Equities analysts expect that Gladstone Land Co. (NASDAQ:LAND) will report $16.02 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Gladstone Land’s earnings. The highest sales estimate is $16.05 million and the lowest is $15.98 million. Gladstone Land reported sales of $15.28 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 4.8%. The company is scheduled to announce its next earnings report on Wednesday, May 5th.
On average, analysts expect that Gladstone Land will report full-year sales of $69.01 million for the current financial year, with estimates ranging from $67.48 million to $70.54 million. For the next fiscal year, analysts expect that the firm will post sales of $75.78 million, with estimates ranging from $73.67 million to $77.89 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Gladstone Land.
Gladstone Land (NASDAQ:LAND) last posted its quarterly earnings data on Tuesday, February 23rd. The real estate investment trust reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.29). Gladstone Land had a return on equity of 0.88% and a net margin of 4.83%.
Gladstone Land stock opened at $18.67 on Thursday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.54 and a current ratio of 0.54. The business’s 50-day simple moving average is $18.45 and its 200-day simple moving average is $15.89. The firm has a market capitalization of $499.29 million, a PE ratio of -155.57 and a beta of 0.72. Gladstone Land has a 52 week low of $11.60 and a 52 week high of $19.73.
The company also recently declared a monthly dividend, which was paid on Wednesday, March 31st. Investors of record on Thursday, March 18th were paid a dividend of $0.045 per share. The ex-dividend date was Wednesday, March 17th. This represents a $0.54 annualized dividend and a yield of 2.89%. Gladstone Land’s dividend payout ratio is 94.74%.
A number of institutional investors and hedge funds have recently modified their holdings of LAND. Knights of Columbus Asset Advisors LLC boosted its holdings in Gladstone Land by 0.7% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 74,402 shares of the real estate investment trust’s stock valued at $1,089,000 after purchasing an additional 548 shares in the last quarter. Moors & Cabot Inc. boosted its holdings in Gladstone Land by 2.6% during the fourth quarter. Moors & Cabot Inc. now owns 26,714 shares of the real estate investment trust’s stock valued at $392,000 after purchasing an additional 685 shares in the last quarter. Cahill Financial Advisors Inc. boosted its holdings in Gladstone Land by 4.3% during the fourth quarter. Cahill Financial Advisors Inc. now owns 26,516 shares of the real estate investment trust’s stock valued at $388,000 after purchasing an additional 1,082 shares in the last quarter. Northern Trust Corp boosted its holdings in Gladstone Land by 0.6% during the fourth quarter. Northern Trust Corp now owns 297,312 shares of the real estate investment trust’s stock valued at $4,352,000 after purchasing an additional 1,864 shares in the last quarter. Finally, Punch & Associates Investment Management Inc. boosted its holdings in Gladstone Land by 0.8% during the third quarter. Punch & Associates Investment Management Inc. now owns 249,446 shares of the real estate investment trust’s stock valued at $3,747,000 after purchasing an additional 1,970 shares in the last quarter. Hedge funds and other institutional investors own 32.59% of the company’s stock.
About Gladstone Land
Founded in 1997, Gladstone Land is a publicly traded real estate investment trust that acquires and owns farmland and farm-related properties located in major agricultural markets in the U.S. and leases its properties to unrelated third-party farmers. The Company, which reports the aggregate fair value of its farmland holdings on a quarterly basis, currently owns 127 farms, comprised of approximately 94,000 acres in 13 different states, valued at approximately $1.0 billion.
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