Gladstone Land Corporation (NASDAQ:LAND) Sees Significant Drop in Short Interest

Key Points

• Short interest in Gladstone Land fell by 18.4% in March to 1,536,017 shares, about 4.0% of shares short and a short‑interest ratio of 2.7 days.
• The company declared a monthly dividend of $0.0467 (annualized yield ~5.5%) with an ex‑dividend date of March 23, but the payout ratio is reported at -466.67%, indicating potential coverage concerns.
• Gladstone Land missed quarterly EPS expectations (reported ($0.05) vs. $0.30 consensus) while beating revenue estimates ($41.45M), and analysts hold a consensus rating of "Hold" with an average $10.00 price target.

Gladstone Land Corporation (NASDAQ:LAND - Get Free Report) was the recipient of a large decline in short interest during the month of March. As of March 13th, there was short interest totaling 1,536,017 shares, a decline of 18.4% from the February 26th total of 1,881,632 shares. Based on an average daily trading volume, of 564,685 shares, the short-interest ratio is presently 2.7 days. Approximately 4.0% of the shares of the company are short sold.

Gladstone Land Stock Performance

Shares of NASDAQ LAND traded up $0.29 during midday trading on Monday, hitting $10.16. The company's stock had a trading volume of 383,149 shares, compared to its average volume of 734,574. The firm has a market capitalization of $421.03 million, a price-to-earnings ratio of -84.58 and a beta of 1.18. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.71. The stock has a fifty day moving average price of $11.04 and a 200 day moving average price of $9.84. Gladstone Land has a one year low of $8.47 and a one year high of $13.00.

Gladstone Land (NASDAQ:LAND - Get Free Report) last released its quarterly earnings data on Tuesday, February 24th. The real estate investment trust reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates of $0.30 by ($0.35). Gladstone Land had a net margin of 15.31% and a return on equity of 2.01%. The business had revenue of $41.45 million during the quarter, compared to analysts' expectations of $32.07 million. On average, research analysts forecast that Gladstone Land will post 0.52 EPS for the current fiscal year.

Gladstone Land Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 23rd will be paid a dividend of $0.0467 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date is Monday, March 23rd. Gladstone Land's payout ratio is presently -466.67%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in LAND. Marshall Wace LLP purchased a new position in Gladstone Land during the 4th quarter valued at about $2,476,000. PFG Investments LLC boosted its position in shares of Gladstone Land by 611.8% in the fourth quarter. PFG Investments LLC now owns 295,533 shares of the real estate investment trust's stock valued at $2,704,000 after acquiring an additional 254,015 shares during the period. NewEdge Advisors LLC boosted its position in shares of Gladstone Land by 1,521.9% in the third quarter. NewEdge Advisors LLC now owns 266,414 shares of the real estate investment trust's stock valued at $2,440,000 after acquiring an additional 249,988 shares during the period. Millennium Management LLC grew its stake in Gladstone Land by 570.2% during the third quarter. Millennium Management LLC now owns 283,538 shares of the real estate investment trust's stock valued at $2,597,000 after acquiring an additional 241,231 shares in the last quarter. Finally, Global Strategic Management Inc. purchased a new position in Gladstone Land during the fourth quarter valued at approximately $1,420,000. Institutional investors own 53.60% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Zacks Research downgraded Gladstone Land from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 10th. Weiss Ratings upgraded Gladstone Land from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, March 2nd. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.