Brokerages Expect Gladstone Land Corporation (LAND) to Announce $0.16 EPS
Equities research analysts predict that Gladstone Land Corporation (NASDAQ:LAND) will post $0.16 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Gladstone Land Corporation’s earnings. The business is expected to issue its next quarterly earnings report on Monday, November 13th.
On average, analysts expect that Gladstone Land Corporation will report full year earnings of $0.60 per share for the current fiscal year, with EPS estimates ranging from $0.59 to $0.61. For the next financial year, analysts anticipate that the company will report earnings of $0.68 per share, with EPS estimates ranging from $0.63 to $0.72. Zacks’ EPS averages are a mean average based on a survey of research analysts that cover Gladstone Land Corporation.
Gladstone Land Corporation (NASDAQ:LAND) last issued its earnings results on Tuesday, August 8th. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.04. Gladstone Land Corporation had a return on equity of 0.57% and a net margin of 2.58%. The firm had revenue of $6 million during the quarter.
A number of research firms have commented on LAND. Zacks Investment Research cut shares of Gladstone Land Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Ladenburg Thalmann Financial Services reissued a “buy” rating on shares of Gladstone Land Corporation in a report on Wednesday, June 28th. Finally, Singular Research assumed coverage on shares of Gladstone Land Corporation in a report on Thursday, May 18th. They set a “buy” rating and a $14.25 target price on the stock.
Shares of Gladstone Land Corporation (NASDAQ:LAND) traded down 3.43% on Friday, hitting $12.40. The company’s stock had a trading volume of 906,188 shares. The firm has a market cap of $148.94 million, a price-to-earnings ratio of 269.57 and a beta of 1.00. Gladstone Land Corporation has a one year low of $9.51 and a one year high of $14.09. The stock has a 50-day moving average price of $12.91 and a 200 day moving average price of $11.75.
The company also recently disclosed a monthly dividend, which will be paid on Friday, September 29th. Investors of record on Wednesday, September 20th will be issued a $0.044 dividend. The ex-dividend date is Tuesday, September 19th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 4.26%. Gladstone Land Corporation’s dividend payout ratio (DPR) is presently 1,060.21%.
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In related news, CEO David Gladstone bought 20,000 shares of the stock in a transaction on Wednesday, June 14th. The shares were purchased at an average price of $11.38 per share, with a total value of $227,600.00. Following the purchase, the chief executive officer now owns 1,988,585 shares in the company, valued at $22,630,097.30. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 21.87% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the company. Sei Investments Co. boosted its position in shares of Gladstone Land Corporation by 10.0% during the 1st quarter. Sei Investments Co. now owns 11,098 shares of the real estate investment trust’s stock valued at $123,000 after purchasing an additional 1,007 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Gladstone Land Corporation by 10.4% during the 1st quarter. JPMorgan Chase & Co. now owns 9,890 shares of the real estate investment trust’s stock valued at $110,000 after purchasing an additional 929 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Gladstone Land Corporation by 9.6% during the 2nd quarter. Janney Montgomery Scott LLC now owns 31,841 shares of the real estate investment trust’s stock valued at $372,000 after purchasing an additional 2,790 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Gladstone Land Corporation by 13.8% during the 1st quarter. Bank of New York Mellon Corp now owns 47,587 shares of the real estate investment trust’s stock valued at $528,000 after purchasing an additional 5,786 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its position in shares of Gladstone Land Corporation by 22.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 15,192 shares of the real estate investment trust’s stock valued at $169,000 after purchasing an additional 2,830 shares in the last quarter. Institutional investors own 24.66% of the company’s stock.
About Gladstone Land Corporation
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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