Gladstone Land (NASDAQ:LAND) Earns Sell Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Gladstone Land (NASDAQ:LAND – Get Rating) in a research note issued to investors on Thursday. The firm issued a sell rating on the real estate investment trust’s stock.

LAND has been the subject of a number of other reports. B. Riley lowered their target price on shares of Gladstone Land from $27.00 to $24.00 and set a buy rating for the company in a research note on Thursday, February 23rd. EF Hutton Acquisition Co. I reduced their price target on shares of Gladstone Land from $25.00 to $22.00 and set a buy rating for the company in a research report on Thursday, February 23rd. Finally, Oppenheimer raised shares of Gladstone Land from a market perform rating to an outperform rating and reduced their price target for the stock from $25.00 to $22.00 in a research report on Wednesday, February 22nd.

Gladstone Land Stock Performance

LAND stock traded down $0.48 during trading on Thursday, reaching $15.64. The company had a trading volume of 516,901 shares, compared to its average volume of 250,431. The firm has a 50-day simple moving average of $18.50 and a 200-day simple moving average of $19.39. The company has a market cap of $558.50 million, a price-to-earnings ratio of -36.37, a price-to-earnings-growth ratio of 3.57 and a beta of 1.03. The company has a debt-to-equity ratio of 0.86, a quick ratio of 3.76 and a current ratio of 3.76. Gladstone Land has a twelve month low of $15.36 and a twelve month high of $42.10.

Gladstone Land Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, March 31st. Shareholders of record on Friday, March 17th will be given a dividend of $0.0459 per share. This represents a $0.55 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date is Thursday, March 16th. Gladstone Land’s dividend payout ratio is presently -127.90%.

Hedge Funds Weigh In On Gladstone Land

A number of institutional investors have recently bought and sold shares of the business. Lazard Asset Management LLC purchased a new position in shares of Gladstone Land during the 4th quarter valued at approximately $27,000. MinichMacGregor Wealth Management LLC purchased a new position in shares of Gladstone Land during the 4th quarter valued at approximately $29,000. Belpointe Asset Management LLC purchased a new position in shares of Gladstone Land during the 4th quarter valued at approximately $30,000. Heritage Wealth Management LLC increased its holdings in shares of Gladstone Land by 100.0% during the 4th quarter. Heritage Wealth Management LLC now owns 1,710 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 855 shares in the last quarter. Finally, Money Concepts Capital Corp purchased a new position in shares of Gladstone Land during the 4th quarter valued at approximately $33,000. 45.31% of the stock is owned by hedge funds and other institutional investors.

Gladstone Land Company Profile

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Gladstone Land Corp. is an agricultural real estate investment trust, which engages in the business of owning and leasing farmland. It also includes farm-related facilities, such as cooling facilities, packinghouses, processing facilities, and various storage facilities. The company was founded by David Gladstone on June 14, 1997 and is headquartered in McLean, VA.