Zacks Investment Research cut shares of Gladstone Land Corporation (NASDAQ:LAND) from a buy rating to a hold rating in a research note issued to investors on Friday.
According to Zacks, “Gladstone Land Corporation is a real estate investment trust. The company acquires and leases farmland to corporate and independent farmers. Its properties are situated in California and Florida. Gladstone Land Corporation is based in McLean, Virginia. “
LAND has been the subject of a number of other research reports. Ladenburg Thalmann Financial Services restated a buy rating and set a $14.00 target price (up previously from $13.00) on shares of Gladstone Land Corporation in a research note on Monday, September 18th. They noted that the move was a valuation call. Hilliard Lyons cut shares of Gladstone Land Corporation from a buy rating to a neutral rating in a research note on Wednesday, November 8th.
Shares of Gladstone Land Corporation (NASDAQ:LAND) opened at $13.72 on Friday. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market cap of $186.98, a PE ratio of 24.70 and a beta of 0.98. Gladstone Land Corporation has a 12 month low of $10.34 and a 12 month high of $14.29.
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The business also recently announced a monthly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Monday, November 20th will be paid a dividend of $0.0441 per share. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date of this dividend is Friday, November 17th. Gladstone Land Corporation’s dividend payout ratio is presently 1,767.26%.
Institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. raised its stake in Gladstone Land Corporation by 10.4% in the 1st quarter. JPMorgan Chase & Co. now owns 9,890 shares of the real estate investment trust’s stock worth $110,000 after purchasing an additional 929 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in Gladstone Land Corporation by 9.6% in the 2nd quarter. Janney Montgomery Scott LLC now owns 31,841 shares of the real estate investment trust’s stock worth $372,000 after purchasing an additional 2,790 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Gladstone Land Corporation by 13.8% in the 1st quarter. Bank of New York Mellon Corp now owns 47,587 shares of the real estate investment trust’s stock worth $528,000 after purchasing an additional 5,786 shares in the last quarter. Foster & Motley Inc. raised its stake in Gladstone Land Corporation by 6.9% in the 2nd quarter. Foster & Motley Inc. now owns 223,510 shares of the real estate investment trust’s stock worth $2,608,000 after purchasing an additional 14,507 shares in the last quarter. Finally, Stelac Advisory Services LLC raised its stake in Gladstone Land Corporation by 4.9% in the 2nd quarter. Stelac Advisory Services LLC now owns 11,849 shares of the real estate investment trust’s stock worth $138,000 after purchasing an additional 552 shares in the last quarter. Institutional investors and hedge funds own 20.18% of the company’s stock.
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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