Gladstone Land (NASDAQ:LAND) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Thursday.
Separately, Zacks Investment Research cut shares of Gladstone Land from a “hold” rating to a “sell” rating in a report on Thursday, July 19th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Gladstone Land has a consensus rating of “Buy” and an average price target of $14.67.
NASDAQ LAND traded up $0.08 during trading hours on Thursday, reaching $12.59. The company’s stock had a trading volume of 52,300 shares, compared to its average volume of 94,784. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 2.17. Gladstone Land has a 52 week low of $11.36 and a 52 week high of $13.98. The stock has a market capitalization of $202.65 million, a P/E ratio of 22.48 and a beta of 1.17.
Several institutional investors and hedge funds have recently added to or reduced their stakes in LAND. Rhumbline Advisers bought a new stake in shares of Gladstone Land during the second quarter valued at approximately $174,000. Teachers Insurance & Annuity Association of America raised its holdings in shares of Gladstone Land by 52.0% during the second quarter. Teachers Insurance & Annuity Association of America now owns 17,897 shares of the real estate investment trust’s stock valued at $227,000 after buying an additional 6,122 shares during the last quarter. Strs Ohio raised its holdings in shares of Gladstone Land by 47.8% during the second quarter. Strs Ohio now owns 22,299 shares of the real estate investment trust’s stock valued at $282,000 after buying an additional 7,216 shares during the last quarter. Schwab Charles Investment Management Inc. bought a new stake in shares of Gladstone Land during the second quarter valued at approximately $315,000. Finally, Ladenburg Thalmann Financial Services Inc. raised its holdings in shares of Gladstone Land by 318.3% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 32,445 shares of the real estate investment trust’s stock valued at $392,000 after buying an additional 24,688 shares during the last quarter. 36.09% of the stock is currently owned by institutional investors.
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 unrelated third-party farmers. The Company reports the current fair value of its farmland on a quarterly basis; as of June 30, 2018, the estimated net asset value of the Company was $13.51 per share.
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