Gladstone Land Corporation (NASDAQ:LAND) announced its earnings results on Tuesday. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by $0.04, Bloomberg Earnings reports. The company had revenue of $6 million for the quarter. Gladstone Land Corporation had a return on equity of 0.58% and a net margin of 2.58%.

Shares of Gladstone Land Corporation (NASDAQ LAND) traded up 0.08% during midday trading on Thursday, hitting $13.17. The stock had a trading volume of 111,696 shares. The stock has a market capitalization of $158.18 million, a price-to-earnings ratio of 313.57 and a beta of 1.03. Gladstone Land Corporation has a 52 week low of $9.51 and a 52 week high of $14.09. The stock has a 50 day moving average price of $11.77 and a 200-day moving average price of $11.57.

The business also recently announced a monthly dividend, which will be paid on Friday, September 29th. Stockholders of record on Wednesday, September 20th will be given a dividend of $0.044 per share. This represents a $0.53 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date is Tuesday, September 19th. Gladstone Land Corporation’s dividend payout ratio (DPR) is presently 1,060.21%.

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A number of equities research analysts have recently issued reports on LAND shares. Zacks Investment Research lowered Gladstone Land Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, May 30th. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating on shares of Gladstone Land Corporation in a research report on Wednesday, June 28th. Finally, Singular Research started coverage on Gladstone Land Corporation in a research report on Thursday, May 18th. They set a “buy” rating and a $14.25 target price on the stock.

In related news, CEO David Gladstone purchased 20,000 shares of the business’s stock in a transaction dated Wednesday, June 14th. The shares were bought at an average price of $11.38 per share, with a total value of $227,600.00. Following the purchase, the chief executive officer now directly owns 1,988,585 shares in the company, valued at approximately $22,630,097.30. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 21.87% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Bank of America Corp DE increased its stake in shares of Gladstone Land Corporation 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 during the last quarter. Stelac Advisory Services LLC increased its stake in shares of Gladstone Land Corporation by 2.3% in the first quarter. Stelac Advisory Services LLC now owns 11,297 shares of the real estate investment trust’s stock valued at $120,000 after buying an additional 250 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of Gladstone Land Corporation by 5.3% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 15,996 shares of the real estate investment trust’s stock valued at $187,000 after buying an additional 804 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Gladstone Land Corporation by 10.4% in the first quarter. JPMorgan Chase & Co. now owns 9,890 shares of the real estate investment trust’s stock valued at $110,000 after buying an additional 929 shares during the last quarter. Finally, Strs Ohio increased its stake in shares of Gladstone Land Corporation by 8.9% in the second quarter. Strs Ohio now owns 11,595 shares of the real estate investment trust’s stock valued at $135,000 after buying an additional 943 shares during the last quarter. 24.18% of the stock is currently owned by institutional investors and hedge funds.

Gladstone Land Corporation 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.

Earnings History for Gladstone Land Corporation (NASDAQ:LAND)

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