Brokerages Set Gladstone Land Co. (NASDAQ:LAND) Price Target at $16.00

Shares of Gladstone Land Co. (NASDAQ:LAND) have 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 research analyst reports. Maxim Group cut Gladstone Land from a “buy” rating to a “hold” rating in a research report on Monday, August 12th. Alliance Global Partners started 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.

Gladstone Land Price Performance

Shares of LAND 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 business also recently disclosed a monthly dividend, which will be paid on Monday, September 30th. Shareholders 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 20th. This represents a $0.56 dividend on an annualized basis and a yield of 4.03%. Gladstone Land’s payout ratio is 933.33%.

Hedge Funds Weigh In On Gladstone Land

A number of hedge funds and other institutional investors have recently bought and sold shares of LAND. Marathon Capital Management lifted its stake in shares of Gladstone Land by 0.5% in the 2nd 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 in the last quarter. Millburn Ridgefield Corp increased its position in Gladstone Land by 7.6% during the 1st 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 raised its stake in shares of Gladstone Land by 9.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,864 shares of the real estate investment trust’s stock worth $190,000 after buying an additional 1,172 shares in the last quarter. 53.60% of the stock is currently owned by hedge funds and other institutional investors.

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.