Gladstone Land Corporation (NASDAQ:LAND – Get Free Report) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $10.06 and traded as low as $9.18. Gladstone Land shares last traded at $9.19, with a volume of 578,125 shares trading hands.
Analyst Upgrades and Downgrades
LAND has been the subject of a number of recent research reports. Weiss Ratings lowered Gladstone Land from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 13th. Zacks Research lowered Gladstone Land from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 10th. Lucid Cap Mkts upgraded Gladstone Land from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 14th. Finally, Wall Street Zen lowered Gladstone Land from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. One research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Gladstone Land presently has an average rating of “Hold” and an average price target of $10.00.
Get Our Latest Report on Gladstone Land
Gladstone Land Stock Down 0.6%
Gladstone Land (NASDAQ:LAND – Get Free Report) last released its quarterly earnings data on Monday, May 11th. The real estate investment trust reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.02). Gladstone Land had a negative net margin of 6.68% and a negative return on equity of 0.87%. The firm had revenue of $16.55 million during the quarter, compared to analysts’ expectations of $14.20 million. On average, analysts predict that Gladstone Land Corporation will post 0.45 earnings per share for the current year.
Gladstone Land Dividend Announcement
The firm also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd will be paid a dividend of $0.0467 per share. This represents a c) annualized dividend and a dividend yield of 6.0%. The ex-dividend date of this dividend is Tuesday, June 23rd. Gladstone Land’s dividend payout ratio is presently -91.80%.
Institutional Investors Weigh In On Gladstone Land
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. grew its stake in shares of Gladstone Land by 5.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 21,381 shares of the real estate investment trust’s stock valued at $196,000 after buying an additional 1,066 shares during the period. Sigma Planning Corp boosted its holdings in Gladstone Land by 7.0% during the 4th quarter. Sigma Planning Corp now owns 17,826 shares of the real estate investment trust’s stock valued at $163,000 after acquiring an additional 1,161 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Gladstone Land by 9.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,763 shares of the real estate investment trust’s stock valued at $140,000 after acquiring an additional 1,183 shares during the period. Parallel Advisors LLC boosted its holdings in Gladstone Land by 40.1% during the 3rd quarter. Parallel Advisors LLC now owns 4,840 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 1,386 shares during the period. Finally, Abel Hall LLC boosted its holdings in Gladstone Land by 7.4% in the first quarter. Abel Hall LLC now owns 21,704 shares of the real estate investment trust’s stock valued at $221,000 after purchasing an additional 1,498 shares during the period. Hedge funds and other institutional investors own 53.60% of the company’s stock.
Gladstone Land Company Profile
Gladstone Land Corporation (NASDAQ: LAND) is a publicly traded real estate investment trust (REIT) that specializes in the acquisition and ownership of farmland in the United States. Established in 2013 and headquartered in Wayne, Pennsylvania, the company focuses on purchasing high-quality agricultural properties and leasing them to farmers under long‐term, triple‐net lease agreements. This model provides tenants with operational flexibility while generating stable, recurring rental income for investors.
The company’s portfolio spans several key agricultural regions across the country, including California, the Midwest, and parts of the Southeast.
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