Gladstone Land Corporation (LAND) Upgraded at Zacks Investment Research
Gladstone Land Corporation (NASDAQ:LAND) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.
According to Zacks, “Gladstone Land Corporation is a real estate investment trust. The company acquires and leases farmland to corporate and independent farmers. Its properties are situated in California and Florida. Gladstone Land Corporation is based in McLean, Virginia. “
Separately, Ladenburg Thalmann Financial Services reissued a “buy” rating on shares of Gladstone Land Corporation in a report on Wednesday, June 28th.
Shares of Gladstone Land Corporation (NASDAQ:LAND) opened at 13.34 on Friday. Gladstone Land Corporation has a one year low of $9.51 and a one year high of $14.09. The company has a 50-day moving average price of $13.12 and a 200 day moving average price of $11.76. The stock has a market cap of $160.23 million, a price-to-earnings ratio of 290.00 and a beta of 1.00.
Gladstone Land Corporation (NASDAQ:LAND) last posted its earnings results on Tuesday, August 8th. The real estate investment trust reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.04). Gladstone Land Corporation had a net margin of 2.58% and a return on equity of 0.57%. The firm had revenue of $6.00 million during the quarter. Equities research analysts expect that Gladstone Land Corporation will post $0.06 earnings per share for the current year.
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Several hedge funds and other institutional investors have recently bought and sold shares of LAND. Renaissance Technologies LLC raised its stake in shares of Gladstone Land Corporation by 18.3% in the first quarter. Renaissance Technologies LLC now owns 445,700 shares of the real estate investment trust’s stock worth $4,947,000 after buying an additional 68,800 shares during the period. Oppenheimer & Co. Inc. bought a new position in shares of Gladstone Land Corporation in the first quarter worth about $234,000. Foster & Motley Inc. raised its stake in shares of Gladstone Land Corporation by 6.9% in the second quarter. Foster & Motley Inc. now owns 223,510 shares of the real estate investment trust’s stock worth $2,608,000 after buying an additional 14,507 shares during the period. Shufro Rose & Co. LLC raised its stake in shares of Gladstone Land Corporation by 38.3% in the second quarter. Shufro Rose & Co. LLC now owns 48,000 shares of the real estate investment trust’s stock worth $560,000 after buying an additional 13,300 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of Gladstone Land Corporation by 113.1% in the second quarter. JPMorgan Chase & Co. now owns 21,073 shares of the real estate investment trust’s stock worth $246,000 after buying an additional 11,183 shares during the period. 21.11% of the stock is currently owned by hedge funds and other institutional investors.
About Gladstone Land Corporation
Gladstone Land Corporation is an agricultural real estate investment trust (REIT). The Company is engaged in the business of owning and leasing farmland. The Company also owns various farm-related facilities, such as cooling facilities, buildings utilized for the storage and assembly of boxes for shipping produce (box barns), packinghouses, processing facilities and various storage facilities.
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