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

Gladstone Land Co. (NASDAQ:LAND) has been given an average recommendation of “Moderate Buy” by the four research firms that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $16.00.

Several equities analysts have recently issued reports on the company. Alliance Global Partners began coverage on 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 shares of Gladstone Land from a “buy” rating to a “hold” rating in a report on Monday, August 12th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of LAND. Quadrant Capital Group LLC boosted its stake in Gladstone Land by 250.2% in the fourth quarter. Quadrant Capital Group LLC now owns 2,290 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 1,636 shares in the last quarter. Signaturefd LLC lifted its stake in Gladstone Land by 3,910.3% in the second quarter. Signaturefd LLC now owns 3,128 shares of the real estate investment trust’s stock valued at $43,000 after buying an additional 3,050 shares during the last quarter. M&G Plc acquired a new stake in shares of Gladstone Land in the first quarter valued at approximately $138,000. LRI Investments LLC purchased a new position in shares of Gladstone Land during the first quarter worth approximately $149,000. Finally, Millburn Ridgefield Corp increased its holdings in shares of Gladstone Land by 7.6% in the 1st quarter. Millburn Ridgefield Corp now owns 12,559 shares of the real estate investment trust’s stock valued at $168,000 after acquiring an additional 885 shares during the period. 53.60% of the stock is owned by hedge funds and other institutional investors.

Gladstone Land Trading Up 0.7 %

NASDAQ:LAND opened at $14.01 on Thursday. Gladstone Land has a 12-month low of $12.31 and a 12-month high of $15.36. The firm has a market cap of $502.09 million, a PE ratio of 233.50, a price-to-earnings-growth ratio of 4.47 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 stock has a fifty day moving average price of $14.11 and a 200 day moving average price of $13.54.

Gladstone Land Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 20th will be paid a dividend of $0.0467 per share. This represents a $0.56 annualized dividend and a yield of 4.00%. The ex-dividend date of this dividend is Friday, September 20th. Gladstone Land’s payout ratio is 933.33%.

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.