Several other equities analysts have also commented on LAND. B. Riley initiated coverage on shares of Gladstone Land in a research report on Tuesday, November 26th. They issued a buy rating and a $13.50 price objective for the company. Maxim Group reissued a buy rating and set a $15.00 target price on shares of Gladstone Land in a research report on Friday, November 8th. ValuEngine upgraded shares of Gladstone Land from a hold rating to a buy rating in a research note on Tuesday, August 6th. Aegis initiated coverage on shares of Gladstone Land in a report on Monday, October 7th. They issued a buy rating and a $13.50 price target for the company. Finally, Zacks Investment Research upgraded shares of Gladstone Land from a hold rating to a buy rating and set a $14.00 price objective for the company in a research note on Saturday, November 16th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. Gladstone Land currently has a consensus rating of Buy and an average price target of $14.00.
Gladstone Land stock opened at $12.63 on Friday. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.57 and a current ratio of 0.57. The stock has a market cap of $265.48 million, a PE ratio of 24.76 and a beta of 0.83. The stock has a 50-day moving average of $12.09 and a two-hundred day moving average of $11.91. Gladstone Land has a one year low of $11.12 and a one year high of $13.85.
In other news, CEO David Gladstone acquired 135,739 shares of Gladstone Land stock in a transaction dated Monday, September 9th. The stock was purchased at an average cost of $11.86 per share, for a total transaction of $1,609,864.54. Following the completion of the purchase, the chief executive officer now directly owns 2,224,324 shares in the company, valued at approximately $26,380,482.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 12.41% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of LAND. Nisa Investment Advisors LLC increased its holdings in Gladstone Land by 68.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,649 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 1,076 shares during the period. JPMorgan Chase & Co. raised its position in Gladstone Land by 27.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,481 shares of the real estate investment trust’s stock worth $51,000 after buying an additional 967 shares during the last quarter. Metropolitan Life Insurance Co NY lifted its stake in Gladstone Land by 817.2% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 7,695 shares of the real estate investment trust’s stock valued at $92,000 after acquiring an additional 6,856 shares during the period. Cahill Financial Advisors Inc. lifted its stake in Gladstone Land by 6.3% during the 2nd quarter. Cahill Financial Advisors Inc. now owns 15,004 shares of the real estate investment trust’s stock valued at $173,000 after acquiring an additional 893 shares during the period. Finally, ETF Managers Group LLC purchased a new stake in shares of Gladstone Land in the 2nd quarter valued at $177,000. Hedge funds and other institutional investors own 32.52% of the company’s stock.
About Gladstone Land
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 farmer-tenants. The Company reports the current fair value of its farmland on a quarterly basis; as of December 31, 2018, its estimated net asset value was $12.88 per share.
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