Gladstone Land (NASDAQ:LAND) Upgraded by Lucid Cap Mkts to “Strong-Buy” Rating

Lucid Cap Mkts upgraded shares of Gladstone Land (NASDAQ:LAND) from a hold rating to a strong-buy rating in a research report released on Thursday morning,Zacks.com reports.

A number of other brokerages also recently issued reports on LAND. Weiss Ratings downgraded shares of Gladstone Land from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday. Zacks Research cut shares of Gladstone Land from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 10th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $10.00.

Gladstone Land Price Performance

Shares of NASDAQ LAND opened at $9.44 on Thursday. The business has a fifty day moving average price of $10.48 and a two-hundred day moving average price of $10.05. The stock has a market capitalization of $407.24 million, a PE ratio of -15.48 and a beta of 1.07. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.47 and a quick ratio of 1.24. Gladstone Land has a fifty-two week low of $8.47 and a fifty-two week high of $13.00.

Gladstone Land (NASDAQ:LAND) last released its earnings results on Monday, May 11th. The real estate investment trust reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.02). The company had revenue of $16.55 million for the quarter, compared to analyst estimates of $14.20 million. Gladstone Land had a negative return on equity of 0.87% and a negative net margin of 6.68%. As a group, equities analysts predict that Gladstone Land will post 0.43 earnings per share for the current fiscal year.

Gladstone Land Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd will be issued a dividend of $0.0467 per share. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a c) dividend on an annualized basis and a dividend yield of 5.9%. Gladstone Land’s payout ratio is -91.80%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of LAND. Renaissance Technologies LLC acquired a new position in Gladstone Land during the first quarter worth about $5,165,000. Public Employees Retirement System of Ohio boosted its stake in shares of Gladstone Land by 237.6% in the 1st quarter. Public Employees Retirement System of Ohio now owns 40,055 shares of the real estate investment trust’s stock valued at $409,000 after purchasing an additional 28,191 shares in the last quarter. Inceptionr LLC bought a new stake in shares of Gladstone Land during the 1st quarter valued at approximately $151,000. Cetera Investment Advisers increased its position in Gladstone Land by 10.6% during the 1st quarter. Cetera Investment Advisers now owns 42,584 shares of the real estate investment trust’s stock worth $434,000 after purchasing an additional 4,080 shares in the last quarter. Finally, Sigma Planning Corp increased its position in Gladstone Land by 13.6% during the 1st quarter. Sigma Planning Corp now owns 20,243 shares of the real estate investment trust’s stock worth $206,000 after purchasing an additional 2,417 shares in the last quarter. Institutional investors 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.