Gladstone Land (NASDAQ:LAND) Lowered to “Strong Sell” Rating by Wall Street Zen

Wall Street Zen cut shares of Gladstone Land (NASDAQ:LAND) from a sell rating to a strong sell rating in a report released on Saturday morning.

A number of other brokerages have also commented on LAND. 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 raised Gladstone Land from a “hold” rating to a “strong-buy” rating in a research note on Thursday. Finally, Weiss Ratings lowered Gladstone Land from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Gladstone Land currently has an average rating of “Hold” and an average target price of $10.00.

Gladstone Land Stock Performance

LAND opened at $9.40 on Friday. The firm has a market cap of $405.52 million, a P/E ratio of -15.41 and a beta of 1.07. Gladstone Land has a 52-week low of $8.47 and a 52-week high of $13.00. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.24 and a current ratio of 0.47. The business’s fifty day moving average is $10.42 and its 200-day moving average is $10.05.

Gladstone Land (NASDAQ:LAND) last released its earnings results on Monday, May 11th. The real estate investment trust reported ($0.24) earnings per share (EPS) 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 business had revenue of $16.55 million during the quarter, compared to the consensus estimate of $14.20 million. Sell-side analysts expect that Gladstone Land will post 0.43 EPS for the current fiscal year.

Gladstone Land Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd will be issued a dividend of $0.0467 per share. The ex-dividend date is Tuesday, June 23rd. This represents a c) annualized dividend and a dividend yield of 6.0%. Gladstone Land’s payout ratio is currently -91.80%.

Institutional Investors Weigh In On Gladstone Land

Hedge funds and other institutional investors have recently modified their holdings of the company. Parallel Advisors LLC grew its holdings in Gladstone Land by 40.1% during the third quarter. Parallel Advisors LLC now owns 4,840 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 1,386 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Gladstone Land by 164.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,051 shares of the real estate investment trust’s stock worth $55,000 after acquiring an additional 3,761 shares during the last quarter. Strs Ohio purchased a new position in Gladstone Land during the 1st quarter worth $63,000. Versant Capital Management Inc boosted its holdings in Gladstone Land by 699.6% during the 3rd quarter. Versant Capital Management Inc now owns 7,764 shares of the real estate investment trust’s stock worth $71,000 after acquiring an additional 6,793 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in Gladstone Land by 348.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,845 shares of the real estate investment trust’s stock worth $90,000 after acquiring an additional 6,871 shares during the last quarter. 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.