Gladstone Land (NASDAQ:LAND) Stock Rating Lowered by Zacks Research

Gladstone Land (NASDAQ:LAND) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Thursday,Zacks.com reports.

A number of other brokerages have also commented on LAND. Wall Street Zen lowered Gladstone Land from a “hold” rating to a “sell” rating in a report on Sunday, November 16th. Alliance Global Partners reaffirmed a “neutral” rating on shares of Gladstone Land in a research report on Tuesday, November 11th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Gladstone Land in a research note on Monday. Finally, Industrial Alliance Securities set a $10.00 price target on shares of Gladstone Land in a research report on Tuesday, November 11th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $10.00.

Gladstone Land Stock Performance

LAND stock traded down $0.04 during mid-day trading on Thursday, reaching $8.97. 542,324 shares of the stock traded hands, compared to its average volume of 372,358. The firm has a market capitalization of $334.31 million, a PE ratio of -40.77, a P/E/G ratio of 4.77 and a beta of 1.19. The business has a 50-day moving average of $9.22 and a two-hundred day moving average of $9.48. Gladstone Land has a 52 week low of $8.47 and a 52 week high of $11.93. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.73.

Gladstone Land (NASDAQ:LAND) last posted its quarterly earnings data on Wednesday, November 5th. The real estate investment trust reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.07. Gladstone Land had a return on equity of 1.46% and a net margin of 14.50%.The business had revenue of $17.79 million for the quarter, compared to analyst estimates of $15.08 million. As a group, equities analysts predict that Gladstone Land will post 0.52 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Nuveen LLC bought a new position in Gladstone Land during the 1st quarter valued at about $850,000. Ballentine Partners LLC bought a new stake in Gladstone Land during the second quarter worth about $405,000. Goldman Sachs Group Inc. increased its holdings in shares of Gladstone Land by 5.9% during the first quarter. Goldman Sachs Group Inc. now owns 407,183 shares of the real estate investment trust’s stock worth $4,284,000 after buying an additional 22,557 shares in the last quarter. Allianz Asset Management GmbH raised its stake in shares of Gladstone Land by 1.5% in the second quarter. Allianz Asset Management GmbH now owns 101,376 shares of the real estate investment trust’s stock valued at $1,031,000 after acquiring an additional 1,502 shares during the last quarter. Finally, Invenomic Capital Management LP acquired a new position in shares of Gladstone Land in the 1st quarter worth approximately $638,000. 53.60% of the stock is owned by institutional investors.

About Gladstone Land

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.