Zacks: Analysts Anticipate Gladstone Land Corp (LAND) Will Announce Earnings of $0.18 Per Share
Brokerages predict that Gladstone Land Corp (NASDAQ:LAND) will announce $0.18 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for Gladstone Land Corp’s earnings. Gladstone Land Corp reported earnings per share of $0.14 in the same quarter last year, which would indicate a positive year over year growth rate of 28.6%. The company is scheduled to announce its next earnings report on Tuesday, August 1st.
On average, analysts expect that Gladstone Land Corp will report full year earnings of $0.65 per share for the current year, with EPS estimates ranging from $0.63 to $0.69. For the next fiscal year, analysts forecast that the business will post earnings of $0.73 per share, with EPS estimates ranging from $0.65 to $0.80. Zacks’ earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Gladstone Land Corp.
Gladstone Land Corp (NASDAQ:LAND) last posted its quarterly earnings results on Tuesday, February 21st. The real estate investment trust reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.14 by $0.13. The company had revenue of $4.92 million during the quarter, compared to analysts’ expectations of $5.43 million. Gladstone Land Corp had a return on equity of 0.92% and a net margin of 4.80%.
A number of equities analysts recently commented on LAND shares. Zacks Investment Research raised shares of Gladstone Land Corp from a “sell” rating to a “hold” rating in a research note on Thursday, March 23rd. Singular Research started coverage on shares of Gladstone Land Corp in a research note on Thursday. They issued a “buy” rating and a $14.25 price objective for the company.
In other news, CEO David Gladstone purchased 20,000 shares of the business’s stock in a transaction on Monday, March 13th. The shares were acquired at an average cost of $11.15 per share, with a total value of $223,000.00. Following the completion of the acquisition, the chief executive officer now owns 1,968,585 shares of the company’s stock, valued at $21,949,722.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders purchased 21,150 shares of company stock valued at $235,689 in the last three months. 21.67% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in LAND. Bank of America Corp DE raised its position in Gladstone Land Corp by 1.2% in the first quarter. Bank of America Corp DE now owns 9,618 shares of the real estate investment trust’s stock valued at $107,000 after buying an additional 118 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new position in Gladstone Land Corp during the first quarter valued at about $234,000. Renaissance Technologies LLC raised its position in Gladstone Land Corp by 18.3% in the first quarter. Renaissance Technologies LLC now owns 445,700 shares of the real estate investment trust’s stock valued at $4,947,000 after buying an additional 68,800 shares in the last quarter. Morgan Stanley raised its position in Gladstone Land Corp by 7.5% in the first quarter. Morgan Stanley now owns 13,489 shares of the real estate investment trust’s stock valued at $150,000 after buying an additional 939 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its position in Gladstone Land Corp by 22.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 15,192 shares of the real estate investment trust’s stock valued at $169,000 after buying an additional 2,830 shares in the last quarter. 25.88% of the stock is currently owned by institutional investors and hedge funds.
Gladstone Land Corp (NASDAQ:LAND) traded up 0.136% during mid-day trading on Friday, hitting $11.085. The company had a trading volume of 2,529 shares. Gladstone Land Corp has a 1-year low of $9.51 and a 1-year high of $12.89. The company has a 50 day moving average of $11.11 and a 200 day moving average of $11.31. The firm has a market capitalization of $111.12 million, a PE ratio of 246.333 and a beta of 0.98.
The firm also recently disclosed a monthly dividend, which will be paid on Friday, June 30th. Investors of record on Wednesday, June 21st will be paid a $0.0435 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 4.72%. The ex-dividend date is Monday, June 19th. Gladstone Land Corp’s dividend payout ratio (DPR) is 742.86%.
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Gladstone Land Corp 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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