Equities analysts expect Gladstone Land Corp (NASDAQ:LAND) to report earnings of $0.12 per share for the current quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Gladstone Land’s earnings. Gladstone Land posted earnings of $0.14 per share during the same quarter last year, which would indicate a negative year over year growth rate of 14.3%. The business is scheduled to report its next earnings report on Thursday, November 8th.
According to Zacks, analysts expect that Gladstone Land will report full year earnings of $0.45 per share for the current year, with EPS estimates ranging from $0.38 to $0.51. For the next year, analysts anticipate that the firm will post earnings of $0.56 per share, with EPS estimates ranging from $0.53 to $0.59. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Gladstone Land.
LAND has been the topic of a number of research analyst reports. Zacks Investment Research lowered Gladstone Land from a “hold” rating to a “sell” rating in a research report on Thursday, July 19th. ValuEngine raised Gladstone Land from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st.
Shares of NASDAQ LAND traded up $0.07 during mid-day trading on Friday, reaching $13.10. 76,945 shares of the company’s stock were exchanged, compared to its average volume of 58,389. The firm has a market cap of $206.02 million, a P/E ratio of 23.39 and a beta of 0.98. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.26 and a quick ratio of 0.26. Gladstone Land has a twelve month low of $11.36 and a twelve month high of $13.98.
The firm also recently declared a dividend, which will be paid on Friday, November 30th. Stockholders of record on Tuesday, November 20th will be given a dividend of $0.044 per share. The ex-dividend date is Monday, November 19th. This is a positive change from Gladstone Land’s previous dividend of $0.03. Gladstone Land’s dividend payout ratio (DPR) is currently 94.64%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in LAND. BlackRock Inc. raised its position in shares of Gladstone Land by 1,121.7% during the second quarter. BlackRock Inc. now owns 649,563 shares of the real estate investment trust’s stock worth $8,229,000 after purchasing an additional 596,396 shares during the period. Millennium Management LLC grew its holdings in shares of Gladstone Land by 332.7% during the first quarter. Millennium Management LLC now owns 292,568 shares of the real estate investment trust’s stock worth $3,534,000 after buying an additional 224,956 shares in the last quarter. Foster & Motley Inc. grew its holdings in shares of Gladstone Land by 90.1% during the second quarter. Foster & Motley Inc. now owns 462,072 shares of the real estate investment trust’s stock worth $5,854,000 after buying an additional 218,992 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Gladstone Land by 31.3% during the second quarter. Renaissance Technologies LLC now owns 595,319 shares of the real estate investment trust’s stock worth $7,543,000 after buying an additional 141,919 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Gladstone Land by 175.6% during the second quarter. Northern Trust Corp now owns 170,666 shares of the real estate investment trust’s stock worth $2,162,000 after buying an additional 108,748 shares in the last quarter. 35.85% of the stock is currently owned by institutional investors.
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 farmers. The Company reports the current fair value of its farmland on a quarterly basis; as of June 30, 2018, the estimated net asset value of the Company was $13.51 per share.
Further Reading: Return on Equity (ROE)
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