 per share for the current year, with EPS estimates ranging from $0.54 to $0.55. For the next fiscal year, analysts expect that the firm will post earnings of $0.56 per share, with EPS estimates ranging from $0.54 to $0.59. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Gladstone Land.
Several brokerages have issued reports on LAND. Aegis began coverage on shares of Gladstone Land in a report on Monday, October 7th. They issued a “buy” rating and a $13.50 price target on the stock. Maxim Group reissued a “buy” rating and issued a $15.00 price target on shares of Gladstone Land in a report on Friday, November 8th. Zacks Investment Research raised shares of Gladstone Land from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a report on Saturday, November 16th. BidaskClub upgraded shares of Gladstone Land from a “sell” rating to a “hold” rating in a research note on Saturday, November 30th. Finally, B. Riley initiated coverage on shares of Gladstone Land in a research note on Tuesday, November 26th. They issued a “buy” rating and a $13.50 target price on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $14.00.
Gladstone Land stock traded up $0.16 on Wednesday, hitting $13.25. The company’s stock had a trading volume of 7,036 shares, compared to its average volume of 101,006. The firm has a market cap of $273.96 million, a P/E ratio of 25.88 and a beta of 0.83. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.78. The company has a fifty day moving average price of $12.15 and a 200-day moving average price of $11.91. Gladstone Land has a one year low of $11.12 and a one year high of $13.85.
The company also recently announced a dividend, which was paid on Friday, November 29th. Stockholders of record on Tuesday, November 19th were paid a $0.0446 dividend. The ex-dividend date was Monday, November 18th. Gladstone Land’s dividend payout ratio is presently 105.88%.
Several large investors have recently modified their holdings of LAND. Amundi Pioneer Asset Management Inc. boosted its stake in shares of Gladstone Land by 49.0% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 101,520 shares of the real estate investment trust’s stock valued at $1,284,000 after purchasing an additional 33,381 shares in the last quarter. Strs Ohio boosted its stake in shares of Gladstone Land by 4.5% in the 2nd quarter. Strs Ohio now owns 23,714 shares of the real estate investment trust’s stock valued at $273,000 after purchasing an additional 1,022 shares in the last quarter. Foresight Wealth Management LLC boosted its stake in shares of Gladstone Land by 7.3% in the 2nd quarter. Foresight Wealth Management LLC now owns 234,623 shares of the real estate investment trust’s stock valued at $2,705,000 after purchasing an additional 15,919 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Gladstone Land in the 2nd quarter valued at $184,000. Finally, Janney Montgomery Scott LLC boosted its stake in shares of Gladstone Land by 15.3% in the 2nd quarter. Janney Montgomery Scott LLC now owns 45,892 shares of the real estate investment trust’s stock valued at $529,000 after purchasing an additional 6,106 shares in the last quarter. Institutional investors own 32.52% of the company’s stock.
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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