Brokerages expect Gladstone Land Corp (NASDAQ:LAND) to announce $0.13 earnings per share for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for Gladstone Land’s earnings. Gladstone Land posted earnings of $0.14 per share in the same quarter last year, which would suggest a negative year over year growth rate of 7.1%. The firm is scheduled to announce its next earnings results on Tuesday, February 19th.
According to Zacks, analysts expect that Gladstone Land will report full year earnings of $0.46 per share for the current year, with EPS estimates ranging from $0.40 to $0.51. For the next fiscal year, analysts anticipate that the business will post earnings of $0.58 per share, with EPS estimates ranging from $0.56 to $0.59. Zacks’ EPS averages are a mean average based on a survey of research firms that that provide coverage for Gladstone Land.
LAND has been the subject of a number of analyst reports. Zacks Investment Research lowered shares of Gladstone Land from a “hold” rating to a “sell” rating in a report on Thursday, August 30th. ValuEngine raised shares of Gladstone Land from a “hold” rating to a “buy” rating in a report on Thursday, November 1st.
Shares of NASDAQ LAND traded up $0.07 during mid-day trading on Friday, reaching $12.86. The company’s stock had a trading volume of 70,732 shares, compared to its average volume of 61,416. The stock has a market capitalization of $207.15 million, a price-to-earnings ratio of 22.96 and a beta of 0.98. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 2.15. Gladstone Land has a 1-year low of $11.36 and a 1-year high of $13.95.
The company also recently disclosed a dividend, which will be paid on Friday, November 30th. Investors of record on Tuesday, November 20th will be issued a $0.044 dividend. The ex-dividend date is Monday, November 19th. This is a positive change from Gladstone Land’s previous dividend of $0.03. Gladstone Land’s dividend payout ratio is currently 94.64%.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Cahill Financial Advisors Inc. purchased a new stake in shares of Gladstone Land in the third quarter valued at about $131,000. Rhumbline Advisers purchased a new position in Gladstone Land during the second quarter worth about $174,000. Teachers Insurance & Annuity Association of America boosted its stake in 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 worth $227,000 after buying an additional 6,122 shares during the period. Strs Ohio boosted its stake in Gladstone Land by 47.8% during the second quarter. Strs Ohio now owns 22,299 shares of the real estate investment trust’s stock worth $282,000 after buying an additional 7,216 shares during the period. Finally, Schwab Charles Investment Management Inc. purchased a new position in Gladstone Land during the second quarter worth about $315,000. 35.93% of the stock is owned by hedge funds and other institutional investors.
Gladstone Land Company Profile
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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