Gladstone Land (NASDAQ:LAND) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Gladstone Land (NASDAQ:LAND) from a strong sell rating to a hold rating in a research note issued to investors on Saturday,Wall Street Zen reports.

Separately, Weiss Ratings upgraded shares of Gladstone Land from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Gladstone Land currently has a consensus rating of “Hold”.

Gladstone Land Stock Down 2.0%

Shares of LAND traded down $0.14 during trading hours on Friday, reaching $6.88. The stock had a trading volume of 1,615,397 shares, compared to its average volume of 1,115,046. The firm has a 50-day simple moving average of $8.84 and a 200 day simple moving average of $9.52. Gladstone Land has a 12 month low of $6.59 and a 12 month high of $13.00. The company has a current ratio of 0.33, a quick ratio of 1.29 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $297.84 million, a price-to-earnings ratio of -19.66 and a beta of 1.17.

Gladstone Land (NASDAQ:LAND) last announced its quarterly earnings results on Tuesday, November 10th. The real estate investment trust reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.27. Gladstone Land had a net margin of 2.42% and a return on equity of 0.37%. The business had revenue of $31.47 million during the quarter, compared to analyst estimates of $16.54 million. Equities research analysts predict that Gladstone Land will post 0.48 earnings per share for the current fiscal year.

Gladstone Land Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Monday, December 21st will be issued a $0.0467 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 8.1%. The ex-dividend date is Monday, December 21st. Gladstone Land’s dividend payout ratio (DPR) is currently -160.00%.

Institutional Investors Weigh In On Gladstone Land

Several institutional investors have recently bought and sold shares of the stock. Resona Asset Management Co. Ltd. raised its position in Gladstone Land by 16.2% in the 3rd quarter. Resona Asset Management Co. Ltd. now owns 17,720 shares of the real estate investment trust’s stock valued at $168,000 after buying an additional 2,473 shares during the last quarter. Private Advisor Group LLC bought a new position in Gladstone Land during the 3rd quarter valued at $143,000. Ieq Capital LLC boosted its holdings in Gladstone Land by 72.1% during the 3rd quarter. Ieq Capital LLC now owns 66,868 shares of the real estate investment trust’s stock worth $633,000 after acquiring an additional 28,003 shares during the last quarter. Cibc World Market Inc. purchased a new position in Gladstone Land during the 3rd quarter worth $418,000. Finally, Russell Investments Group Ltd. boosted its holdings in Gladstone Land by 13.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 25,274 shares of the real estate investment trust’s stock worth $239,000 after acquiring an additional 3,088 shares during the last quarter. Institutional investors own 53.60% of the company’s stock.

Gladstone Land Company Profile

Gladstone Land Corporation is a real estate investment trust focused on owning and leasing U.S. farmland. Its portfolio includes farms used to grow fresh produce and permanent crops, such as fruits and nuts, as well as land devoted to traditional row crops. The company generally leases its properties to farmers under long-term agreements. Its farms are located across multiple agricultural regions of the United States, and its portfolio may include related assets such as irrigation and water rights.