Gladstone Land (NASDAQ:LAND) Cut to Sell at StockNews.com

StockNews.com downgraded shares of Gladstone Land (NASDAQ:LAND) from a hold rating to a sell rating in a research note published on Monday.

Separately, Alliance Global Partners downgraded shares of Gladstone Land from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $16.00 to $14.50 in a research report on Friday, November 8th.

Gladstone Land Trading Down 0.8 %

LAND opened at $11.33 on Monday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.99 and a quick ratio of 0.70. The firm has a market capitalization of $409.98 million, a price-to-earnings ratio of -39.07, a PEG ratio of 3.74 and a beta of 1.05. The business has a 50 day simple moving average of $10.88 and a two-hundred day simple moving average of $12.32. Gladstone Land has a one year low of $10.27 and a one year high of $15.36.

Gladstone Land (NASDAQ:LAND) last announced its earnings results on Wednesday, February 19th. The real estate investment trust reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.19. The firm had revenue of $21.10 million for the quarter, compared to analysts’ expectations of $20.45 million. Gladstone Land had a net margin of 15.59% and a return on equity of 1.89%. Analysts predict that Gladstone Land will post 0.52 EPS for the current year.

Gladstone Land Increases Dividend

The firm also recently declared a dividend, which was paid on Friday, January 31st. Investors of record on Monday, January 27th were paid a dividend of $0.0467 per share. This is an increase from Gladstone Land’s previous dividend of $0.04. The ex-dividend date of this dividend was Friday, January 24th. This represents a yield of 5.33%. Gladstone Land’s dividend payout ratio is presently -193.10%.

Institutional Trading of Gladstone Land

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Larson Financial Group LLC grew its stake in shares of Gladstone Land by 224.2% during the third quarter. Larson Financial Group LLC now owns 1,929 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 1,334 shares during the last quarter. Hager Investment Management Services LLC bought a new position in Gladstone Land in the fourth quarter worth approximately $27,000. Harbor Capital Advisors Inc. bought a new position in shares of Gladstone Land in the 3rd quarter worth $50,000. KLP Kapitalforvaltning AS bought a new position in shares of Gladstone Land in the 4th quarter worth $62,000. Finally, AlphaQuest LLC boosted its holdings in shares of Gladstone Land by 63.2% in the 4th quarter. AlphaQuest LLC now owns 5,841 shares of the real estate investment trust’s stock valued at $63,000 after buying an additional 2,261 shares in the last quarter. Hedge funds and other institutional investors own 53.60% of the company’s stock.

Gladstone Land Company Profile

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.