Wall Street brokerages expect that Gladstone Land (NASDAQ:LAND) will report $0.13 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Gladstone Land’s earnings. Gladstone Land posted earnings of $0.14 per share in the same quarter last year, which would indicate a negative year over year growth rate of 7.1%. The business is scheduled to announce its next earnings results on Tuesday, August 14th.
According to Zacks, analysts expect that Gladstone Land will report full year earnings of $0.59 per share for the current year, with EPS estimates ranging from $0.54 to $0.63. For the next financial year, analysts expect that the firm will post earnings of $0.64 per share, with EPS estimates ranging from $0.62 to $0.65. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that follow Gladstone Land.
Gladstone Land (NASDAQ:LAND) last issued its quarterly earnings results on Tuesday, February 20th. The real estate investment trust reported ($0.02) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.17). The firm had revenue of $6.81 million during the quarter. Gladstone Land had a negative return on equity of 0.44% and a negative net margin of 1.84%.
LAND has been the topic of several recent research reports. ValuEngine raised Gladstone Land from a “hold” rating to a “buy” rating in a research note on Saturday, April 7th. Maxim Group reaffirmed a “buy” rating and issued a $15.00 price target on shares of Gladstone Land in a research note on Wednesday, May 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Gladstone Land currently has an average rating of “Hold” and an average target price of $14.75.
In other news, Director Walter H. Wilkinson purchased 4,700 shares of Gladstone Land stock in a transaction that occurred on Friday, February 23rd. The shares were bought at an average cost of $12.58 per share, with a total value of $59,126.00. Following the completion of the purchase, the director now directly owns 9,791 shares in the company, valued at $123,170.78. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 16.08% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of LAND. RMR Advisors LLC grew its stake in Gladstone Land by 89.7% in the fourth quarter. RMR Advisors LLC now owns 37,935 shares of the real estate investment trust’s stock worth $509,000 after purchasing an additional 17,935 shares during the period. Monashee Investment Management LLC bought a new stake in Gladstone Land in the fourth quarter worth $146,000. Alliancebernstein L.P. bought a new stake in Gladstone Land in the fourth quarter worth $2,234,000. Amundi Pioneer Asset Management Inc. bought a new stake in Gladstone Land in the fourth quarter worth $598,000. Finally, BlueCrest Capital Management Ltd bought a new stake in Gladstone Land in the fourth quarter worth $260,000. 24.22% of the stock is currently owned by institutional investors.
Shares of LAND stock opened at $12.63 on Tuesday. The firm has a market capitalization of $196.57 million, a P/E ratio of 22.55 and a beta of 0.85. Gladstone Land has a twelve month low of $12.58 and a twelve month high of $12.73. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.31 and a current ratio of 0.31.
The company also recently declared a monthly dividend, which will be paid on Thursday, May 31st. Investors of record on Tuesday, May 22nd will be paid a $0.0443 dividend. The ex-dividend date is Monday, May 21st. This represents a $0.53 annualized dividend and a yield of 4.21%. Gladstone Land’s payout ratio is 94.64%.
About Gladstone Land
Gladstone Land is a publicly-traded real estate investment trust that invests in farmland and farm-related properties located in major agricultural markets in the U.S., which it leases to farmers, and pays monthly distributions to its stockholders. The Company reports the current fair value of its farmland on a quarterly basis; as of December 31, 2017, the estimated net asset value of the Company was $13.96 per share.
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