BlackRock Inc. Purchases New Position in Gladstone Land Corporation $LAND

Key Points

• BlackRock acquired 3.43 million shares of Gladstone Land in the second quarter, valued at approximately $29.2 million and representing a 7.94% stake. Institutional investors collectively own 53.6% of the REIT.
• Gladstone Land reported quarterly EPS of negative $0.32, missing estimates by $0.06, while revenue of $12.69 million exceeded expectations. Shares opened at $9.56, compared with a 52-week range of $7.92 to $13.00.
• The company declared a monthly dividend of $0.0467 per share, implying an annualized yield of approximately 5.9%. Analyst sentiment remains mixed, with a consensus “Hold” rating and a $10.00 target price.

BlackRock Inc. acquired a new position in shares of Gladstone Land Corporation (NASDAQ:LAND - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,426,794 shares of the real estate investment trust's stock, valued at approximately $29,231,000. BlackRock Inc. owned approximately 7.94% of Gladstone Land at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in LAND. AQR Capital Management LLC boosted its position in Gladstone Land by 12.1% in the first quarter. AQR Capital Management LLC now owns 35,991 shares of the real estate investment trust's stock valued at $379,000 after buying an additional 3,889 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Gladstone Land by 5.9% during the first quarter. Goldman Sachs Group Inc. now owns 407,183 shares of the real estate investment trust's stock worth $4,284,000 after buying an additional 22,557 shares in the last quarter. Jane Street Group LLC lifted its stake in shares of Gladstone Land by 141.1% in the 1st quarter. Jane Street Group LLC now owns 108,843 shares of the real estate investment trust's stock valued at $1,145,000 after acquiring an additional 63,702 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Gladstone Land during the 1st quarter valued at $273,000. Finally, Strs Ohio bought a new stake in Gladstone Land during the 1st quarter worth $63,000. Institutional investors own 53.60% of the company's stock.

Gladstone Land Price Performance

Shares of LAND opened at $9.56 on Wednesday. Gladstone Land Corporation has a 1 year low of $7.92 and a 1 year high of $13.00. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.29 and a quick ratio of 1.29. The company has a market capitalization of $412.42 million, a price-to-earnings ratio of -17.38 and a beta of 1.09. The business has a 50-day moving average of $8.56 and a 200-day moving average of $9.65.

Gladstone Land (NASDAQ:LAND - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The real estate investment trust reported ($0.32) EPS for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.06). Gladstone Land had a negative return on equity of 0.96% and a negative net margin of 7.31%.The company had revenue of $12.69 million during the quarter, compared to analyst estimates of $12.28 million. As a group, equities research analysts anticipate that Gladstone Land Corporation will post 0.48 earnings per share for the current year.

Gladstone Land Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st will be given a $0.0467 dividend. The ex-dividend date is Monday, September 21st. This represents a c) dividend on an annualized basis and a dividend yield of 5.9%. Gladstone Land's payout ratio is -101.82%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Gladstone Land in a report on Friday, August 7th. Wall Street Zen lowered Gladstone Land from a "sell" rating to a "strong sell" rating in a research note on Saturday, May 16th. Finally, Lucid Cap Mkts upgraded Gladstone Land from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $10.00.

About Gladstone Land

Gladstone Land Corporation NASDAQ: LAND is a publicly traded real estate investment trust (REIT) that specializes in the acquisition and ownership of farmland in the United States. Established in 2013 and headquartered in Wayne, Pennsylvania, the company focuses on purchasing high-quality agricultural properties and leasing them to farmers under long‐term, triple‐net lease agreements. This model provides tenants with operational flexibility while generating stable, recurring rental income for investors.

The company's portfolio spans several key agricultural regions across the country, including California, the Midwest, and parts of the Southeast.

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