Gladstone Land (NASDAQ:LAND) Upgraded to Hold at Wall Street Zen

Gladstone Land (NASDAQ:LAND - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "strong sell" rating to a "hold" rating in a research report issued on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings raised Gladstone Land from a "sell (d)" rating to a "sell (d+)" rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold".

Gladstone Land Stock Performance

Shares of LAND opened at $6.88 on Friday. The company has a quick ratio of 1.29, a current ratio of 0.33 and a debt-to-equity ratio of 0.74. The business's 50 day moving average price is $8.84 and its 200-day moving average price is $9.52. Gladstone Land has a 52 week low of $6.59 and a 52 week high of $13.00. The stock has a market cap of $297.84 million, a P/E ratio of 9.09 and a beta of 1.17.

Gladstone Land (NASDAQ:LAND - Get Free Report) last posted its quarterly earnings results on Tuesday, November 10th. The real estate investment trust reported $0.14 earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.27. Gladstone Land had a return on equity of 0.37% and a net margin of 2.42%. The company had revenue of $31.47 million for the quarter, compared to the consensus estimate of $16.54 million. Equities research analysts anticipate that Gladstone Land will post 0.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Resona Asset Management Co. Ltd. grew its holdings in shares of Gladstone Land by 16.2% during the third quarter. Resona Asset Management Co. Ltd. now owns 17,720 shares of the real estate investment trust's stock valued at $168,000 after buying an additional 2,473 shares during the last quarter. Private Advisor Group LLC bought a new stake in shares of Gladstone Land during the third quarter valued at approximately $143,000. Ieq Capital LLC increased its position in shares of Gladstone Land by 72.1% during the third quarter. Ieq Capital LLC now owns 66,868 shares of the real estate investment trust's stock valued at $633,000 after acquiring an additional 28,003 shares in the last quarter. Cibc World Market Inc. purchased a new position in Gladstone Land in the 3rd quarter worth approximately $418,000. Finally, Russell Investments Group Ltd. raised its holdings in Gladstone Land by 13.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 25,274 shares of the real estate investment trust's stock worth $239,000 after acquiring an additional 3,088 shares during the last quarter. Institutional investors own 53.60% of the company's stock.

About Gladstone Land

Gladstone Land Corporation is a real estate investment trust focused on owning and leasing U.S. farmland. Its portfolio includes farms used to grow fresh produce and permanent crops, such as fruits and nuts, as well as land devoted to traditional row crops. The company generally leases its properties to farmers under long-term agreements. Its farms are located across multiple agricultural regions of the United States, and its portfolio may include related assets such as irrigation and water rights.

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