Brokerages expect Gladstone Land Corp (NASDAQ:LAND) to post $0.14 earnings per share for the current quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Gladstone Land’s earnings. Gladstone Land also reported earnings per share of $0.14 in the same quarter last year. The firm is scheduled to announce its next quarterly earnings results on Tuesday, May 8th.
According to Zacks, analysts expect that Gladstone Land will report full year earnings of $0.62 per share for the current year, with EPS estimates ranging from $0.60 to $0.63. For the next year, analysts anticipate that the business will post earnings of $0.67 per share, with EPS estimates ranging from $0.65 to $0.69. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Gladstone Land.
LAND has been the subject of several recent analyst reports. Zacks Investment Research downgraded shares of Gladstone Land from a “hold” rating to a “sell” rating in a research note on Tuesday, November 21st. Ladenburg Thalmann Financial Services reiterated a “buy” rating and issued a $15.00 target price (up from $14.00) on shares of Gladstone Land in a research note on Friday, December 8th. Finally, ValuEngine upgraded shares of Gladstone Land from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $14.63.
The company also recently announced a monthly dividend, which will be paid on Friday, March 30th. Investors of record on Tuesday, March 20th will be paid a $0.0443 dividend. The ex-dividend date is Monday, March 19th. This represents a $0.53 annualized dividend and a yield of 4.05%.
In other news, Director Walter H. Wilkinson bought 4,700 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was acquired at an average cost of $12.58 per share, for a total transaction of $59,126.00. Following the purchase, the director now owns 9,791 shares of the company’s stock, valued at approximately $123,170.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 21.87% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Gladstone Land by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 309,464 shares of the real estate investment trust’s stock valued at $3,612,000 after acquiring an additional 7,356 shares during the period. Alliancebernstein L.P. bought a new position in Gladstone Land in the 4th quarter valued at about $2,234,000. JPMorgan Chase & Co. raised its holdings in Gladstone Land by 488.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 123,985 shares of the real estate investment trust’s stock valued at $1,697,000 after acquiring an additional 102,912 shares during the period. Millennium Management LLC raised its holdings in Gladstone Land by 8.0% in the 4th quarter. Millennium Management LLC now owns 67,612 shares of the real estate investment trust’s stock valued at $908,000 after acquiring an additional 5,037 shares during the period. Finally, Northern Trust Corp raised its holdings in Gladstone Land by 16.8% in the 2nd quarter. Northern Trust Corp now owns 53,439 shares of the real estate investment trust’s stock valued at $624,000 after acquiring an additional 7,673 shares during the period. 26.39% of the stock is currently owned by hedge funds and other institutional investors.
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Gladstone Land Company Profile
Gladstone Land Corporation is an agricultural real estate investment trust (REIT). The Company is engaged in the business of owning and leasing farmland. The Company also owns various farm-related facilities, such as cooling facilities, buildings utilized for the storage and assembly of boxes for shipping produce (box barns), packinghouses, processing facilities and various storage facilities.
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