Brokerages Set Gladstone Land Co. (NASDAQ:LAND) Target Price at $16.00

Gladstone Land Co. (NASDAQ:LANDGet Free Report) has received a consensus recommendation of “Moderate Buy” from the four brokerages that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $16.00.

Several brokerages have issued reports on LAND. Alliance Global Partners assumed coverage on shares of Gladstone Land in a research note on Tuesday, June 11th. They issued a “buy” rating and a $16.00 price objective for the company. Maxim Group cut their price target on shares of Gladstone Land from $19.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Finally, Oppenheimer cut their price objective on shares of Gladstone Land from $20.00 to $16.00 and set an “outperform” rating on the stock in a report on Wednesday, May 15th.

Get Our Latest Stock Analysis on Gladstone Land

Institutional Trading of Gladstone Land

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC raised its holdings in shares of 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 worth $33,000 after acquiring an additional 1,636 shares during the period. M&G Plc bought a new stake in Gladstone Land in the 1st quarter valued at $138,000. M&G Investment Management Ltd. bought a new stake in shares of Gladstone Land in the fourth quarter valued at about $149,000. LRI Investments LLC acquired a new position in shares of Gladstone Land during the 1st quarter worth approximately $149,000. Finally, Millburn Ridgefield Corp increased its stake in Gladstone Land by 7.6% during the 1st quarter. Millburn Ridgefield Corp now owns 12,559 shares of the real estate investment trust’s stock worth $168,000 after acquiring an additional 885 shares during the period. 53.60% of the stock is owned by institutional investors.

Gladstone Land Stock Up 2.0 %

LAND opened at $13.93 on Friday. The firm’s 50 day simple moving average is $13.35 and its two-hundred day simple moving average is $13.39. Gladstone Land has a 1-year low of $12.31 and a 1-year high of $17.44. The company has a market capitalization of $499.25 million, a PE ratio of 232.21, a PEG ratio of 3.81 and a beta of 1.08. The company has a current ratio of 6.14, a quick ratio of 6.14 and a debt-to-equity ratio of 0.76.

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.

Further Reading

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