Gladstone Land Co. (NASDAQ:LAND) Receives $16.00 Average PT from Brokerages

Shares of Gladstone Land Co. (NASDAQ:LAND) have received a consensus recommendation of “Moderate Buy” from the four analysts that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $16.00.

Several brokerages have recently weighed in on LAND. Maxim Group cut shares of Gladstone Land from a “buy” rating to a “hold” rating in a research note on Monday, August 12th. Alliance Global Partners started coverage on shares of Gladstone Land in a research note on Tuesday, June 11th. They set a “buy” rating and a $16.00 price target for the company.

Gladstone Land Price Performance

LAND opened at $14.01 on Thursday. Gladstone Land has a 12-month low of $12.31 and a 12-month high of $15.36. The stock has a fifty day simple moving average of $14.11 and a two-hundred day simple moving average of $13.54. The company has a market cap of $502.09 million, a price-to-earnings ratio of 233.50, a price-to-earnings-growth ratio of 4.47 and a beta of 1.07. The company has a current ratio of 4.43, a quick ratio of 4.43 and a debt-to-equity ratio of 0.78.

Gladstone Land Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 20th will be issued a $0.0467 dividend. This represents a $0.56 annualized dividend and a yield of 4.00%. The ex-dividend date is Friday, September 20th. Gladstone Land’s payout ratio is presently 933.33%.

Institutional Investors Weigh In On Gladstone Land

A number of large investors have recently modified their holdings of LAND. Victory Capital Management Inc. increased its position in shares of Gladstone Land by 1.7% during the 4th quarter. Victory Capital Management Inc. now owns 48,661 shares of the real estate investment trust’s stock worth $703,000 after purchasing an additional 824 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in shares of Gladstone Land by 250.2% in the 4th quarter. Quadrant Capital Group LLC now owns 2,290 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 1,636 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Gladstone Land during the 4th quarter worth about $173,000. Quest Partners LLC purchased a new position in Gladstone Land during the 4th quarter valued at about $399,000. Finally, Nomura Asset Management Co. Ltd. grew its position in Gladstone Land by 4.7% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 37,600 shares of the real estate investment trust’s stock valued at $543,000 after acquiring an additional 1,700 shares in the last quarter. Hedge funds and other institutional investors own 53.60% of the company’s stock.

About Gladstone Land

Founded in 1997, Gladstone Land is a publicly traded real estate investment trust that acquires and owns farmland and farm-related properties located in major agricultural markets in the U.S. and leases its properties to unrelated third-party farmers. The Company, which reports the aggregate fair value of its farmland holdings on a quarterly basis, currently owns 169 farms, comprised of approximately 116,000 acres in 15 different states and over 45,000 acre-feet of banked water in California, valued at a total of approximately $1.6 billion.