Gladstone Land Co. (NASDAQ:LAND) Given Consensus Rating of “Moderate Buy” by Brokerages

Gladstone Land Co. (NASDAQ:LAND) has received a consensus rating of “Moderate Buy” from the four analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $16.00.

A number of equities analysts have weighed in on the company. Oppenheimer lowered their price target on Gladstone Land from $20.00 to $16.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 15th. Maxim Group lowered their price target on Gladstone Land from $19.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Finally, Alliance Global Partners assumed coverage on Gladstone Land in a research report on Tuesday, June 11th. They set a “buy” rating and a $16.00 price target on the stock.

Gladstone Land Price Performance

Shares of NASDAQ LAND opened at $13.55 on Friday. The business’s 50 day moving average price is $13.31 and its two-hundred day moving average price is $13.42. The company has a market cap of $485.63 million, a PE ratio of 225.87, a price-to-earnings-growth ratio of 3.75 and a beta of 1.08. The company has a quick ratio of 6.14, a current ratio of 6.14 and a debt-to-equity ratio of 0.76. Gladstone Land has a twelve month low of $12.31 and a twelve month high of $17.44.

Gladstone Land Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Friday, June 28th. Stockholders of record on Wednesday, June 19th were given a $0.0466 dividend. The ex-dividend date was Tuesday, June 18th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.13%. Gladstone Land’s payout ratio is presently 933.49%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. raised its stake in Gladstone Land by 1.7% in the fourth quarter. Victory Capital Management Inc. now owns 48,661 shares of the real estate investment trust’s stock valued at $703,000 after purchasing an additional 824 shares in the last quarter. Millburn Ridgefield Corp raised its stake in Gladstone Land by 7.6% during the first quarter. Millburn Ridgefield Corp now owns 12,559 shares of the real estate investment trust’s stock worth $168,000 after acquiring an additional 885 shares in the last quarter. Quadrant Capital Group LLC raised its stake in Gladstone Land by 250.2% during the fourth quarter. Quadrant Capital Group LLC now owns 2,290 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 1,636 shares in the last quarter. Kovack Advisors Inc. raised its stake in Gladstone Land by 11.0% during the fourth quarter. Kovack Advisors Inc. now owns 16,735 shares of the real estate investment trust’s stock worth $242,000 after acquiring an additional 1,653 shares in the last quarter. Finally, Hunter Perkins Capital Management LLC raised its stake in Gladstone Land by 4.5% during the fourth quarter. Hunter Perkins Capital Management LLC now owns 39,725 shares of the real estate investment trust’s stock worth $574,000 after acquiring an additional 1,700 shares in the last quarter. Institutional investors and hedge funds own 53.60% of the company’s stock.

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.