Zacks: Analysts Anticipate Gladstone Land Corp (LAND) Will Announce Earnings of $0.18 Per Share
Equities analysts expect that Gladstone Land Corp (NASDAQ:LAND) will report $0.18 earnings per share for the current quarter, Zacks reports. Zero analysts have made estimates for Gladstone Land Corp’s earnings. Gladstone Land Corp posted earnings per share of $0.14 during the same quarter last year, which would suggest a positive year over year growth rate of 28.6%. The business is scheduled to report its next earnings results on Tuesday, August 1st.
On average, analysts expect that Gladstone Land Corp will report full year earnings of $0.65 per share for the current fiscal year, with EPS estimates ranging from $0.63 to $0.69. For the next year, analysts anticipate that the company will report earnings of $0.73 per share, with EPS estimates ranging from $0.65 to $0.80. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover Gladstone Land Corp.
Gladstone Land Corp (NASDAQ:LAND) last issued its quarterly earnings data on Tuesday, February 21st. The real estate investment trust reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by $0.13. The business had revenue of $4.92 million during the quarter, compared to the consensus estimate of $5.43 million. Gladstone Land Corp had a return on equity of 0.92% and a net margin of 4.80%.
A number of brokerages have recently weighed in on LAND. Singular Research began coverage on shares of Gladstone Land Corp in a report on Thursday. They issued a “buy” rating and a $14.25 price objective on the stock. Zacks Investment Research upgraded shares of Gladstone Land Corp from a “sell” rating to a “hold” rating in a report on Wednesday, March 15th.
In related news, CEO David Gladstone bought 20,000 shares of the company’s stock in a transaction that occurred on Monday, March 13th. The shares were purchased at an average cost of $11.15 per share, with a total value of $223,000.00. Following the transaction, the chief executive officer now directly owns 1,968,585 shares of the company’s stock, valued at approximately $21,949,722.75. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders purchased a total of 21,150 shares of company stock worth $235,689 over the last ninety days. Insiders own 21.67% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE increased its position in Gladstone Land Corp by 1.2% in the first quarter. Bank of America Corp DE now owns 9,618 shares of the real estate investment trust’s stock worth $107,000 after buying an additional 118 shares during the period. Stelac Advisory Services LLC increased its position in Gladstone Land Corp by 2.3% in the first quarter. Stelac Advisory Services LLC now owns 11,297 shares of the real estate investment trust’s stock worth $120,000 after buying an additional 250 shares during the period. JPMorgan Chase & Co. increased its position in Gladstone Land Corp by 10.4% in the first quarter. JPMorgan Chase & Co. now owns 9,890 shares of the real estate investment trust’s stock worth $110,000 after buying an additional 929 shares during the period. Morgan Stanley increased its position in Gladstone Land Corp by 7.5% in the first quarter. Morgan Stanley now owns 13,489 shares of the real estate investment trust’s stock worth $150,000 after buying an additional 939 shares during the period. Finally, Sei Investments Co. increased its position in Gladstone Land Corp by 10.0% in the first quarter. Sei Investments Co. now owns 11,098 shares of the real estate investment trust’s stock worth $123,000 after buying an additional 1,007 shares during the period. 25.88% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Gladstone Land Corp (NASDAQ:LAND) traded up 0.136% during trading on Friday, reaching $11.085. 2,529 shares of the company were exchanged. Gladstone Land Corp has a 1-year low of $9.51 and a 1-year high of $12.89. The stock has a market capitalization of $111.12 million, a P/E ratio of 246.333 and a beta of 0.98. The firm has a 50-day moving average price of $11.11 and a 200-day moving average price of $11.31.
The business also recently announced a monthly dividend, which will be paid on Friday, June 30th. Investors of record on Wednesday, June 21st will be given a $0.0435 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date of this dividend is Monday, June 19th. Gladstone Land Corp’s dividend payout ratio (DPR) is 742.86%.
Gladstone Land Corp Company Profile
Gladstone Land Corporation is an agricultural real estate investment trust (REIT). The Company is engaged in the business of owning and leasing farmland. The Company also owns various farm-related facilities, such as cooling facilities, buildings utilized for the storage and assembly of boxes for shipping produce (box barns), packinghouses, processing facilities and various storage facilities.
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