Gladstone Land (NASDAQ:LAND) Price Target Raised to $16.50
Gladstone Land (NASDAQ:LAND) had its price target boosted by LADENBURG THALM/SH SH from $15.50 to $16.50 in a report issued on Monday morning, The Fly reports. LADENBURG THALM/SH SH currently has a buy rating on the real estate investment trust’s stock.
Other equities analysts have also issued research reports about the stock. Maxim Group reaffirmed a buy rating and set a $20.00 target price on shares of Gladstone Land in a research report on Friday, August 7th. B. Riley boosted their target price on shares of Gladstone Land from $16.00 to $17.50 in a research report on Wednesday, June 10th. Zacks Investment Research lowered shares of Gladstone Land from a buy rating to a hold rating in a research report on Wednesday, August 12th. Finally, BidaskClub lowered shares of Gladstone Land from a hold rating to a sell rating in a research report on Friday, August 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. Gladstone Land currently has a consensus rating of Buy and an average price target of $16.70.
NASDAQ:LAND opened at $15.56 on Monday. Gladstone Land has a 12 month low of $9.61 and a 12 month high of $16.76. The firm has a market cap of $342.68 million, a price-to-earnings ratio of -141.45 and a beta of 0.69. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 1.60. The company’s 50 day moving average is $15.71 and its 200-day moving average is $14.35.
The firm also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 23rd will be issued a $0.0448 dividend. This represents a $0.54 annualized dividend and a yield of 3.46%. The ex-dividend date of this dividend is Tuesday, September 22nd. Gladstone Land’s dividend payout ratio (DPR) is presently 94.74%.
A number of institutional investors have recently made changes to their positions in LAND. Amundi Pioneer Asset Management Inc. increased its holdings in Gladstone Land by 49.0% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 101,520 shares of the real estate investment trust’s stock valued at $1,284,000 after buying an additional 33,381 shares during the period. BlackRock Inc. increased its holdings in Gladstone Land by 1.0% in the 1st quarter. BlackRock Inc. now owns 1,269,485 shares of the real estate investment trust’s stock valued at $15,043,000 after buying an additional 12,968 shares during the period. Los Angeles Capital Management & Equity Research Inc. bought a new stake in Gladstone Land in the 1st quarter valued at $263,000. Rhumbline Advisers increased its holdings in Gladstone Land by 29.5% in the 1st quarter. Rhumbline Advisers now owns 38,543 shares of the real estate investment trust’s stock valued at $457,000 after buying an additional 8,780 shares during the period. Finally, Teachers Insurance & Annuity Association of America bought a new stake in Gladstone Land in the 1st quarter valued at $140,000. 38.95% of the stock is currently 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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