Gladstone Land (NASDAQ:LAND) Stock Passes Above 200 Day Moving Average - What's Next?

Key Points

• Gladstone Land shares moved above their 200-day moving average of $9.50, reaching $9.58 before closing at $9.43.
• Analyst sentiment remains cautious, with an average rating of “Hold” and a $10.00 consensus price target; Weiss Ratings reaffirmed a “sell” rating.
• The REIT missed quarterly EPS expectations, reporting a loss of $0.32 per share versus an expected loss of $0.26, while declaring a monthly dividend of $0.0467 per share, representing an approximately 5.9% annualized yield.

Gladstone Land Corporation (NASDAQ:LAND - Get Free Report) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $9.50 and traded as high as $9.58. Gladstone Land shares last traded at $9.43, with a volume of 744,283 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Gladstone Land in a research report on Friday, August 7th. 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 company. According to MarketBeat.com, Gladstone Land currently has an average rating of "Hold" and a consensus price target of $10.00.

Gladstone Land Price Performance

The company's 50-day simple moving average is $8.82 and its 200-day simple moving average is $9.50. 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 stock has a market capitalization of $406.78 million, a price-to-earnings ratio of -17.15 and a beta of 1.09.

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

Gladstone Land Announces Dividend

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Gladstone Land during the second quarter worth $29,231,000. Compass Financial Management LLC acquired a new position in shares of Gladstone Land in the second quarter valued at about $5,499,000. Renaissance Technologies LLC bought a new position in Gladstone Land during the first quarter worth about $5,165,000. PFG Investments LLC increased its position in Gladstone Land by 0.9% during the first quarter. PFG Investments LLC now owns 298,207 shares of the real estate investment trust's stock worth $3,042,000 after acquiring an additional 2,674 shares during the period. Finally, NewEdge Advisors LLC raised its stake in Gladstone Land by 7.7% in the 2nd quarter. NewEdge Advisors LLC now owns 336,738 shares of the real estate investment trust's stock worth $2,872,000 after purchasing an additional 24,029 shares in the last quarter. Institutional investors own 53.60% of the company's stock.

Gladstone Land Company Profile

Gladstone Land Corporation is a real estate investment trust that owns and manages farmland in the United States. The company primarily acquires agricultural properties and leases them to farming operators under long-term agreements, generally structured to provide the company with rental income while tenants manage day-to-day agricultural operations.

Its portfolio includes farms used to grow a variety of specialty crops, such as fruits, vegetables, and nuts, as well as row crops and other agricultural products.

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