Gladstone Land (NASDAQ:LAND) Raised to Buy at Zacks Investment Research

Gladstone Land (NASDAQ:LAND) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Saturday, Zacks.com reports. The brokerage presently has a $14.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 15.89% from the company’s previous close.

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 analysts also recently weighed in on the stock. Peel Hunt reissued a “hold” rating on shares of Gladstone Land in a research report on Tuesday. Liberum Capital reissued a “hold” rating on shares of Gladstone Land in a research report on Tuesday. ValuEngine raised shares of Gladstone Land from a “hold” rating to a “buy” rating in a research report on Tuesday, August 6th. UBS Group reaffirmed a “buy” rating on shares of Gladstone Land in a research report on Tuesday, November 5th. Finally, Aegis assumed coverage on shares of Gladstone Land in a research report on Monday, October 7th. They set a “buy” rating and a $13.50 price objective for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $14.17.

NASDAQ:LAND opened at $12.08 on Friday. The company has a market capitalization of $252.91 million, a PE ratio of 23.69 and a beta of 0.80. The company has a 50 day simple moving average of $11.93 and a two-hundred day simple moving average of $11.93. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.57 and a current ratio of 0.57. Gladstone Land has a fifty-two week low of $11.12 and a fifty-two week high of $13.85.

In related news, CEO David Gladstone acquired 135,739 shares of Gladstone Land 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 transaction, the chief executive officer now directly owns 2,224,324 shares in the company, valued at approximately $26,380,482.64. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 12.41% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Nisa Investment Advisors LLC grew its position in 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 during the period. JPMorgan Chase & Co. grew its position in 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 during the period. State of Alaska Department of Revenue grew its position in 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 during the period. Cahill Financial Advisors Inc. grew its position in 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 during the period. Finally, ETF Managers Group LLC acquired a new stake in Gladstone Land in the 2nd quarter valued at $177,000. 28.85% of the stock is owned by institutional investors.

About Gladstone Land

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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