Gladstone Land Corp (NASDAQ:LAND) has been assigned an average rating of “Buy” from the six ratings firms that are currently covering the firm, Marketbeat reports. Six analysts have rated the stock with a buy recommendation. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $12.10.
LAND has been the topic of a number of recent research reports. JMP Securities cut their price objective on shares of Gladstone Land Corp from $14.00 to $13.00 and set a “market outperform” rating on the stock in a report on Monday, December 14th. Zacks Investment Research upgraded shares of Gladstone Land Corp from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a report on Monday, November 9th. Finally, Janney Montgomery Scott began coverage on shares of Gladstone Land Corp in a report on Thursday, December 3rd. They set a “buy” rating and a $10.50 price target on the stock.
Gladstone Land Corp (NASDAQ:LAND) traded down 0.12% during midday trading on Monday, hitting $8.64. 5,394 shares of the company were exchanged. The stock has a market capitalization of $78.30 million and a price-to-earnings ratio of 278.71. Gladstone Land Corp has a 1-year low of $8.20 and a 1-year high of $12.39. The stock has a 50 day moving average of $8.89 and a 200-day moving average of $9.54.
Gladstone Land Corp (NASDAQ:LAND) last announced its quarterly earnings data on Tuesday, November 3rd. The company reported $0.02 earnings per share for the quarter. The business earned $3.08 million during the quarter, compared to analysts’ expectations of $3.15 million. Equities analysts expect that Gladstone Land Corp will post $0.03 earnings per share for the current year.
The business also recently announced a monthly dividend, which was paid on Thursday, December 31st. Investors of record on Friday, December 18th were issued a $0.04 dividend. This represents a $0.48 annualized dividend and a yield of 5.55%. The ex-dividend date was Wednesday, December 16th.
Gladstone Land Corporation is an externally-managed, agricultural Real Estate Investment Trust (NASDAQ:LAND). The Company is engaged in the business of owning and leasing farmland. The Company is engaged in leasing its farms to independent farming operations and corporate farming operations. As of December 31, 2014, the Company owns 8,370 acres consisted of 33 farms, 15 in California, nine in Florida, four in Michigan, four in Oregon and one in Arizona. The Company also owns three cooling facilities and one box barn. These properties are leased to 30 separate and unrelated tenants that are either corporate or independent farmers. The Company’s business and real estate portfolio investments are managed by Gladstone Management Corporation.