Gladstone Land (NASDAQ:LAND) Lowered to Sell Rating by StockNews.com

StockNews.com downgraded shares of Gladstone Land (NASDAQ:LAND) from a hold rating to a sell rating in a research report released on Wednesday.

Separately, Alliance Global Partners downgraded Gladstone Land from a “buy” rating to a “neutral” rating and dropped their target price for the company from $16.00 to $14.50 in a research report on Friday, November 8th.

Gladstone Land Stock Up 1.2 %

Shares of LAND opened at $11.84 on Wednesday. The firm has a market cap of $428.43 million, a P/E ratio of -40.83, a price-to-earnings-growth ratio of 3.74 and a beta of 1.05. Gladstone Land has a 12-month low of $10.27 and a 12-month high of $15.36. The company’s 50-day moving average price is $10.98 and its 200 day moving average price is $12.25. The company has a current ratio of 0.99, a quick ratio of 0.70 and a debt-to-equity ratio of 0.77.

Gladstone Land (NASDAQ:LAND) last released its earnings results on Wednesday, February 19th. The real estate investment trust reported $0.09 earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.19. The company had revenue of $21.10 million during the quarter, compared to the consensus estimate of $20.45 million. Gladstone Land had a return on equity of 1.89% and a net margin of 15.59%. On average, sell-side analysts forecast that Gladstone Land will post 0.52 earnings per share for the current year.

Gladstone Land Increases Dividend

The business also recently disclosed a dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 27th were given a dividend of $0.0467 per share. The ex-dividend date of this dividend was Friday, January 24th. This is an increase from Gladstone Land’s previous dividend of $0.04. This represents a dividend yield of 5.33%. Gladstone Land’s payout ratio is currently -193.10%.

Hedge Funds Weigh In On Gladstone Land

A number of institutional investors and hedge funds have recently made changes to their positions in LAND. Creative Planning grew its position in shares of Gladstone Land by 10.9% during the third quarter. Creative Planning now owns 22,536 shares of the real estate investment trust’s stock worth $313,000 after buying an additional 2,215 shares in the last quarter. Janney Montgomery Scott LLC grew its position in shares of Gladstone Land by 3.8% during the third quarter. Janney Montgomery Scott LLC now owns 251,838 shares of the real estate investment trust’s stock worth $3,501,000 after buying an additional 9,143 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in shares of Gladstone Land during the third quarter worth about $50,000. Versor Investments LP acquired a new position in shares of Gladstone Land during the third quarter worth about $272,000. Finally, GSA Capital Partners LLP grew its position in shares of Gladstone Land by 19.0% during the third quarter. GSA Capital Partners LLP now owns 82,479 shares of the real estate investment trust’s stock worth $1,146,000 after buying an additional 13,159 shares in the last quarter. 53.60% of the stock is owned by institutional investors and hedge funds.

Gladstone Land Company Profile

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.