Brokerages set price target for Gladstone Land Co. (NASDAQ:LAND) at $16.00

Gladstone Land Co. shares. (NASDAQ:LAND – Get Your Free Report ) has received a consensus rating of “Moderate Buy” from the four analysts that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $16.00.

LAND has been the subject of a number of analyst research reports. Maxim Group lowered Gladstone Land from a “buy” rating to a “hold” rating in a research report on Monday, August 12th. Alliance Global Partners began coverage on Gladstone Land in a report on Tuesday, June 11th. They issued a “buy” rating and a $16.00 price objective for the company.

Check out the latest stock report on Gladstone Land

Gladstone land price performance

Shares of LAND stock opened at $13.91 on Thursday. The firm has a fifty day moving average price of $14.13 and a 200 day moving average price of $13.53. The stock has a market cap of $498.51 million, a PE ratio of 231.83, a price-to-earnings-growth ratio of 4.47 and a beta of 1.07. Gladstone Land has a 1 year low of $12.31 and a 1 year high of $15.36. The company has a debt-to-equity ratio of 0.78, a current ratio of 4.43, and a quick ratio of 4.43.

Gladstone Land announces dividend

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

Hedge funds weigh in on Gladstone’s turf

A number of hedge funds and other institutional investors have recently bought and sold shares of LAND. Marathon Capital Management boosted its stake in Gladstone Land by 0.5% in the second quarter. Marathon Capital Management now owns 154,271 shares of the real estate investment trust’s stock worth $2,112,000 after acquiring an additional 781 shares during the period. Pullen Investment Management LLC lifted its position in Gladstone Land by 1.7% in the second quarter. Pullen Investment Management LLC now owns 47,106 shares of the real estate investment trust’s stock valued at $645,000 after purchasing an additional 803 shares during the period. Victory Capital Management Inc. boosted its holdings in Gladstone Land by 1.7% in the 4th quarter. Victory Capital Management Inc. now owns 48,661 shares of the real estate investment trust’s stock valued at $703,000 after purchasing an additional 824 shares during the last quarter. Millburn Ridgefield Corp grew its position in Gladstone Land by 7.6% in the first quarter. Millburn Ridgefield Corp now owns 12,559 shares of the real estate investment trust’s stock worth $168,000 after purchasing an additional 885 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in Gladstone Land by 9.2% in the second quarter. The Manufacturers Life Insurance Company now owns 13,864 shares of the real estate investment trust’s stock worth $190,000 after purchasing an additional 1,172 shares in the last quarter. 53.60% of the shares are currently owned by hedge funds and other institutional investors.

Gladstone Land Company Profile

(Get a free report

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 U.S. agricultural markets and leases its properties to unaffiliated third-party farmers. The company, which reports quarterly the total fair value of its farmland, currently owns 169 farms, comprised of approximately 116,000 acres in 15 different states and more than 45,000 acre-feet of water lying in California, valued at a total of approximately 1 .6 billion dollars.

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