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

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

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

Gladstone Land Stock Performance

Shares of LAND stock opened at $11.33 on Monday. The stock has a 50-day moving average of $10.88 and a 200-day moving average of $12.32. 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 stock has a market cap of $409.98 million, a PE ratio of -39.07, a price-to-earnings-growth ratio of 3.74 and a beta of 1.05. Gladstone Land has a one year low of $10.27 and a one year high of $15.36.

Gladstone Land (NASDAQ:LAND) last released its quarterly earnings results on Wednesday, February 19th. The real estate investment trust reported $0.09 earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.19. The company had revenue of $21.10 million during 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%. As a group, sell-side analysts expect that Gladstone Land will post 0.52 earnings per share 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 given a dividend of $0.0467 per share. This represents a yield of 5.33%. This is a positive change from Gladstone Land’s previous dividend of $0.04. The ex-dividend date was Friday, January 24th. Gladstone Land’s dividend payout ratio (DPR) is currently -193.10%.

Hedge Funds Weigh In On Gladstone Land

Hedge funds and other institutional investors have recently made changes to their positions in the company. Invesco Ltd. grew its holdings in shares of Gladstone Land by 1.9% during the fourth quarter. Invesco Ltd. now owns 59,866 shares of the real estate investment trust’s stock worth $650,000 after purchasing an additional 1,094 shares during the last quarter. Rhumbline Advisers lifted its stake in Gladstone Land by 1.9% in the fourth quarter. Rhumbline Advisers now owns 59,290 shares of the real estate investment trust’s stock valued at $643,000 after buying an additional 1,130 shares during the period. Catalyst Capital Advisors LLC boosted its stake in Gladstone Land by 9.5% during the fourth quarter. Catalyst Capital Advisors LLC now owns 13,685 shares of the real estate investment trust’s stock worth $148,000 after acquiring an additional 1,192 shares in the last quarter. Millburn Ridgefield Corp grew its stake in shares of Gladstone Land by 9.5% in the 4th quarter. Millburn Ridgefield Corp now owns 13,685 shares of the real estate investment trust’s stock valued at $148,000 after buying an additional 1,192 shares during the period. Finally, Larson Financial Group LLC grew its stake in Gladstone Land by 224.2% in 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 acquiring an additional 1,334 shares during the period. 53.60% of the stock is currently owned by institutional investors and hedge funds.

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.