Zacks: Analysts Expect Gladstone Land (LAND) Will Post Earnings of $0.13 Per Share

Wall Street brokerages forecast that Gladstone Land (NASDAQ:LAND) will post $0.13 earnings per share for the current quarter, Zacks Investment Research reports. Zero analysts have made estimates for Gladstone Land’s earnings. Gladstone Land posted earnings of $0.14 per share in the same quarter last year, which would indicate a negative year over year growth rate of 7.1%. The company is scheduled to announce its next earnings report on Tuesday, August 14th.

On average, analysts expect that Gladstone Land will report full-year earnings of $0.59 per share for the current year, with EPS estimates ranging from $0.54 to $0.63. For the next year, analysts anticipate that the firm will report earnings of $0.64 per share, with EPS estimates ranging from $0.62 to $0.65. Zacks Investment Research’s EPS averages 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 posted its earnings results on Tuesday, February 20th. The real estate investment trust reported ($0.02) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.17). The business had revenue of $6.81 million for the quarter. Gladstone Land had a negative return on equity of 0.44% and a negative net margin of 1.84%.

A number of analysts recently issued reports on the stock. Maxim Group reissued a “buy” rating and set a $15.00 target price on shares of Gladstone Land in a research report on Wednesday, May 9th. ValuEngine downgraded shares of Gladstone Land from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. Gladstone Land currently has an average rating of “Hold” and an average price target of $14.75.

LAND traded up $0.04 on Tuesday, reaching $12.82. 300 shares of the company’s stock were exchanged, compared to its average volume of 80,147. The company has a market cap of $195.19 million, a PE ratio of 22.78 and a beta of 0.85. Gladstone Land has a twelve month low of $12.70 and a twelve month high of $13.00. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.31 and a current ratio of 0.31.

The firm also recently announced a monthly dividend, which will be paid on Thursday, May 31st. Investors of record on Tuesday, May 22nd will be given a dividend of $0.0443 per share. This represents a $0.53 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date of this dividend is Monday, May 21st. Gladstone Land’s dividend payout ratio (DPR) is presently 94.64%.

In other Gladstone Land news, Director Walter H. Wilkinson bought 4,700 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was purchased at an average price of $12.58 per share, with a total value of $59,126.00. Following the transaction, the director now owns 9,791 shares in the company, valued at $123,170.78. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 16.08% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada increased its position in Gladstone Land by 17.6% during the 1st quarter. Royal Bank of Canada now owns 80,129 shares of the real estate investment trust’s stock worth $968,000 after purchasing an additional 12,009 shares in the last quarter. Millennium Management LLC boosted its holdings in Gladstone Land by 332.7% in the 1st quarter. Millennium Management LLC now owns 292,568 shares of the real estate investment trust’s stock worth $3,534,000 after acquiring an additional 224,956 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its holdings in Gladstone Land by 318.3% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 32,445 shares of the real estate investment trust’s stock worth $392,000 after acquiring an additional 24,688 shares during the period. Element Capital Management LLC purchased a new position in Gladstone Land in the 1st quarter worth approximately $162,000. Finally, CVI Holdings LLC purchased a new position in Gladstone Land in the 1st quarter worth approximately $898,000. 24.22% of the stock is owned by hedge funds and other 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 farmers, and pays monthly distributions to its stockholders. The Company reports the current fair value of its farmland on a quarterly basis; as of December 31, 2017, the estimated net asset value of the Company was $13.96 per share.

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