Gladstone Land (NASDAQ:LAND) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Gladstone Land (NASDAQ:LAND) from a hold rating to a sell rating in a research report sent to investors on Tuesday, Zacks.com reports.

According to Zacks, “Gladstone Land Corporation is a real estate investment trust. The company acquires and leases farmland to corporate and independent farmers. Its properties are situated in California and Florida. Gladstone Land Corporation is based in McLean, Virginia. “

A number of other research analysts have also commented on LAND. Maxim Group set a $15.00 price target on Gladstone Land and gave the company a buy rating in a report on Friday, August 9th. ValuEngine raised Gladstone Land from a hold rating to a buy rating in a report on Tuesday, August 6th.



Shares of LAND opened at $11.95 on Tuesday. The firm has a market capitalization of $250.35 million, a price-to-earnings ratio of 23.43 and a beta of 0.78. The company has a debt-to-equity ratio of 1.51, a quick ratio of 3.14 and a current ratio of 3.14. Gladstone Land has a one year low of $11.12 and a one year high of $13.85. The stock’s fifty day moving average is $11.66 and its 200-day moving average is $12.04.

Gladstone Land (NASDAQ:LAND) last issued its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.16). The business had revenue of $8.36 million for the quarter. Gladstone Land had a net margin of 15.13% and a return on equity of 2.59%. Analysts forecast that Gladstone Land will post 0.49 EPS for the current fiscal year.

The firm also recently declared a dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 17th will be issued a dividend of $0.045 per share. The ex-dividend date of this dividend is Monday, September 16th. Gladstone Land’s dividend payout ratio (DPR) is 103.92%.

In other Gladstone Land news, CEO David Gladstone purchased 135,739 shares of the stock in a transaction dated Monday, September 9th. The shares were bought at an average cost of $11.86 per share, with a total value of $1,609,864.54. Following the completion of the acquisition, the chief executive officer now owns 2,224,324 shares of the company’s stock, valued at $26,380,482.64. The purchase was disclosed in a filing with the SEC, which is available through this link. 12.41% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in LAND. BlackRock Inc. grew its holdings in Gladstone Land by 19.7% during the second quarter. BlackRock Inc. now owns 1,021,724 shares of the real estate investment trust’s stock worth $11,781,000 after acquiring an additional 168,095 shares during the period. Amundi Pioneer Asset Management Inc. grew its holdings in Gladstone Land by 148.9% during the second quarter. Amundi Pioneer Asset Management Inc. now owns 252,721 shares of the real estate investment trust’s stock worth $10,846,000 after acquiring an additional 151,201 shares during the period. Marshall Wace LLP acquired a new position in Gladstone Land during the second quarter worth about $1,085,000. Vanguard Group Inc. grew its holdings in Gladstone Land by 9.6% during the second quarter. Vanguard Group Inc. now owns 974,531 shares of the real estate investment trust’s stock worth $11,237,000 after acquiring an additional 85,380 shares during the period. Finally, Municipal Employees Retirement System of Michigan acquired a new position in Gladstone Land during the second quarter worth about $517,000. 30.50% of the stock is currently owned by hedge funds and other 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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