Gladstone Land (NASDAQ:LAND) Shares Cross Below 200-Day Moving Average - What's Next?

Key Points

• Gladstone Land's stock has fallen below its 200-day moving average for the first time, with the stock currently trading at $9.00, below the average of $9.85.
• The company announced a monthly dividend of $0.0467 per share, yielding 6.2%, but its dividend payout ratio stands at a negative -127.27%.
• Recent analyst ratings show a mix, with one "Buy," one "Hold," and one "Sell," leading to an average rating of "Hold" and a consensus price target of $14.50.

Gladstone Land Corporation (NASDAQ:LAND - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $9.85 and traded as low as $8.92. Gladstone Land shares last traded at $9.00, with a volume of 583,024 shares traded.

Analyst Ratings Changes

Several analysts have weighed in on the company. Oppenheimer reissued an "outperform" rating on shares of Gladstone Land in a report on Friday, May 23rd. Zacks Research raised Gladstone Land to a "strong sell" rating in a research note on Friday, August 8th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $14.50.

Gladstone Land Stock Down 1.2%

The firm has a fifty day simple moving average of $9.32 and a 200-day simple moving average of $9.82. The firm has a market cap of $335.12 million, a price-to-earnings ratio of -21.05, a P/E/G ratio of 6.94 and a beta of 1.15. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.21 and a current ratio of 2.21.

Gladstone Land Announces Dividend

The company also recently announced a monthly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, July 21st were issued a dividend of $0.0467 per share. The ex-dividend date of this dividend was Monday, July 21st. This represents a c) dividend on an annualized basis and a dividend yield of 6.1%. Gladstone Land's dividend payout ratio (DPR) is currently -127.27%.

Institutional Investors Weigh In On Gladstone Land

A number of hedge funds and other institutional investors have recently modified their holdings of LAND. Perkins Coie Trust Co acquired a new stake in shares of Gladstone Land during the first quarter worth $32,000. Parallel Advisors LLC lifted its holdings in shares of Gladstone Land by 1,146.9% during the second quarter. Parallel Advisors LLC now owns 3,454 shares of the real estate investment trust's stock worth $35,000 after buying an additional 3,177 shares in the last quarter. CWM LLC lifted its holdings in shares of Gladstone Land by 116.0% during the second quarter. CWM LLC now owns 4,504 shares of the real estate investment trust's stock worth $46,000 after buying an additional 2,419 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Gladstone Land by 73.5% during the first quarter. Signaturefd LLC now owns 4,924 shares of the real estate investment trust's stock worth $52,000 after buying an additional 2,086 shares in the last quarter. Finally, Strs Ohio acquired a new stake in shares of Gladstone Land during the first quarter worth $63,000. Institutional investors and hedge funds own 53.60% of the company's stock.

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.