Wall Street analysts expect that Gladstone Land Corp (NASDAQ:LAND) will announce earnings of $0.12 per share for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for Gladstone Land’s earnings. Gladstone Land posted earnings per share of $0.11 during the same quarter last year, which would indicate a positive year over year growth rate of 9.1%. The business is scheduled to report its next earnings results on Wednesday, August 14th.
According to Zacks, analysts expect that Gladstone Land will report full-year earnings of $0.48 per share for the current financial year, with EPS estimates ranging from $0.45 to $0.50. For the next financial year, analysts expect that the firm will post earnings of $0.54 per share, with EPS estimates ranging from $0.53 to $0.55. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Gladstone Land.
Gladstone Land (NASDAQ:LAND) last released its quarterly earnings results on Tuesday, May 7th. The real estate investment trust reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.15). The firm had revenue of $7.83 million for the quarter. Gladstone Land had a return on equity of 1.73% and a net margin of 8.09%.
Several research analysts have weighed in on the company. ValuEngine downgraded Gladstone Land from a “buy” rating to a “hold” rating in a research note on Tuesday, April 9th. Zacks Investment Research downgraded Gladstone Land from a “hold” rating to a “sell” rating in a research note on Friday, May 24th. Finally, Maxim Group reiterated a “buy” rating and issued a $15.00 target price on shares of Gladstone Land in a research note on Thursday, February 28th.
NASDAQ:LAND traded up $0.10 during mid-day trading on Wednesday, reaching $12.44. 84,972 shares of the stock were exchanged, compared to its average volume of 86,007. The company has a market capitalization of $229.46 million, a PE ratio of 24.39 and a beta of 0.94. The company has a quick ratio of 3.44, a current ratio of 3.44 and a debt-to-equity ratio of 1.71. Gladstone Land has a 1 year low of $11.12 and a 1 year high of $13.85.
The business also recently announced a monthly dividend, which was paid on Friday, May 31st. Shareholders of record on Wednesday, May 22nd were paid a $0.0445 dividend. The ex-dividend date of this dividend was Tuesday, May 21st. This represents a $0.53 annualized dividend and a dividend yield of 4.29%. Gladstone Land’s dividend payout ratio (DPR) is currently 103.92%.
In related news, CEO David Gladstone bought 100,000 shares of the stock in a transaction on Friday, March 15th. The shares were bought at an average cost of $12.00 per share, for a total transaction of $1,200,000.00. Following the purchase, the chief executive officer now owns 2,015,300 shares of the company’s stock, valued at approximately $24,183,600. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 12.41% of the company’s stock.
Several hedge funds have recently made changes to their positions in LAND. Daiwa Securities Group Inc. grew its position in shares of Gladstone Land by 160.0% in the first quarter. Daiwa Securities Group Inc. now owns 2,600 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 1,600 shares during the period. BNP Paribas Arbitrage SA grew its holdings in shares of Gladstone Land by 576.0% during the first quarter. BNP Paribas Arbitrage SA now owns 3,042 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 2,592 shares during the last quarter. Citigroup Inc. grew its holdings in shares of Gladstone Land by 71.8% during the first quarter. Citigroup Inc. now owns 3,841 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 1,605 shares during the last quarter. FCA Corp TX bought a new position in shares of Gladstone Land during the fourth quarter valued at approximately $111,000. Finally, Advisor Group Inc. grew its holdings in shares of Gladstone Land by 13.0% during the fourth quarter. Advisor Group Inc. now owns 10,407 shares of the real estate investment trust’s stock valued at $119,000 after purchasing an additional 1,197 shares during the last quarter. Institutional investors own 30.64% 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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