Gladstone Land (NASDAQ:LAND) Rating Lowered to “Sell” at Wall Street Zen

Gladstone Land (NASDAQ:LAND) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Sunday.

Several other brokerages have also recently issued reports on LAND. Zacks Research raised Gladstone Land from a “hold” rating to a “strong-buy” rating in a report on Wednesday. Alliance Global Partners reaffirmed a “neutral” rating on shares of Gladstone Land in a research note on Tuesday. Weiss Ratings reiterated a “sell (d)” rating on shares of Gladstone Land in a research report on Wednesday, October 8th. Finally, Industrial Alliance Securities set a $10.00 target price on shares of Gladstone Land in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Gladstone Land has a consensus rating of “Moderate Buy” and an average price target of $10.00.

Gladstone Land Stock Performance

Shares of LAND opened at $9.60 on Friday. The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 0.74. Gladstone Land has a 52-week low of $8.47 and a 52-week high of $12.24. The company has a 50-day simple moving average of $9.20 and a 200-day simple moving average of $9.54. The company has a market capitalization of $357.76 million, a PE ratio of -21.82, a P/E/G ratio of 6.75 and a beta of 1.14.

Gladstone Land (NASDAQ:LAND) last released its quarterly earnings data on Wednesday, November 5th. The real estate investment trust reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.07. Gladstone Land had a net margin of 10.69% and a return on equity of 1.14%. The firm had revenue of $17.79 million for the quarter, compared to the consensus estimate of $15.08 million. Equities research analysts predict that Gladstone Land will post 0.52 earnings per share for the current fiscal year.

Institutional Trading of Gladstone Land

A number of hedge funds and other institutional investors have recently modified their holdings of LAND. Parallel Advisors LLC boosted its holdings in Gladstone Land by 1,146.9% in the second quarter. Parallel Advisors LLC now owns 3,454 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 3,177 shares during the last quarter. CWM LLC lifted its holdings in Gladstone Land by 116.0% during the 2nd quarter. CWM LLC now owns 4,504 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 2,419 shares during the last quarter. Signaturefd LLC lifted its stake in Gladstone Land by 73.5% during the first quarter. Signaturefd LLC now owns 4,924 shares of the real estate investment trust’s stock worth $52,000 after purchasing an additional 2,086 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Gladstone Land by 164.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,051 shares of the real estate investment trust’s stock valued at $55,000 after buying an additional 3,761 shares during the last quarter. Finally, Strs Ohio acquired a new position in Gladstone Land in the first quarter valued at approximately $63,000. 53.60% of the stock is owned by hedge funds and other institutional investors.

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.