Gladstone Land (NASDAQ:LAND) Cut to Neutral at Alliance Global Partners

Gladstone Land (NASDAQ:LAND) was downgraded by analysts at Alliance Global Partners from a “buy” rating to a “neutral” rating in a report issued on Friday, MarketBeat Ratings reports. They presently have a $14.50 price target on the real estate investment trust’s stock, down from their prior price target of $16.00. Alliance Global Partners’ price objective would indicate a potential upside of 9.85% from the company’s previous close.

Separately, Maxim Group downgraded shares of Gladstone Land from a “buy” rating to a “hold” rating in a report on Monday, August 12th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $15.50.

Gladstone Land Stock Down 1.3 %

LAND stock opened at $13.20 on Friday. The stock’s 50 day moving average is $13.69 and its 200-day moving average is $13.66. Gladstone Land has a twelve month low of $12.31 and a twelve month high of $15.36. The firm has a market capitalization of $473.09 million, a PE ratio of -74.33, a P/E/G ratio of 4.28 and a beta of 1.08. The company has a quick ratio of 4.43, a current ratio of 4.43 and a debt-to-equity ratio of 0.78.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of LAND. Signaturefd LLC grew its position in Gladstone Land by 3,910.3% during the second quarter. Signaturefd LLC now owns 3,128 shares of the real estate investment trust’s stock valued at $43,000 after buying an additional 3,050 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in shares of Gladstone Land during the 3rd quarter worth approximately $50,000. M&G Plc bought a new stake in shares of Gladstone Land in the 1st quarter worth approximately $138,000. LRI Investments LLC purchased a new position in Gladstone Land in the first quarter valued at approximately $149,000. Finally, SG Americas Securities LLC grew its holdings in Gladstone Land by 41.0% during the third quarter. SG Americas Securities LLC now owns 12,280 shares of the real estate investment trust’s stock valued at $171,000 after purchasing an additional 3,572 shares during the period. Institutional investors own 53.60% of the company’s stock.

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.