Gladstone Land (NASDAQ:LAND) Stock Price Crosses Below 200 Day Moving Average - Here's Why

Key Points

• Gladstone Land shares fell below their 200-day moving average, trading as low as $8.55 and last changing hands at $8.58 versus the $9.21 long-term average.
• Weiss Ratings downgraded the stock from “sell (d+)” to “sell (d),” while analysts maintain a consensus “Hold” rating and a $10.00 price target.
• The company declared a monthly dividend of $0.0467 per share, equivalent to an annualized $0.56 payout and a 6.5% yield; its latest quarterly EPS loss also missed analyst expectations.

Gladstone Land Corporation (NASDAQ:LAND - Get Free Report) crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $9.21 and traded as low as $8.55. Gladstone Land shares last traded at $8.58, with a volume of 581,666 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded shares of Gladstone Land from a "sell (d+)" rating to a "sell (d)" rating in a report on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Gladstone Land presently has a consensus rating of "Hold" and a consensus target price of $10.00.

Gladstone Land Stock Down 3.5%

The company has a market capitalization of $370.14 million, a price-to-earnings ratio of -15.60 and a beta of 1.10. The firm's 50 day moving average price is $9.27 and its two-hundred day moving average price is $9.21. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.72.

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

Gladstone Land Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Monday, December 21st will be given a dividend of $0.0467 per share. This represents a $0.56 dividend on an annualized basis and a yield of 6.5%. The ex-dividend date of this dividend is Monday, December 21st. Gladstone Land's payout ratio is -101.82%.

Institutional Trading of Gladstone Land

Several institutional investors and hedge funds have recently bought and sold shares of the business. Compass Financial Management LLC bought a new position in Gladstone Land during the second quarter worth $5,499,000. Bank of New York Mellon Corp acquired a new position in shares of Gladstone Land in the second quarter valued at $1,037,000. BlackRock Inc. acquired a new position in shares of Gladstone Land in the second quarter valued at $29,231,000. Renaissance Technologies LLC acquired a new position in shares of Gladstone Land in the first quarter valued at $5,165,000. Finally, Deutsche Bank AG acquired a new position in shares of Gladstone Land in the second quarter valued at $622,000. Institutional investors own 53.60% of the company's stock.

Gladstone Land Company Profile

Gladstone Land Corporation NASDAQ: LAND is a real estate investment trust that owns and leases farmland in the United States. The company focuses on agricultural properties that produce a range of crops, including fruits, vegetables, and other specialty crops, as well as certain row crops.

Gladstone Land generally leases its properties to farmers and agricultural operators under long-term agreements, often structured as triple-net leases. These arrangements typically make tenants responsible for property-level operating costs, while Gladstone Land remains focused on owning and managing the underlying farmland.

Founded in 1997, the company has built a portfolio of farms across major U.S.

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