Gladstone Land (NASDAQ:LAND) Upgraded at Zacks Research
Zacks Research upgraded Gladstone Land (NASDAQ:LAND) from a "hold" to "strong-buy" rating. Other analysts have mixed ratings, with a consensus price target of $10.00. Gladstone Land's stock opened at $9.72, with a market cap of $362.24 million. The company reported better-than-expected earnings and has significant institutional investment. Gladstone Land owns 169 farms across the U.S., valued at $1.6 billion.
Gladstone Land (NASDAQ:LAND - Get Free Report) was upgraded by stock analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report issued on Wednesday,Zacks.com reports.
A number of other equities research analysts also recently issued reports on LAND. Weiss Ratings reissued a "sell (d)" rating on shares of Gladstone Land in a research report on Wednesday, October 8th. Industrial Alliance Securities set a $10.00 target price on Gladstone Land in a report on Tuesday. Finally, Alliance Global Partners reissued a "neutral" rating on shares of Gladstone Land in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $10.00.
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Gladstone Land Stock Down 1.7%
Shares of Gladstone Land stock opened at $9.72 on Wednesday. Gladstone Land has a twelve month low of $8.47 and a twelve month high of $12.24. The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 0.74. The company's 50 day moving average is $9.18 and its 200 day moving average is $9.55. The company has a market cap of $362.24 million, a price-to-earnings ratio of -22.09, a price-to-earnings-growth ratio of 6.75 and a beta of 1.14.
Gladstone Land (NASDAQ:LAND - Get Free Report) last announced its earnings results on Wednesday, November 5th. The real estate investment trust reported $0.04 earnings per share for the quarter, beating analysts' consensus estimates of ($0.03) by $0.07. Gladstone Land had a net margin of 10.69% and a return on equity of 1.14%. The business had revenue of $17.79 million during the quarter, compared to analyst estimates of $15.08 million. Research analysts anticipate that Gladstone Land will post 0.52 EPS for the current year.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the business. Nuveen LLC bought a new stake in Gladstone Land in the first quarter worth $850,000. Allianz Asset Management GmbH grew its position in Gladstone Land by 8.7% in the first quarter. Allianz Asset Management GmbH now owns 99,874 shares of the real estate investment trust's stock worth $1,051,000 after acquiring an additional 7,998 shares in the last quarter. Ballentine Partners LLC bought a new stake in shares of Gladstone Land in the 2nd quarter valued at approximately $405,000. Goldman Sachs Group Inc. increased its position in shares of Gladstone Land by 5.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 407,183 shares of the real estate investment trust's stock valued at $4,284,000 after purchasing an additional 22,557 shares during the last quarter. Finally, Signaturefd LLC increased its position in Gladstone Land by 73.5% during the first quarter. Signaturefd LLC now owns 4,924 shares of the real estate investment trust's stock valued at $52,000 after acquiring an additional 2,086 shares during the last quarter. 53.60% of the stock is owned by hedge funds and other institutional investors.
Gladstone Land Company Profile
(Get Free Report)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.
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