Gladstone Land (NASDAQ:LAND) Given a $15.00 Price Target at Maxim Group

Maxim Group set a $15.00 target price on Gladstone Land (NASDAQ:LAND) in a research report sent to investors on Friday morning, TipRanks reports. The firm currently has a buy rating on the real estate investment trust’s stock.

A number of other analysts have also weighed in on the stock. ValuEngine upgraded shares of Gladstone Land from a hold rating to a buy rating in a research report on Tuesday, August 6th. Zacks Investment Research upgraded shares of Gladstone Land from a sell rating to a hold rating in a research report on Tuesday, July 23rd.

Gladstone Land stock traded up $0.06 during mid-day trading on Friday, reaching $11.75. The company had a trading volume of 121,462 shares, compared to its average volume of 108,878. Gladstone Land has a fifty-two week low of $11.12 and a fifty-two week high of $13.85. The company has a debt-to-equity ratio of 1.51, a quick ratio of 3.44 and a current ratio of 3.14. The firm has a market cap of $216.93 million, a P/E ratio of 23.04 and a beta of 0.79. The company has a fifty day moving average of $11.55.

Gladstone Land (NASDAQ:LAND) last issued its earnings results on Wednesday, August 7th. The real estate investment trust reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.16). Gladstone Land had a net margin of 15.13% and a return on equity of 2.59%. The company had revenue of $8.36 million during the quarter. Sell-side analysts predict that Gladstone Land will post 0.46 earnings per share for the current fiscal year.

The business also recently announced a dividend, which will be paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th will be given a $0.045 dividend. The ex-dividend date of this dividend is Monday, August 19th. This is a positive change from Gladstone Land’s previous dividend of $0.04. Gladstone Land’s dividend payout ratio (DPR) is currently 103.92%.

A number of institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its holdings in shares of Gladstone Land by 12.4% in the second quarter. Charles Schwab Investment Management Inc. now owns 38,085 shares of the real estate investment trust’s stock worth $440,000 after buying an additional 4,207 shares in the last quarter. Golden State Wealth Management LLC lifted its holdings in shares of Gladstone Land by 8.7% in the second quarter. Golden State Wealth Management LLC now owns 19,436 shares of the real estate investment trust’s stock worth $224,000 after buying an additional 1,550 shares in the last quarter. Menta Capital LLC purchased a new position in shares of Gladstone Land in the second quarter worth $269,000. Monashee Investment Management LLC purchased a new position in shares of Gladstone Land in the second quarter worth $461,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Gladstone Land by 27.5% in the second quarter. JPMorgan Chase & Co. now owns 4,481 shares of the real estate investment trust’s stock worth $51,000 after buying an additional 967 shares in the last quarter. Hedge funds and other institutional investors own 29.61% of the company’s stock.

Gladstone Land Company Profile

Gladstone Land is a publicly-traded real estate investment trust that invests in farmland and farm-related properties located in major agricultural markets in the U.S., which it leases to unrelated third-party farmer-tenants. The Company reports the current fair value of its farmland on a quarterly basis; as of December 31, 2018, its estimated net asset value was $12.88 per share.

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