Gladstone Land (NASDAQ:LAND) Price Target Cut to $16.00

Gladstone Land (NASDAQ:LAND) had its price objective reduced by stock analysts at Maxim Group from $19.00 to $16.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. Maxim Group’s price objective indicates a potential upside of 20.85% from the stock’s previous close.

Gladstone Land Trading Up 0.2 %

Shares of NASDAQ:LAND traded up $0.02 during trading on Thursday, reaching $13.24. 84,279 shares of the company traded hands, compared to its average volume of 196,757. The business’s fifty day moving average is $12.96 and its 200-day moving average is $13.66. Gladstone Land has a 52-week low of $12.31 and a 52-week high of $17.48. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $474.50 million, a price-to-earnings ratio of -49.19, a P/E/G ratio of 3.29 and a beta of 1.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quadrant Capital Group LLC raised its holdings in shares of 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 valued at $33,000 after purchasing an additional 1,636 shares during the last quarter. M&G Investment Management Ltd. purchased a new stake in shares of Gladstone Land during the 4th quarter valued at about $149,000. Millburn Ridgefield Corp raised its position in Gladstone Land by 7.6% in 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 during the period. OneAscent Financial Services LLC bought a new stake in Gladstone Land during the fourth quarter valued at about $170,000. Finally, Catalyst Capital Advisors LLC raised its position in shares of Gladstone Land by 28.6% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 12,064 shares of the real estate investment trust’s stock valued at $172,000 after purchasing an additional 2,685 shares during the period. Institutional investors own 53.60% of the company’s stock.

Gladstone Land Company Profile

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.