Wall Street brokerages forecast that Gladstone Land Corp (NASDAQ:LAND) will post earnings per share (EPS) of $0.15 for the current quarter, Zacks reports. Zero analysts have provided estimates for Gladstone Land’s earnings. Gladstone Land reported earnings per share of $0.14 during the same quarter last year, which would indicate a positive year over year growth rate of 7.1%. The firm is scheduled to report its next quarterly earnings results after the market closes on Tuesday, February 20th.
According to Zacks, analysts expect that Gladstone Land will report full year earnings of $0.58 per share for the current financial year, with EPS estimates ranging from $0.57 to $0.58. For the next financial year, analysts forecast that the company will report earnings of $0.64 per share, with EPS estimates ranging from $0.62 to $0.68. Zacks’ EPS averages are an average based on a survey of research analysts that cover Gladstone Land.
Gladstone Land (NASDAQ:LAND) last posted its quarterly earnings results on Tuesday, November 7th. The real estate investment trust reported ($0.02) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.18). Gladstone Land had a return on equity of 0.25% and a net margin of 1.14%.
Several large investors have recently added to or reduced their stakes in the business. RMR Advisors LLC increased its holdings in shares of Gladstone Land by 89.7% in the fourth quarter. RMR Advisors LLC now owns 37,935 shares of the real estate investment trust’s stock valued at $509,000 after purchasing an additional 17,935 shares during the last quarter. Asset Management One Co. Ltd. increased its holdings in shares of Gladstone Land by 33,737.0% in the third quarter. Asset Management One Co. Ltd. now owns 18,272 shares of the real estate investment trust’s stock valued at $250,000 after purchasing an additional 18,218 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Gladstone Land by 488.4% in the third quarter. JPMorgan Chase & Co. now owns 123,985 shares of the real estate investment trust’s stock valued at $1,697,000 after purchasing an additional 102,912 shares during the last quarter. Stelac Advisory Services LLC increased its holdings in shares of Gladstone Land by 48.3% in the third quarter. Stelac Advisory Services LLC now owns 17,568 shares of the real estate investment trust’s stock valued at $239,000 after purchasing an additional 5,719 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in shares of Gladstone Land by 26.4% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 20,223 shares of the real estate investment trust’s stock valued at $275,000 after purchasing an additional 4,227 shares during the last quarter. Hedge funds and other institutional investors own 26.34% of the company’s stock.
Gladstone Land (NASDAQ LAND) traded down $0.40 during midday trading on Thursday, reaching $12.33. 49,740 shares of the company’s stock traded hands, compared to its average volume of 65,515. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.86 and a quick ratio of 0.86. Gladstone Land has a 1 year low of $10.77 and a 1 year high of $14.29. The company has a market capitalization of $167.61, a price-to-earnings ratio of 411.14 and a beta of 0.98.
The business also recently disclosed a monthly dividend, which will be paid on Friday, March 30th. Shareholders of record on Tuesday, March 20th will be issued a $0.0443 dividend. The ex-dividend date of this dividend is Monday, March 19th. This represents a $0.53 annualized dividend and a dividend yield of 4.31%. Gladstone Land’s dividend payout ratio is currently 1,767.26%.
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About Gladstone Land
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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