Gladstone Land Corporation (LAND) Rating Lowered to Sell at Zacks Investment Research
Gladstone Land Corporation (NASDAQ:LAND) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.
According to Zacks, “Gladstone Land Corporation is a real estate investment trust. The company acquires and leases farmland to corporate and independent farmers. Its properties are situated in California and Florida. Gladstone Land Corporation is based in McLean, Virginia. “
LAND has been the topic of several other reports. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating and issued a $14.00 price target (up from $13.00) on shares of Gladstone Land Corporation in a research note on Monday, September 18th. They noted that the move was a valuation call. Hilliard Lyons cut Gladstone Land Corporation from a “buy” rating to a “neutral” rating in a research note on Wednesday, November 8th.
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Hedge funds have recently modified their holdings of the stock. Bank of America Corp DE grew its stake in Gladstone Land Corporation 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 purchasing an additional 118 shares during the period. JPMorgan Chase & Co. grew its stake in Gladstone Land Corporation 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 purchasing an additional 929 shares during the period. Royal Bank of Canada grew its stake in Gladstone Land Corporation by 81.4% in the second quarter. Royal Bank of Canada now owns 10,710 shares of the real estate investment trust’s stock worth $125,000 after purchasing an additional 4,806 shares during the period. Strs Ohio boosted its holdings in Gladstone Land Corporation by 8.9% in the second quarter. Strs Ohio now owns 11,595 shares of the real estate investment trust’s stock worth $135,000 after acquiring an additional 943 shares in the last quarter. Finally, Stelac Advisory Services LLC boosted its holdings in Gladstone Land Corporation by 4.9% in the second quarter. Stelac Advisory Services LLC now owns 11,849 shares of the real estate investment trust’s stock worth $138,000 after acquiring an additional 552 shares in the last quarter. 22.81% of the stock is currently owned by institutional investors.
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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