$0.12 EPS Expected for Gladstone Land Corp (NASDAQ:LAND) This Quarter

Brokerages forecast that Gladstone Land Corp (NASDAQ:LAND) will post earnings per share of $0.12 for the current quarter, according to Zacks. Zero analysts have issued estimates for Gladstone Land’s earnings. Gladstone Land posted earnings per share of $0.15 during the same quarter last year, which indicates a negative year over year growth rate of 20%. The company is expected to report its next earnings report on Thursday, November 14th.

According to Zacks, analysts expect that Gladstone Land will report full year earnings of $0.46 per share for the current financial year, with EPS estimates ranging from $0.45 to $0.47. For the next fiscal year, analysts expect that the firm will post earnings of $0.52 per share, with EPS estimates ranging from $0.49 to $0.55. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that follow Gladstone Land.

Gladstone Land (NASDAQ:LAND) last issued its earnings results on Wednesday, August 7th. The real estate investment trust reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.16). Gladstone Land had a return on equity of 2.59% and a net margin of 15.13%. The firm had revenue of $8.36 million during the quarter.

A number of research analysts have recently commented on the company. Zacks Investment Research downgraded Gladstone Land from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th. Maxim Group set a $15.00 target price on Gladstone Land and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, ValuEngine raised Gladstone Land from a “hold” rating to a “buy” rating in a research report on Tuesday, August 6th.

Shares of LAND traded down $0.02 during mid-day trading on Monday, reaching $11.62. The company’s stock had a trading volume of 140,018 shares, compared to its average volume of 108,181. Gladstone Land has a 12-month low of $11.12 and a 12-month high of $13.85. The stock has a market cap of $241.81 million, a PE ratio of 22.78 and a beta of 0.79. The company has a debt-to-equity ratio of 1.51, a current ratio of 3.14 and a quick ratio of 3.14. The company’s 50 day moving average is $11.56 and its 200 day moving average is $12.12.

The company also recently announced a dividend, which will be paid on Friday, August 30th. Investors of record on Tuesday, August 20th will be given a $0.045 dividend. The ex-dividend date of this dividend is Monday, August 19th. This is a boost from Gladstone Land’s previous dividend of $0.04. Gladstone Land’s dividend payout ratio is 103.92%.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of Gladstone Land by 19.7% in the 2nd quarter. BlackRock Inc. now owns 1,021,724 shares of the real estate investment trust’s stock valued at $11,781,000 after purchasing an additional 168,095 shares during the period. Vanguard Group Inc. boosted its position in shares of Gladstone Land by 9.6% in the 2nd quarter. Vanguard Group Inc. now owns 974,531 shares of the real estate investment trust’s stock valued at $11,237,000 after purchasing an additional 85,380 shares during the period. Punch & Associates Investment Management Inc. boosted its position in shares of Gladstone Land by 3.5% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 343,040 shares of the real estate investment trust’s stock valued at $4,339,000 after purchasing an additional 11,692 shares during the period. Wells Fargo & Company MN boosted its position in shares of Gladstone Land by 0.5% in the 2nd quarter. Wells Fargo & Company MN now owns 260,482 shares of the real estate investment trust’s stock valued at $3,003,000 after purchasing an additional 1,293 shares during the period. Finally, Amundi Pioneer Asset Management Inc. boosted its position in shares of Gladstone Land by 148.9% in the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 252,721 shares of the real estate investment trust’s stock valued at $10,846,000 after purchasing an additional 151,201 shares during the period. 27.99% of the stock is owned by hedge funds and other institutional investors.

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 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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