Gladstone Land (NASDAQ:LAND) Raised to “Hold” at BidaskClub

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BidaskClub upgraded shares of Gladstone Land (NASDAQ:LAND) from a sell rating to a hold rating in a research report report published on Saturday morning, BidAskClub reports.

Several other analysts also recently commented on the company. Zacks Investment Research raised Gladstone Land from a hold rating to a buy rating and set a $14.00 price objective for the company in a research note on Saturday, November 16th. Maxim Group reaffirmed a buy rating and set a $15.00 price objective on shares of Gladstone Land in a research note on Friday, November 8th. B. Riley started coverage on Gladstone Land in a research note on Tuesday, November 26th. They set a buy rating and a $13.50 price objective for the company. Aegis started coverage on Gladstone Land in a research note on Monday, October 7th. They set a buy rating and a $13.50 price objective for the company. Finally, ValuEngine raised Gladstone Land from a hold rating to a buy rating in a research note on Tuesday, August 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $14.00.

Shares of NASDAQ LAND opened at $12.57 on Friday. The stock has a market cap of $265.48 million, a PE ratio of 24.65 and a beta of 0.83. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.78. Gladstone Land has a 52-week low of $11.12 and a 52-week high of $13.85. The business has a 50-day moving average price of $12.08 and a 200 day moving average price of $11.91.

The business also recently disclosed a dividend, which was paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th were paid a dividend of $0.0446 per share. The ex-dividend date was Monday, November 18th. Gladstone Land’s dividend payout ratio is presently 105.88%.

In other Gladstone Land news, CEO David Gladstone bought 135,739 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was acquired at an average cost of $11.86 per share, with a total value of $1,609,864.54. Following the purchase, the chief executive officer now owns 2,224,324 shares in the company, valued at approximately $26,380,482.64. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 12.41% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Cahill Financial Advisors Inc. raised its stake in shares of Gladstone Land by 6.3% during the 2nd quarter. Cahill Financial Advisors Inc. now owns 15,004 shares of the real estate investment trust’s stock worth $173,000 after buying an additional 893 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Gladstone Land by 27.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,481 shares of the real estate investment trust’s stock worth $51,000 after buying an additional 967 shares in the last quarter. Strs Ohio raised its stake in shares of Gladstone Land by 4.5% during the 2nd quarter. Strs Ohio now owns 23,714 shares of the real estate investment trust’s stock worth $273,000 after buying an additional 1,022 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Gladstone Land by 68.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,649 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 1,076 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of Gladstone Land by 0.5% during the 2nd quarter. Wells Fargo & Company MN now owns 260,482 shares of the real estate investment trust’s stock worth $3,003,000 after buying an additional 1,293 shares in the last quarter. 32.52% of the stock is owned by institutional investors and hedge funds.

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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