Gladstone Land Co. (NASDAQ:LAND) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Gladstone Land Co. (NASDAQ:LAND) have earned a consensus recommendation of “Moderate Buy” from the four brokerages that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $16.00.

Several brokerages have recently commented on LAND. Alliance Global Partners started coverage on Gladstone Land in a research report on Tuesday, June 11th. They issued a “buy” rating and a $16.00 target price for the company. Oppenheimer dropped their target price on shares of Gladstone Land from $20.00 to $16.00 and set an “outperform” rating on the stock in a report on Wednesday, May 15th. Finally, Maxim Group downgraded shares of Gladstone Land from a “buy” rating to a “hold” rating in a research report on Monday, August 12th.

Gladstone Land Trading Up 0.8 %

LAND opened at $13.50 on Friday. The stock has a market capitalization of $483.81 million, a PE ratio of 225.00, a P/E/G ratio of 4.03 and a beta of 1.08. The company has a debt-to-equity ratio of 0.76, a current ratio of 6.14 and a quick ratio of 6.14. Gladstone Land has a 12-month low of $12.31 and a 12-month high of $16.12. The firm’s fifty day moving average price is $14.02 and its 200 day moving average price is $13.45.

Gladstone Land Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 20th will be paid a dividend of $0.0467 per share. This represents a $0.56 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date of this dividend is Friday, September 20th. Gladstone Land’s payout ratio is 933.33%.

Institutional Investors Weigh In On Gladstone Land

A number of hedge funds have recently made changes to their positions in the business. International Assets Investment Management LLC bought a new stake in Gladstone Land during the 4th quarter valued at $727,000. Tidal Investments LLC bought a new stake in shares of Gladstone Land during the first quarter valued at about $652,000. GSA Capital Partners LLP lifted its holdings in Gladstone Land by 216.8% in the first quarter. GSA Capital Partners LLP now owns 70,383 shares of the real estate investment trust’s stock worth $939,000 after purchasing an additional 48,167 shares during the period. Pullen Investment Management LLC bought a new position in Gladstone Land in the 1st quarter valued at about $617,000. Finally, Quest Partners LLC acquired a new position in Gladstone Land during the 4th quarter valued at about $399,000. Institutional investors 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.