Gladstone Land (NASDAQ:LAND) Earns Buy Rating from Analysts at Alliance Global Partners

Alliance Global Partners assumed coverage on shares of Gladstone Land (NASDAQ:LANDFree Report) in a report issued on Tuesday, MarketBeat reports. The brokerage issued a buy rating and a $16.00 price target on the real estate investment trust’s stock.

LAND has been the topic of several other reports. Oppenheimer decreased their price objective on Gladstone Land from $20.00 to $16.00 and set an outperform rating on the stock in a report on Wednesday, May 15th. Maxim Group decreased their price objective on Gladstone Land from $19.00 to $16.00 and set a buy rating on the stock in a report on Thursday, May 9th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $16.00.

View Our Latest Stock Analysis on LAND

Gladstone Land Stock Up 0.4 %

Shares of LAND opened at $13.55 on Tuesday. The stock has a market capitalization of $485.63 million, a price-to-earnings ratio of 225.87, a price-to-earnings-growth ratio of 3.67 and a beta of 1.03. Gladstone Land has a 1 year low of $12.31 and a 1 year high of $17.44. The business’s 50 day simple moving average is $13.11 and its 200-day simple moving average is $13.53. The company has a debt-to-equity ratio of 0.76, a current ratio of 6.14 and a quick ratio of 6.14.

Gladstone Land Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, June 28th. Shareholders of record on Wednesday, June 19th will be issued a $0.0466 dividend. This represents a $0.56 annualized dividend and a dividend yield of 4.13%. The ex-dividend date is Tuesday, June 18th. Gladstone Land’s dividend payout ratio is 933.49%.

Institutional Investors Weigh In On Gladstone Land

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Gladstone Land by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 3,475,939 shares of the real estate investment trust’s stock worth $49,463,000 after buying an additional 21,581 shares during the period. Quadrant Capital Group LLC lifted its stake in shares of Gladstone Land by 250.2% during the 4th quarter. Quadrant Capital Group LLC now owns 2,290 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 1,636 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Gladstone Land by 26.6% during the 4th quarter. SG Americas Securities LLC now owns 18,873 shares of the real estate investment trust’s stock worth $273,000 after purchasing an additional 3,962 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Gladstone Land during the 4th quarter worth $173,000. Finally, OneAscent Financial Services LLC purchased a new stake in shares of Gladstone Land during the 4th quarter worth $170,000. 53.60% of the stock is currently owned by hedge funds and other institutional investors.

About Gladstone Land

(Get Free Report)

Founded in 1997, Gladstone Land is a publicly traded real estate investment trust that acquires and owns farmland and farm-related properties located in major agricultural markets in the U.S. and leases its properties to unrelated third-party farmers. The Company, which reports the aggregate fair value of its farmland holdings on a quarterly basis, currently owns 169 farms, comprised of approximately 116,000 acres in 15 different states and over 45,000 acre-feet of banked water in California, valued at a total of approximately $1.6 billion.

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