Gladstone Land Co. (NASDAQ:LAND) Receives $16.00 Average Target Price from Analysts

Gladstone Land Co. (NASDAQ:LAND) has been assigned an average rating of “Moderate Buy” from the four research firms that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $16.00.

A number of brokerages have commented on LAND. Maxim Group downgraded Gladstone Land from a “buy” rating to a “hold” rating in a research report on Monday, August 12th. Alliance Global Partners initiated coverage on Gladstone Land in a report on Tuesday, June 11th. They issued a “buy” rating and a $16.00 target price for the company.

Gladstone Land Price Performance

Shares of LAND stock opened at $13.91 on Thursday. The stock has a 50 day moving average of $14.07 and a two-hundred day moving average of $13.55. The company has a current ratio of 4.43, a quick ratio of 4.43 and a debt-to-equity ratio of 0.78. Gladstone Land has a 12 month low of $12.31 and a 12 month high of $15.36. The company has a market capitalization of $498.51 million, a P/E ratio of 231.83, a P/E/G ratio of 4.52 and a beta of 1.07.

Gladstone Land Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 20th will be issued a dividend of $0.0467 per share. The ex-dividend date of this dividend is Friday, September 20th. This represents a $0.56 dividend on an annualized basis and a yield of 4.03%. Gladstone Land’s dividend payout ratio is 933.33%.

Institutional Investors Weigh In On Gladstone Land

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Janney Montgomery Scott LLC increased its holdings in Gladstone Land by 0.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 246,125 shares of the real estate investment trust’s stock valued at $3,283,000 after purchasing an additional 2,042 shares in the last quarter. Marathon Capital Management increased its holdings in Gladstone Land by 0.5% during the 2nd quarter. Marathon Capital Management now owns 154,271 shares of the real estate investment trust’s stock valued at $2,112,000 after purchasing an additional 781 shares in the last quarter. Moors & Cabot Inc. increased its holdings in Gladstone Land by 6.3% during the 2nd quarter. Moors & Cabot Inc. now owns 97,650 shares of the real estate investment trust’s stock valued at $1,337,000 after purchasing an additional 5,750 shares in the last quarter. GSA Capital Partners LLP increased its holdings in Gladstone Land by 216.8% during the 1st quarter. GSA Capital Partners LLP now owns 70,383 shares of the real estate investment trust’s stock valued at $939,000 after purchasing an additional 48,167 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in Gladstone Land by 5.1% during the 2nd quarter. Rhumbline Advisers now owns 62,105 shares of the real estate investment trust’s stock valued at $850,000 after purchasing an additional 3,006 shares in the last quarter. 53.60% of the stock is owned by institutional investors and hedge funds.

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.