Gladstone Land Co. to Post Q3 2024 Earnings of $0.15 Per Share, B. Riley Forecasts (NASDAQ:LAND)

Gladstone Land Co. (NASDAQ:LAND) – Investment analysts at B. Riley issued their Q3 2024 earnings per share estimates for shares of Gladstone Land in a research note issued on Monday, September 9th. B. Riley analyst J. Massocca expects that the real estate investment trust will earn $0.15 per share for the quarter. The consensus estimate for Gladstone Land’s current full-year earnings is $0.50 per share. B. Riley also issued estimates for Gladstone Land’s Q4 2024 earnings at $0.15 EPS, FY2024 earnings at $0.54 EPS, Q1 2025 earnings at $0.14 EPS, Q2 2025 earnings at $0.09 EPS, Q3 2025 earnings at $0.14 EPS, Q4 2025 earnings at $0.17 EPS and FY2025 earnings at $0.54 EPS.

Several other brokerages have also issued reports on LAND. Oppenheimer decreased their price target on Gladstone Land from $20.00 to $16.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 15th. Maxim Group downgraded shares of Gladstone Land from a “buy” rating to a “hold” rating in a research note on Monday, August 12th. Finally, Alliance Global Partners initiated coverage on shares of Gladstone Land in a research note on Tuesday, June 11th. They set a “buy” rating and a $16.00 target price on the stock. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $16.00.

Gladstone Land Price Performance

Shares of NASDAQ:LAND opened at $13.92 on Wednesday. Gladstone Land has a 12 month low of $12.31 and a 12 month high of $15.65. The stock has a market capitalization of $498.89 million, a PE ratio of 232.04, a PEG ratio of 4.44 and a beta of 1.07. The company has a current ratio of 4.43, a quick ratio of 4.43 and a debt-to-equity ratio of 0.78. The firm has a 50 day moving average of $14.05 and a 200-day moving average of $13.46.

Gladstone Land Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 20th will be issued a $0.0467 dividend. The ex-dividend date is Friday, September 20th. This represents a $0.56 dividend on an annualized basis and a yield of 4.03%. Gladstone Land’s dividend payout ratio (DPR) is presently 933.49%.

Hedge Funds Weigh In On Gladstone Land

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC acquired a new stake in Gladstone Land during the 4th quarter valued at approximately $727,000. Tidal Investments LLC acquired a new position in Gladstone Land in the first quarter valued at $652,000. GSA Capital Partners LLP boosted its position in Gladstone Land by 216.8% during the first quarter. GSA Capital Partners LLP now owns 70,383 shares of the real estate investment trust’s stock valued at $939,000 after acquiring an additional 48,167 shares during the last quarter. Pullen Investment Management LLC acquired a new stake in Gladstone Land during the 1st quarter worth about $617,000. Finally, Quest Partners LLC bought a new position in shares of Gladstone Land in the 4th quarter worth about $399,000. 53.60% of the stock is currently owned by institutional investors and hedge funds.

About Gladstone Land

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.