Gladstone Land (NASDAQ:LAND) Downgraded to “Hold” Rating by Zacks Research

Zacks Research downgraded shares of Gladstone Land (NASDAQ:LAND) from a strong-buy rating to a hold rating in a report published on Tuesday,Zacks.com reports.

Several other analysts have also recently commented on LAND. Alliance Global Partners reiterated a “neutral” rating on shares of Gladstone Land in a report on Tuesday, November 11th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Gladstone Land in a research note on Monday, December 29th. iA Financial set a $10.00 price objective on shares of Gladstone Land in a research report on Tuesday, November 11th. Finally, Wall Street Zen downgraded shares of Gladstone Land from a “hold” rating to a “sell” rating in a research note on Sunday, November 16th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $10.00.

Gladstone Land Stock Up 1.8%

Shares of NASDAQ:LAND opened at $11.15 on Tuesday. The firm has a market cap of $415.56 million, a P/E ratio of -50.68, a P/E/G ratio of 5.37 and a beta of 1.22. Gladstone Land has a 12-month low of $8.47 and a 12-month high of $11.93. The business has a fifty day simple moving average of $9.62 and a 200 day simple moving average of $9.32. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.73.

Gladstone Land Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 23rd will be issued a dividend of $0.0467 per share. The ex-dividend date is Monday, March 23rd. This represents a c) annualized dividend and a dividend yield of 5.0%. Gladstone Land’s payout ratio is currently -254.55%.

Institutional Trading of Gladstone Land

Several hedge funds have recently bought and sold shares of LAND. AlphaQuest LLC boosted its stake in Gladstone Land by 648.7% during the 3rd quarter. AlphaQuest LLC now owns 60,931 shares of the real estate investment trust’s stock valued at $558,000 after purchasing an additional 52,793 shares during the last quarter. Allianz Asset Management GmbH raised its stake in shares of Gladstone Land by 1.5% in the second quarter. Allianz Asset Management GmbH now owns 101,376 shares of the real estate investment trust’s stock worth $1,031,000 after purchasing an additional 1,502 shares during the last quarter. ProShare Advisors LLC bought a new position in shares of Gladstone Land in the second quarter valued at approximately $6,096,000. Nisa Investment Advisors LLC lifted its holdings in shares of Gladstone Land by 65.5% in the second quarter. Nisa Investment Advisors LLC now owns 14,577 shares of the real estate investment trust’s stock valued at $148,000 after purchasing an additional 5,768 shares in the last quarter. Finally, Accordant Advisory Group Inc boosted its position in shares of Gladstone Land by 4.4% during the second quarter. Accordant Advisory Group Inc now owns 259,580 shares of the real estate investment trust’s stock valued at $2,640,000 after buying an additional 10,897 shares during the last quarter. Institutional investors and hedge funds own 53.60% of the company’s stock.

About Gladstone Land

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.