Wall Street analysts expect that Gladstone Land Co. (NASDAQ:LAND) will announce $16.02 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made 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 in the same quarter last year, which would suggest a positive year-over-year growth rate of 4.8%. The firm is scheduled to report its next quarterly 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 fiscal year, with estimates ranging from $67.48 million to $70.54 million. For the next financial year, analysts forecast that the business will post sales of $75.78 million, with estimates ranging from $73.67 million to $77.89 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Gladstone Land.
Gladstone Land (NASDAQ:LAND) last posted its earnings results on Tuesday, February 23rd. The real estate investment trust reported ($0.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate 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. Gladstone Land has a 52 week low of $11.60 and a 52 week high of $19.73. The business has a 50-day simple moving average of $18.45 and a 200 day simple moving average of $15.89. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 1.59. The stock has a market cap of $499.29 million, a price-to-earnings ratio of -155.57 and a beta of 0.72.
The business also recently announced a monthly dividend, which was paid on Wednesday, March 31st. Stockholders of record on Thursday, March 18th were paid a $0.045 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date was Wednesday, March 17th. Gladstone Land’s dividend payout ratio (DPR) is presently 94.74%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC bought a new stake in shares of Gladstone Land in the 3rd quarter valued at about $164,000. Moors & Cabot Inc. lifted its stake in shares of Gladstone Land by 2.6% in the 4th quarter. Moors & Cabot Inc. now owns 26,714 shares of the real estate investment trust’s stock valued at $392,000 after acquiring an additional 685 shares during the last quarter. Foresight Wealth Management LLC lifted its stake in shares of Gladstone Land by 1.6% in the 4th quarter. Foresight Wealth Management LLC now owns 128,925 shares of the real estate investment trust’s stock valued at $1,887,000 after acquiring an additional 2,030 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Gladstone Land by 14.8% in the 4th quarter. Rhumbline Advisers now owns 31,348 shares of the real estate investment trust’s stock valued at $459,000 after acquiring an additional 4,041 shares during the last quarter. Finally, State of Wisconsin Investment Board lifted its stake in shares of Gladstone Land by 13.0% in the 4th quarter. State of Wisconsin Investment Board now owns 22,600 shares of the real estate investment trust’s stock valued at $331,000 after acquiring an additional 2,600 shares during the last quarter. 32.59% of the stock is owned by institutional investors.
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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