Gladstone Land (NASDAQ:LAND) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a report released on Wednesday, March 7th.
Several other brokerages have also recently issued reports on LAND. Zacks Investment Research cut shares of Gladstone Land from a “hold” rating to a “sell” rating in a report on Tuesday, November 21st. Hilliard Lyons cut shares of Gladstone Land from a “buy” rating to a “neutral” rating in a report on Wednesday, November 8th. Finally, Ladenburg Thalmann Financial Services reiterated a “buy” rating and set a $15.00 target price (up from $14.00) on shares of Gladstone Land in a report on Friday, December 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. Gladstone Land has a consensus rating of “Hold” and a consensus target price of $14.63.
Gladstone Land (NASDAQ LAND) traded down $0.08 during midday trading on Wednesday, hitting $13.01. 10,512 shares of the stock were exchanged, compared to its average volume of 72,952. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 2.55. Gladstone Land has a 12-month low of $10.77 and a 12-month high of $14.29. The company has a market capitalization of $182.18, a PE ratio of 23.54 and a beta of 0.87.
In other news, Director Walter H. Wilkinson purchased 4,700 shares of the stock in a transaction dated Friday, February 23rd. The shares were acquired at an average cost of $12.58 per share, for a total transaction of $59,126.00. Following the acquisition, the director now owns 9,791 shares of the company’s stock, valued at $123,170.78. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 21.87% of the stock is currently owned by company insiders.
Several institutional investors have recently made changes to their positions in the stock. Millennium Management LLC raised its position in shares of Gladstone Land by 8.0% in the 4th quarter. Millennium Management LLC now owns 67,612 shares of the real estate investment trust’s stock valued at $908,000 after purchasing an additional 5,037 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Gladstone Land by 51.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 28,826 shares of the real estate investment trust’s stock valued at $387,000 after purchasing an additional 9,782 shares during the last quarter. BlueCrest Capital Management Ltd purchased a new position in shares of Gladstone Land in the 4th quarter valued at approximately $260,000. Amundi Pioneer Asset Management Inc. purchased a new position in Gladstone Land during the 4th quarter worth approximately $598,000. Finally, Alliancebernstein L.P. purchased a new position in Gladstone Land during the 4th quarter worth approximately $2,234,000. 26.39% of the stock is owned by hedge funds and other institutional investors.
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Gladstone Land Company Profile
Gladstone Land Corporation is an agricultural real estate investment trust (REIT). The Company is engaged in the business of owning and leasing farmland. The Company also owns various farm-related facilities, such as cooling facilities, buildings utilized for the storage and assembly of boxes for shipping produce (box barns), packinghouses, processing facilities and various storage facilities.
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