Gladstone Land Co. (NASDAQ:LAND – Get Rating) – Research analysts at B. Riley reduced their Q2 2023 earnings per share estimates for shares of Gladstone Land in a report released on Thursday, May 18th. B. Riley analyst C. Kucera now expects that the real estate investment trust will earn $0.08 per share for the quarter, down from their previous forecast of $0.11. B. Riley currently has a “Buy” rating and a $24.00 price target on the stock. The consensus estimate for Gladstone Land’s current full-year earnings is $0.73 per share. B. Riley also issued estimates for Gladstone Land’s Q3 2023 earnings at $0.17 EPS, Q4 2023 earnings at $0.18 EPS, FY2023 earnings at $0.61 EPS, Q1 2024 earnings at $0.16 EPS, Q2 2024 earnings at $0.09 EPS, Q3 2024 earnings at $0.18 EPS, Q4 2024 earnings at $0.19 EPS and FY2024 earnings at $0.62 EPS.
Other equities research analysts have also issued research reports about the company. StockNews.com assumed coverage on Gladstone Land in a research report on Thursday. They set a “sell” rating on the stock. EF Hutton Acquisition Co. I cut their price target on Gladstone Land from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, February 23rd. Finally, Oppenheimer upgraded Gladstone Land from a “market perform” rating to an “outperform” rating and cut their price target for the stock from $25.00 to $22.00 in a report on Wednesday, February 22nd.
Gladstone Land Stock Performance
Shares of Gladstone Land stock opened at $15.31 on Friday. Gladstone Land has a one year low of $14.95 and a one year high of $27.85. The company has a debt-to-equity ratio of 0.82, a quick ratio of 4.00 and a current ratio of 4.00. The stock’s 50-day moving average is $16.05 and its 200 day moving average is $18.14.
Gladstone Land Dividend Announcement
The firm also recently declared a monthly dividend, which will be paid on Friday, June 30th. Investors of record on Wednesday, June 21st will be given a dividend of $0.046 per share. This represents a $0.55 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date is Tuesday, June 20th. Gladstone Land’s payout ratio is -117.02%.
Institutional Trading of Gladstone Land
Institutional investors and hedge funds have recently modified their holdings of the business. UBS Group AG raised its stake in shares of Gladstone Land by 2,007.1% in the third quarter. UBS Group AG now owns 499,694 shares of the real estate investment trust’s stock valued at $9,045,000 after buying an additional 475,979 shares during the period. Wellington Management Group LLP bought a new stake in shares of Gladstone Land in the first quarter valued at $14,825,000. Vanguard Group Inc. raised its stake in shares of Gladstone Land by 6.3% in the first quarter. Vanguard Group Inc. now owns 3,353,943 shares of the real estate investment trust’s stock valued at $122,151,000 after buying an additional 198,148 shares during the period. Renaissance Technologies LLC raised its stake in shares of Gladstone Land by 491.0% in the second quarter. Renaissance Technologies LLC now owns 235,200 shares of the real estate investment trust’s stock valued at $5,212,000 after buying an additional 195,400 shares during the period. Finally, PFG Investments LLC bought a new stake in shares of Gladstone Land in the first quarter valued at $2,813,000. 45.31% of the stock is owned by hedge funds and other institutional investors.
Gladstone Land Company Profile
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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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