Gladstone Land (NASDAQ:LAND) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.
According to Zacks, “Gladstone Land Corporation is a real estate investment trust. The company acquires and leases farmland to corporate and independent farmers. Its properties are situated in California and Florida. Gladstone Land Corporation is based in McLean, Virginia. “
A number of other equities research analysts have also recently commented on the company. ValuEngine upgraded Gladstone Land from a “hold” rating to a “buy” rating in a research note on Tuesday, August 6th. Maxim Group set a $15.00 target price on Gladstone Land and gave the stock a “buy” rating in a research note on Friday, August 9th.
NASDAQ LAND opened at $11.50 on Tuesday. The company has a market cap of $244.52 million, a PE ratio of 22.55 and a beta of 0.79. Gladstone Land has a one year low of $11.12 and a one year high of $13.85. The company has a quick ratio of 3.14, a current ratio of 3.14 and a debt-to-equity ratio of 1.51. The business’s fifty day simple moving average is $11.55.
Gladstone Land (NASDAQ:LAND) last released its earnings results on Wednesday, August 7th. The real estate investment trust reported ($0.04) EPS for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.16). The business had revenue of $8.36 million for the quarter. Gladstone Land had a return on equity of 2.59% and a net margin of 15.13%. Equities research analysts forecast that Gladstone Land will post 0.46 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in LAND. Cahill Financial Advisors Inc. raised its stake in Gladstone Land by 6.3% in the 2nd quarter. Cahill Financial Advisors Inc. now owns 15,004 shares of the real estate investment trust’s stock valued at $173,000 after acquiring an additional 893 shares during the period. JPMorgan Chase & Co. raised its stake in Gladstone Land by 27.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,481 shares of the real estate investment trust’s stock valued at $51,000 after acquiring an additional 967 shares during the period. Strs Ohio raised its stake in Gladstone Land by 4.5% in the 2nd quarter. Strs Ohio now owns 23,714 shares of the real estate investment trust’s stock valued at $273,000 after acquiring an additional 1,022 shares during the period. Wells Fargo & Company MN raised its stake in Gladstone Land by 0.5% in the 2nd quarter. Wells Fargo & Company MN now owns 260,482 shares of the real estate investment trust’s stock valued at $3,003,000 after acquiring an additional 1,293 shares during the period. Finally, Golden State Wealth Management LLC raised its stake in Gladstone Land by 8.7% in the 2nd quarter. Golden State Wealth Management LLC now owns 19,436 shares of the real estate investment trust’s stock valued at $224,000 after acquiring an additional 1,550 shares during the period. Institutional investors own 29.88% of the company’s stock.
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 farmer-tenants. The Company reports the current fair value of its farmland on a quarterly basis; as of December 31, 2018, its estimated net asset value was $12.88 per share.
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