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

Shares of Gladstone Land Co. (NASDAQ:LAND) have received a consensus recommendation of “Moderate Buy” from the four ratings firms that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $16.00.

Several research analysts have recently commented on the company. Maxim Group downgraded Gladstone Land from a “buy” rating to a “hold” rating in a report on Monday, August 12th. Alliance Global Partners assumed coverage on Gladstone Land in a report on Tuesday, June 11th. They issued a “buy” rating and a $16.00 price objective on the stock.

Gladstone Land Stock Down 0.9 %

LAND opened at $14.43 on Thursday. The company has a market cap of $517.14 million, a P/E ratio of 240.50, a P/E/G ratio of 4.47 and a beta of 1.07. The business’s 50-day moving average price is $14.15 and its 200-day moving average price is $13.52. The company has a current ratio of 4.43, a quick ratio of 4.43 and a debt-to-equity ratio of 0.78. Gladstone Land has a 12 month low of $12.31 and a 12 month high of $15.36.

Gladstone Land Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 20th will be paid a $0.0467 dividend. The ex-dividend date of this dividend is Friday, September 20th. This represents a $0.56 annualized dividend and a dividend yield of 3.88%. Gladstone Land’s payout ratio is presently 933.33%.

Institutional Trading of Gladstone Land

Several large investors have recently modified their holdings of LAND. Quadrant Capital Group LLC grew its stake in shares of Gladstone Land by 250.2% in the fourth quarter. Quadrant Capital Group LLC now owns 2,290 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 1,636 shares during the last quarter. Signaturefd LLC boosted its position in Gladstone Land by 3,910.3% during the 2nd quarter. Signaturefd LLC now owns 3,128 shares of the real estate investment trust’s stock valued at $43,000 after acquiring an additional 3,050 shares in the last quarter. M&G Plc bought a new stake in Gladstone Land during the 1st quarter valued at approximately $138,000. LRI Investments LLC bought a new stake in Gladstone Land during the 1st quarter valued at approximately $149,000. Finally, Millburn Ridgefield Corp boosted its position in Gladstone Land by 7.6% during the 1st quarter. Millburn Ridgefield Corp now owns 12,559 shares of the real estate investment trust’s stock valued at $168,000 after acquiring an additional 885 shares in the last quarter. 53.60% of the stock is owned by institutional investors.

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.