Zacks: Analysts Expect Gladstone Land Corp (LAND) to Announce $0.11 Earnings Per Share

Equities research analysts expect that Gladstone Land Corp (NASDAQ:LAND) will report $0.11 earnings per share (EPS) for the current quarter, Zacks reports. Zero analysts have issued estimates for Gladstone Land’s earnings. Gladstone Land reported earnings of $0.14 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 21.4%. The firm is expected to issue its next earnings results on Tuesday, November 6th.

According to Zacks, analysts expect that Gladstone Land will report full-year earnings of $0.45 per share for the current financial year, with EPS estimates ranging from $0.38 to $0.51. For the next financial year, analysts forecast that the business will post earnings of $0.56 per share, with EPS estimates ranging from $0.53 to $0.59. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that follow Gladstone Land.

Separately, Zacks Investment Research raised Gladstone Land from a “sell” rating to a “hold” rating in a report on Wednesday, September 5th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $14.67.

Shares of Gladstone Land stock traded down $0.02 on Thursday, reaching $12.58. The company’s stock had a trading volume of 106,723 shares, compared to its average volume of 86,072. The firm has a market cap of $208.44 million, a price-to-earnings ratio of 24.89 and a beta of 1.11. Gladstone Land has a 52 week low of $11.36 and a 52 week high of $14.29. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 2.17.

The company also recently declared a monthly dividend, which was paid on Friday, August 31st. Stockholders of record on Tuesday, August 21st were paid a $0.0444 dividend. The ex-dividend date of this dividend was Monday, August 20th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 4.23%. Gladstone Land’s dividend payout ratio (DPR) is currently 94.64%.

Several hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its stake in shares of Gladstone Land by 70.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 80,239 shares of the real estate investment trust’s stock worth $1,017,000 after buying an additional 33,119 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Gladstone Land by 31.3% in the 2nd quarter. Renaissance Technologies LLC now owns 595,319 shares of the real estate investment trust’s stock worth $7,543,000 after buying an additional 141,919 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Gladstone Land by 1,121.7% in the 2nd quarter. BlackRock Inc. now owns 649,563 shares of the real estate investment trust’s stock worth $8,229,000 after buying an additional 596,396 shares during the last quarter. Teachers Insurance & Annuity Association of America boosted its stake in shares of Gladstone Land by 52.0% in the 2nd quarter. Teachers Insurance & Annuity Association of America now owns 17,897 shares of the real estate investment trust’s stock worth $227,000 after buying an additional 6,122 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. purchased a new position in shares of Gladstone Land in the 2nd quarter worth $315,000. Hedge funds and other institutional investors own 36.07% of the company’s stock.

Gladstone Land Company Profile

Gladstone Land is a publicly-traded real estate investment trust that invests in farmland and farm-related properties located in major agricultural markets in the U.S., which it leases to unrelated third-party farmers. The Company reports the current fair value of its farmland on a quarterly basis; as of June 30, 2018, the estimated net asset value of the Company was $13.51 per share.

Further Reading: How to Calculate Compound Annual Growth Rate (CAGR)

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