Brokerages Anticipate Gladstone Land Corp (LAND) Will Post Earnings of $0.12 Per Share
Brokerages expect that Gladstone Land Corp (NASDAQ:LAND) will report earnings of $0.12 per share for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for Gladstone Land’s earnings. Gladstone Land posted earnings per share of $0.11 in the same quarter last year, which suggests a positive year-over-year growth rate of 9.1%. The company is scheduled to report its next earnings results on Wednesday, August 14th.
According to Zacks, analysts expect that Gladstone Land will report full year earnings of $0.51 per share for the current year, with EPS estimates ranging from $0.50 to $0.51. For the next year, analysts expect that the firm will report earnings of $0.56 per share, with EPS estimates ranging from $0.53 to $0.58. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Gladstone Land.
Gladstone Land (NASDAQ:LAND) last released its quarterly earnings data on Tuesday, May 7th. The real estate investment trust reported ($0.03) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.15). The firm had revenue of $7.83 million for the quarter. Gladstone Land had a return on equity of 1.73% and a net margin of 8.09%.
In related news, CEO David Gladstone purchased 100,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were purchased at an average cost of $12.00 per share, for a total transaction of $1,200,000.00. Following the purchase, the chief executive officer now directly owns 2,015,300 shares of the company’s stock, valued at $24,183,600. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 12.41% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in LAND. Daiwa Securities Group Inc. raised its stake in Gladstone Land by 160.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 2,600 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 1,600 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in Gladstone Land by 576.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,042 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 2,592 shares in the last quarter. Citigroup Inc. raised its stake in Gladstone Land by 71.8% during the 1st quarter. Citigroup Inc. now owns 3,841 shares of the real estate investment trust’s stock worth $49,000 after acquiring an additional 1,605 shares in the last quarter. FCA Corp TX acquired a new stake in Gladstone Land during the 4th quarter worth $111,000. Finally, Advisor Group Inc. raised its stake in Gladstone Land by 13.0% during the 4th quarter. Advisor Group Inc. now owns 10,407 shares of the real estate investment trust’s stock worth $119,000 after acquiring an additional 1,197 shares in the last quarter. Hedge funds and other institutional investors own 31.14% of the company’s stock.
Gladstone Land stock opened at $12.63 on Monday. The firm has a market cap of $233.73 million, a PE ratio of 24.76 and a beta of 0.97. Gladstone Land has a 12-month low of $11.12 and a 12-month high of $13.85. The company has a debt-to-equity ratio of 1.71, a current ratio of 3.44 and a quick ratio of 3.44.
The company also recently disclosed a monthly dividend, which will be paid on Friday, May 31st. Stockholders of record on Wednesday, May 22nd will be given a dividend of $0.0445 per share. The ex-dividend date is Tuesday, May 21st. This represents a $0.53 annualized dividend and a dividend yield of 4.22%. Gladstone Land’s dividend payout ratio (DPR) is currently 103.92%.
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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