Gladstone Land Co. (NASDAQ:LAND) Given Average Rating of “Moderate Buy” by Analysts

Shares of Gladstone Land Co. (NASDAQ:LANDGet Free Report) have received an average recommendation of “Moderate Buy” from the four analysts that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $16.00.

LAND has been the topic of a number of research analyst reports. Alliance Global Partners started coverage on shares of Gladstone Land in a report on Tuesday, June 11th. They issued a “buy” rating and a $16.00 price target on the stock. Maxim Group dropped their price target on shares of Gladstone Land from $19.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Finally, Oppenheimer dropped their target price on shares of Gladstone Land from $20.00 to $16.00 and set an “outperform” rating for the company in a research report on Wednesday, May 15th.

Read Our Latest Report on Gladstone Land

Hedge Funds Weigh In On Gladstone Land

Institutional investors and hedge funds have recently made changes to their positions in the business. Quadrant Capital Group LLC lifted its holdings in Gladstone Land by 250.2% during the fourth quarter. Quadrant Capital Group LLC now owns 2,290 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 1,636 shares in the last quarter. M&G Plc purchased a new position in shares of Gladstone Land in the first quarter worth $138,000. M&G Investment Management Ltd. bought a new stake in Gladstone Land in the fourth quarter worth $149,000. LRI Investments LLC bought a new stake in Gladstone Land in the first quarter worth $149,000. Finally, Millburn Ridgefield Corp increased its position in Gladstone Land by 7.6% in the first quarter. Millburn Ridgefield Corp now owns 12,559 shares of the real estate investment trust’s stock worth $168,000 after purchasing an additional 885 shares during the last quarter. Hedge funds and other institutional investors own 53.60% of the company’s stock.

Gladstone Land Stock Performance

Gladstone Land stock opened at $13.54 on Tuesday. The firm’s 50 day simple moving average is $13.13 and its 200 day simple moving average is $13.50. The company has a current ratio of 6.14, a quick ratio of 6.14 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $485.27 million, a PE ratio of 225.70, a price-to-earnings-growth ratio of 3.72 and a beta of 1.03. Gladstone Land has a 1-year low of $12.31 and a 1-year high of $17.44.

Gladstone Land Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, June 28th. Stockholders of record on Wednesday, June 19th will be paid a $0.0466 dividend. The ex-dividend date is Tuesday, June 18th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.13%. Gladstone Land’s dividend payout ratio is presently 933.49%.

About Gladstone Land

(Get Free Report

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.

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