StockNews.com Downgrades Gladstone Land (NASDAQ:LAND) to Sell

Gladstone Land (NASDAQ:LAND) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a report released on Monday.

Separately, Alliance Global Partners cut shares of Gladstone Land from a “buy” rating to a “neutral” rating and reduced their price target for the company from $16.00 to $14.50 in a research report on Friday, November 8th.

Gladstone Land Trading Up 0.5 %

Gladstone Land stock traded up $0.05 during midday trading on Monday, reaching $11.15. 335,451 shares of the stock traded hands, compared to its average volume of 349,030. The company has a current ratio of 0.99, a quick ratio of 0.70 and a debt-to-equity ratio of 0.77. The firm has a market cap of $403.46 million, a PE ratio of -38.45, a price-to-earnings-growth ratio of 3.74 and a beta of 1.05. The company has a 50-day simple moving average of $10.87 and a two-hundred day simple moving average of $12.36. Gladstone Land has a 12-month low of $10.27 and a 12-month high of $15.36.

Gladstone Land (NASDAQ:LAND) last posted its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.19. Gladstone Land had a return on equity of 1.89% and a net margin of 15.59%. The business had revenue of $21.10 million for the quarter, compared to analyst estimates of $20.45 million. Research analysts expect that Gladstone Land will post 0.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Gladstone Land

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets lifted its position in Gladstone Land by 45.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,409 shares of the real estate investment trust’s stock worth $159,000 after acquiring an additional 3,556 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Gladstone Land by 62.2% during the third quarter. JPMorgan Chase & Co. now owns 139,298 shares of the real estate investment trust’s stock worth $1,936,000 after purchasing an additional 53,400 shares during the last quarter. Barclays PLC lifted its holdings in shares of Gladstone Land by 90.2% during the third quarter. Barclays PLC now owns 85,297 shares of the real estate investment trust’s stock worth $1,186,000 after purchasing an additional 40,459 shares during the period. State Street Corp grew its position in Gladstone Land by 2.1% in the 3rd quarter. State Street Corp now owns 795,775 shares of the real estate investment trust’s stock valued at $11,061,000 after buying an additional 16,079 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Gladstone Land by 1.5% in the third quarter. Geode Capital Management LLC now owns 900,632 shares of the real estate investment trust’s stock valued at $12,521,000 after acquiring an additional 13,217 shares in the last quarter. Hedge funds and other institutional investors own 53.60% of the company’s stock.

About Gladstone Land

Founded in 1997, Gladstone Land is a publicly traded real estate investment trust that acquires and owns farmland and farm-related properties located in major agricultural markets in the U.S. and leases its properties to unrelated third-party farmers. The Company, which reports the aggregate fair value of its farmland holdings on a quarterly basis, currently owns 169 farms, comprised of approximately 116,000 acres in 15 different states and over 45,000 acre-feet of banked water in California, valued at a total of approximately $1.6 billion.