Gladstone Land Corporation (LAND) Stock Rating Reaffirmed by Ladenburg Thalmann Financial Services

Ladenburg Thalmann Financial Services restated their buy rating on shares of Gladstone Land Corporation (NASDAQ:LAND) in a research report released on Monday morning. The brokerage currently has a $14.00 price objective on the real estate investment trust’s stock, up from their prior price objective of $13.00. The analysts noted that the move was a valuation call.

Separately, Zacks Investment Research lowered Gladstone Land Corporation from a buy rating to a hold rating in a research note on Tuesday, May 30th.

Shares of Gladstone Land Corporation (NASDAQ:LAND) opened at 13.24 on Monday. The stock’s 50 day moving average price is $13.12 and its 200 day moving average price is $11.76. Gladstone Land Corporation has a one year low of $9.51 and a one year high of $14.09. The stock has a market capitalization of $159.03 million, a PE ratio of 287.83 and a beta of 1.00.

Gladstone Land Corporation (NASDAQ:LAND) last issued its quarterly earnings results on Tuesday, August 8th. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.04). The firm had revenue of $6.00 million during the quarter. Gladstone Land Corporation had a return on equity of 0.57% and a net margin of 2.58%. Equities research analysts predict that Gladstone Land Corporation will post $0.06 EPS for the current fiscal year.

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The company also recently declared a monthly dividend, which will be paid on Friday, September 29th. Stockholders of record on Wednesday, September 20th will be paid a $0.044 dividend. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date is Tuesday, September 19th. Gladstone Land Corporation’s dividend payout ratio is presently 1,060.21%.

Several large investors have recently modified their holdings of the company. Royal Bank of Canada boosted its stake in shares of Gladstone Land Corporation by 81.4% in the second quarter. Royal Bank of Canada now owns 10,710 shares of the real estate investment trust’s stock worth $125,000 after acquiring an additional 4,806 shares during the last quarter. Vanguard Group Inc. lifted its position in Gladstone Land Corporation by 2.4% during the second quarter. Vanguard Group Inc. now owns 309,464 shares of the real estate investment trust’s stock worth $3,612,000 after buying an additional 7,356 shares in the last quarter. Northern Trust Corp lifted its position in Gladstone Land Corporation by 16.8% during the second quarter. Northern Trust Corp now owns 53,439 shares of the real estate investment trust’s stock worth $624,000 after buying an additional 7,673 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Gladstone Land Corporation by 113.1% during the second quarter. JPMorgan Chase & Co. now owns 21,073 shares of the real estate investment trust’s stock worth $246,000 after buying an additional 11,183 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its position in Gladstone Land Corporation by 5.3% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 15,996 shares of the real estate investment trust’s stock worth $187,000 after buying an additional 804 shares in the last quarter. 21.11% of the stock is currently owned by hedge funds and other institutional investors.

Gladstone Land Corporation Company Profile

Gladstone Land Corporation is an agricultural real estate investment trust (REIT). The Company is engaged in the business of owning and leasing farmland. The Company also owns various farm-related facilities, such as cooling facilities, buildings utilized for the storage and assembly of boxes for shipping produce (box barns), packinghouses, processing facilities and various storage facilities.

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