Gladstone Land Co. (NASDAQ:LAND – Get Rating) was the target of a significant decrease in short interest in the month of April. As of April 30th, there was short interest totalling 985,800 shares, a decrease of 5.2% from the April 15th total of 1,040,000 shares. Based on an average daily volume of 226,300 shares, the short-interest ratio is currently 4.4 days.
Wall Street Analysts Forecast Growth
Several analysts recently commented on the company. B. Riley dropped their target price on Gladstone Land from $27.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, February 23rd. Oppenheimer raised Gladstone Land from a “market perform” rating to an “outperform” rating and lowered their price objective for the stock from $25.00 to $22.00 in a research note on Wednesday, February 22nd. StockNews.com began coverage on Gladstone Land in a research note on Thursday, March 16th. They issued a “sell” rating on the stock. Finally, EF Hutton Acquisition Co. I cut their price objective on Gladstone Land from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, February 23rd.
Institutional Trading of Gladstone Land
A number of large investors have recently made changes to their positions in the company. Lazard Asset Management LLC acquired a new stake in Gladstone Land during the 4th quarter worth approximately $27,000. Great West Life Assurance Co. Can boosted its holdings in shares of Gladstone Land by 80.5% during the first quarter. Great West Life Assurance Co. Can now owns 1,565 shares of the real estate investment trust’s stock worth $61,000 after purchasing an additional 698 shares during the last quarter. MinichMacGregor Wealth Management LLC acquired a new stake in shares of Gladstone Land during the fourth quarter worth $29,000. Belpointe Asset Management LLC acquired a new stake in shares of Gladstone Land during the fourth quarter worth $30,000. Finally, Heritage Wealth Management LLC boosted its holdings in Gladstone Land by 100.0% in the fourth quarter. Heritage Wealth Management LLC now owns 1,710 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 855 shares during the last quarter. 45.31% of the stock is owned by institutional investors and hedge funds.
Gladstone Land Trading Down 1.3 %
LAND opened at $15.37 on Tuesday. Gladstone Land has a one year low of $14.95 and a one year high of $27.97. The company has a market cap of $548.92 million, a P/E ratio of -32.70, a PEG ratio of 3.49 and a beta of 1.02. The company has a debt-to-equity ratio of 0.86, a quick ratio of 3.76 and a current ratio of 3.76. The business’s 50-day simple moving average is $16.18 and its 200-day simple moving average is $18.22.
Gladstone Land Dividend Announcement
The company also recently announced a monthly dividend, which will be paid on Friday, June 30th. Investors of record on Wednesday, June 21st will be given a $0.046 dividend. The ex-dividend date is Tuesday, June 20th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 3.59%. Gladstone Land’s dividend payout ratio (DPR) is presently -117.02%.
Gladstone Land Company Profile
(Get Rating)
Gladstone Land Corp. is an agricultural real estate investment trust, which engages in the business of owning and leasing farmland. It also includes farm-related facilities, such as cooling facilities, packinghouses, processing facilities, and various storage facilities. The company was founded by David Gladstone on June 14, 1997 and is headquartered in McLean, VA.
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