Gladstone Land Corp (NASDAQ:LAND) saw a large decrease in short interest during the month of June. As of June 30th, there was short interest totalling 359,400 shares, a decrease of 6.0% from the June 15th total of 382,200 shares. Based on an average daily trading volume, of 188,700 shares, the days-to-cover ratio is presently 1.9 days. Currently, 1.9% of the company’s shares are sold short.
NASDAQ:LAND opened at $15.77 on Friday. The company has a 50-day moving average price of $15.21 and a 200-day moving average price of $13.53. Gladstone Land has a 12 month low of $9.61 and a 12 month high of $16.37. The company has a current ratio of 3.46, a quick ratio of 3.46 and a debt-to-equity ratio of 1.55. The stock has a market cap of $323.18 million, a price-to-earnings ratio of 22.07 and a beta of 0.78.
Gladstone Land (NASDAQ:LAND) last announced its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.12). Gladstone Land had a net margin of 9.88% and a return on equity of 1.78%. The company had revenue of $15.28 million for the quarter, compared to analysts’ expectations of $13.64 million. Equities analysts forecast that Gladstone Land will post 0.68 EPS for the current fiscal year.
The company also recently announced a monthly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, June 19th were given a $0.0447 dividend. This represents a $0.54 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend was Thursday, June 18th. Gladstone Land’s dividend payout ratio is currently 94.74%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in LAND. Advisory Alpha LLC bought a new stake in shares of Gladstone Land during the fourth quarter valued at approximately $53,000. Citigroup Inc. raised its holdings in Gladstone Land by 222.8% in the fourth quarter. Citigroup Inc. now owns 4,523 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 3,122 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Gladstone Land by 44.7% during the first quarter. Nisa Investment Advisors LLC now owns 5,234 shares of the real estate investment trust’s stock valued at $62,000 after buying an additional 1,617 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in shares of Gladstone Land by 28.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 5,691 shares of the real estate investment trust’s stock valued at $67,000 after buying an additional 1,260 shares in the last quarter. Finally, Enterprise Financial Services Corp boosted its holdings in shares of Gladstone Land by 180.0% during the 1st quarter. Enterprise Financial Services Corp now owns 7,000 shares of the real estate investment trust’s stock valued at $83,000 after buying an additional 4,500 shares in the last quarter. Institutional investors own 37.26% of the company’s stock.
LAND has been the topic of a number of recent analyst reports. B. Riley raised their price target on shares of Gladstone Land from $16.00 to $17.50 in a report on Wednesday, June 10th. BidaskClub lowered shares of Gladstone Land from a “strong-buy” rating to a “buy” rating in a report on Friday. Maxim Group restated a “buy” rating and set a $16.00 price target on shares of Gladstone Land in a report on Tuesday, May 12th. Finally, Zacks Investment Research upgraded Gladstone Land from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a report on Thursday, March 26th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $14.28.
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 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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