Gladstone Land (LAND) Rating Increased to Buy at ValuEngine

ValuEngine upgraded shares of Gladstone Land (NASDAQ:LAND) from a hold rating to a buy rating in a research note issued to investors on Saturday, March 30th, ValuEngine reports.

Several other research firms have also commented on LAND. Zacks Investment Research raised shares of Gladstone Land from a hold rating to a buy rating and set a $13.00 price target on the stock in a report on Thursday, January 24th. Maxim Group reiterated a buy rating and issued a $15.00 price objective on shares of Gladstone Land in a report on Thursday, February 28th. Finally, JMP Securities cut Gladstone Land from a market perform rating to an underperform rating in a report on Monday, January 14th.

NASDAQ:LAND traded down $0.18 during trading hours on Friday, reaching $12.48. The company’s stock had a trading volume of 43,530 shares, compared to its average volume of 91,255. The company has a market capitalization of $228.27 million, a price-to-earnings ratio of 24.47 and a beta of 0.99. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 1.86. Gladstone Land has a 12 month low of $11.12 and a 12 month high of $13.85.

The business also recently announced a monthly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 22nd will be issued a $0.0445 dividend. The ex-dividend date is Tuesday, May 21st. This represents a $0.53 dividend on an annualized basis and a yield of 4.27%. Gladstone Land’s dividend payout ratio (DPR) is presently 103.92%.

In other Gladstone Land news, CEO David Gladstone purchased 100,000 shares of the business’s stock in a transaction on Friday, March 15th. The shares were bought at an average cost of $12.00 per share, for a total transaction of $1,200,000.00. Following the completion of the purchase, the chief executive officer now directly owns 2,015,300 shares in the company, valued at $24,183,600. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 12.41% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Northern Trust Corp boosted its holdings in shares of Gladstone Land by 175.6% in the 2nd quarter. Northern Trust Corp now owns 170,666 shares of the real estate investment trust’s stock worth $2,162,000 after purchasing an additional 108,748 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Gladstone Land by 54.6% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 30,881 shares of the real estate investment trust’s stock worth $381,000 after purchasing an additional 10,901 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Gladstone Land by 5.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 84,389 shares of the real estate investment trust’s stock worth $1,042,000 after purchasing an additional 4,150 shares during the period. BlackRock Inc. boosted its holdings in shares of Gladstone Land by 3.7% in the 3rd quarter. BlackRock Inc. now owns 673,628 shares of the real estate investment trust’s stock worth $8,312,000 after purchasing an additional 24,065 shares during the period. Finally, Cahill Financial Advisors Inc. purchased a new position in shares of Gladstone Land in the 3rd quarter worth approximately $131,000. Institutional investors and hedge funds own 31.13% of the company’s stock.

About Gladstone Land

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 farmer-tenants. The Company reports the current fair value of its farmland on a quarterly basis; as of December 31, 2018, its estimated net asset value was $12.88 per share.

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