Gladstone Land (NASDAQ:LAND) Releases Earnings Results, Misses Expectations By $0.02 EPS

Gladstone Land (NASDAQ:LAND) released its earnings results on Monday. The real estate investment trust reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.02), FiscalAI reports. The business had revenue of $16.55 million during the quarter, compared to analysts’ expectations of $14.20 million. Gladstone Land had a net margin of 15.31% and a return on equity of 2.01%.

Gladstone Land Stock Performance

Shares of NASDAQ:LAND traded down $0.32 during midday trading on Monday, hitting $9.42. The company’s stock had a trading volume of 565,450 shares, compared to its average volume of 665,917. The stock has a market capitalization of $395.05 million, a price-to-earnings ratio of -78.45 and a beta of 1.07. The stock’s 50 day simple moving average is $10.75 and its 200 day simple moving average is $10.03. Gladstone Land has a fifty-two week low of $8.47 and a fifty-two week high of $13.00. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.24 and a current ratio of 1.24.

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 given a $0.0467 dividend. This represents a c) annualized dividend and a dividend yield of 6.0%. The ex-dividend date of this dividend is Tuesday, June 23rd. Gladstone Land’s dividend payout ratio (DPR) is currently -466.67%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on LAND. Zacks Research lowered Gladstone Land from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 10th. Weiss Ratings upgraded Gladstone Land from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, March 2nd. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $10.00.

Institutional Investors Weigh In On Gladstone Land

Several hedge funds and other institutional investors have recently made changes to their positions in LAND. Marshall Wace LLP acquired a new stake in shares of Gladstone Land in the fourth quarter valued at about $2,476,000. NewEdge Advisors LLC grew its position in shares of Gladstone Land by 1,521.9% in the third quarter. NewEdge Advisors LLC now owns 266,414 shares of the real estate investment trust’s stock valued at $2,440,000 after purchasing an additional 249,988 shares during the last quarter. Millennium Management LLC grew its position in shares of Gladstone Land by 570.2% in the third quarter. Millennium Management LLC now owns 283,538 shares of the real estate investment trust’s stock valued at $2,597,000 after purchasing an additional 241,231 shares during the last quarter. Global Strategic Management Inc. acquired a new stake in shares of Gladstone Land in the fourth quarter valued at about $1,420,000. Finally, ExodusPoint Capital Management LP acquired a new stake in shares of Gladstone Land in the fourth quarter valued at about $938,000. 53.60% of the stock is owned by institutional investors and hedge funds.

Gladstone Land Company Profile

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.