Gladstone Land Corporation (NASDAQ:LAND) Issues Earnings Results, Misses Expectations By $0.04 EPS

Gladstone Land Corporation (NASDAQ:LAND) posted its quarterly earnings data on Tuesday, August 8th. The real estate investment trust reported $0.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by $0.04, Bloomberg Earnings reports. The company had revenue of $6 million for the quarter. Gladstone Land Corporation had a return on equity of 0.57% and a net margin of 2.58%.

Shares of Gladstone Land Corporation (NASDAQ LAND) opened at 13.59 on Friday. The stock has a market cap of $163.23 million, a price-to-earnings ratio of 295.43 and a beta of 1.03. Gladstone Land Corporation has a 12-month low of $9.51 and a 12-month high of $14.09. The stock’s 50 day moving average is $12.21 and its 200-day moving average is $11.65.

The firm also recently announced a monthly dividend, which will be paid on Friday, September 29th. Stockholders of record on Wednesday, September 20th will be issued a dividend of $0.044 per share. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date is Tuesday, September 19th. Gladstone Land Corporation’s payout ratio is 1,060.21%.

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In other Gladstone Land Corporation news, CEO David Gladstone bought 20,000 shares of Gladstone Land Corporation stock in a transaction on Wednesday, June 14th. The stock was bought at an average price of $11.38 per share, with a total value of $227,600.00. Following the completion of the acquisition, the chief executive officer now owns 1,988,585 shares in the company, valued at $22,630,097.30. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 21.87% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LAND. Bank of America Corp DE increased its position in Gladstone Land Corporation by 1.2% in the first quarter. Bank of America Corp DE now owns 9,618 shares of the real estate investment trust’s stock valued at $107,000 after buying an additional 118 shares during the period. JPMorgan Chase & Co. increased its position in Gladstone Land Corporation by 10.4% in the first quarter. JPMorgan Chase & Co. now owns 9,890 shares of the real estate investment trust’s stock valued at $110,000 after buying an additional 929 shares during the period. Stelac Advisory Services LLC increased its position in Gladstone Land Corporation by 2.3% in the first quarter. Stelac Advisory Services LLC now owns 11,297 shares of the real estate investment trust’s stock valued at $120,000 after buying an additional 250 shares during the period. Sei Investments Co. increased its position in Gladstone Land Corporation by 10.0% in the first quarter. Sei Investments Co. now owns 11,098 shares of the real estate investment trust’s stock valued at $123,000 after buying an additional 1,007 shares during the period. Finally, Royal Bank of Canada boosted its stake in Gladstone Land Corporation by 81.4% in the second quarter. Royal Bank of Canada now owns 10,710 shares of the real estate investment trust’s stock worth $125,000 after buying an additional 4,806 shares in the last quarter. 23.97% of the stock is owned by institutional investors and hedge funds.

A number of research firms have weighed in on LAND. Singular Research began coverage on shares of Gladstone Land Corporation in a research report on Thursday, May 18th. They set a “buy” rating and a $14.25 price objective for the company. Zacks Investment Research cut shares of Gladstone Land Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Finally, Ladenburg Thalmann Financial Services restated a “buy” rating on shares of Gladstone Land Corporation in a research report on Wednesday, June 28th.

About Gladstone Land Corporation

Gladstone Land Corporation is an agricultural real estate investment trust (REIT). The Company is engaged in the business of owning and leasing farmland. The Company also owns various farm-related facilities, such as cooling facilities, buildings utilized for the storage and assembly of boxes for shipping produce (box barns), packinghouses, processing facilities and various storage facilities.

Earnings History for Gladstone Land Corporation (NASDAQ:LAND)

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