Gladstone Land (NASDAQ:LAND) released its earnings results on Tuesday. The real estate investment trust reported $0.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.14, Bloomberg Earnings reports. Gladstone Land had a return on equity of 0.25% and a net margin of 1.14%.
Shares of Gladstone Land (NASDAQ:LAND) traded down $0.15 during trading on Tuesday, reaching $12.36. The company’s stock had a trading volume of 138,603 shares, compared to its average volume of 76,583. The company has a market cap of $168.56, a P/E ratio of 618.00 and a beta of 0.89. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 2.48. Gladstone Land has a 12 month low of $10.77 and a 12 month high of $14.29.
The firm also recently disclosed a monthly dividend, which will be paid on Friday, March 30th. Shareholders of record on Tuesday, March 20th will be given a $0.0443 dividend. This represents a $0.53 annualized dividend and a yield of 4.30%. The ex-dividend date is Monday, March 19th. Gladstone Land’s dividend payout ratio (DPR) is presently 2,650.00%.
A hedge fund recently raised its stake in Gladstone Land stock. Northern Trust Corp raised its holdings in Gladstone Land Corp (NASDAQ:LAND) by 16.8% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 53,439 shares of the real estate investment trust’s stock after acquiring an additional 7,673 shares during the quarter. Northern Trust Corp owned approximately 0.45% of Gladstone Land worth $624,000 as of its most recent filing with the Securities & Exchange Commission. 26.09% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently weighed in on LAND shares. Ladenburg Thalmann Financial Services reissued a “buy” rating and set a $15.00 target price (up previously from $14.00) on shares of Gladstone Land in a research report on Friday, December 8th. Zacks Investment Research downgraded Gladstone Land from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. Finally, Hilliard Lyons downgraded Gladstone Land from a “buy” rating to a “neutral” rating in a research report on Wednesday, November 8th.
About Gladstone Land
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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