Brokerages Anticipate Gladstone Land Corp (LAND) Will Announce Earnings of $0.13 Per Share

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Brokerages forecast that Gladstone Land Corp (NASDAQ:LAND) will announce earnings of $0.13 per share for the current quarter, according to Zacks. Zero analysts have issued estimates for Gladstone Land’s earnings. Gladstone Land posted earnings per share of $0.14 in the same quarter last year, which would suggest a negative year over year growth rate of 7.1%. The company is expected to announce its next quarterly earnings report on Tuesday, February 19th.

On average, analysts expect that Gladstone Land will report full year earnings of $0.46 per share for the current fiscal year, with EPS estimates ranging from $0.40 to $0.51. For the next year, analysts expect that the firm will report earnings of $0.58 per share, with EPS estimates ranging from $0.56 to $0.59. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Gladstone Land.

Several research analysts have recently weighed in on LAND shares. Zacks Investment Research raised shares of Gladstone Land from a “sell” rating to a “hold” rating in a report on Friday, August 24th. ValuEngine raised shares of Gladstone Land from a “hold” rating to a “buy” rating in a report on Thursday, November 1st.

Shares of Gladstone Land stock traded up $0.07 during trading on Friday, hitting $12.86. The stock had a trading volume of 70,732 shares, compared to its average volume of 61,416. The stock has a market cap of $207.15 million, a P/E ratio of 22.96 and a beta of 0.98. Gladstone Land has a 12 month low of $11.36 and a 12 month high of $13.95. The company has a debt-to-equity ratio of 2.15, a quick ratio of 0.46 and a current ratio of 0.46.

The company also recently announced a dividend, which will be paid on Friday, November 30th. Investors of record on Tuesday, November 20th will be paid a $0.044 dividend. The ex-dividend date of this dividend is Monday, November 19th. This is a boost from Gladstone Land’s previous dividend of $0.03. Gladstone Land’s dividend payout ratio is currently 94.64%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LAND. BlackRock Inc. increased its stake in Gladstone Land by 1,121.7% in the second quarter. BlackRock Inc. now owns 649,563 shares of the real estate investment trust’s stock valued at $8,229,000 after acquiring an additional 596,396 shares during the last quarter. Millennium Management LLC increased its stake in Gladstone Land by 332.7% in the first quarter. Millennium Management LLC now owns 292,568 shares of the real estate investment trust’s stock valued at $3,534,000 after acquiring an additional 224,956 shares during the last quarter. Foster & Motley Inc. increased its stake in Gladstone Land by 90.1% in the second quarter. Foster & Motley Inc. now owns 462,072 shares of the real estate investment trust’s stock valued at $5,854,000 after acquiring an additional 218,992 shares during the last quarter. Renaissance Technologies LLC increased its stake in Gladstone Land by 31.3% in the second quarter. Renaissance Technologies LLC now owns 595,319 shares of the real estate investment trust’s stock valued at $7,543,000 after acquiring an additional 141,919 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Gladstone Land by 175.6% in the second quarter. Northern Trust Corp now owns 170,666 shares of the real estate investment trust’s stock valued at $2,162,000 after acquiring an additional 108,748 shares during the last quarter. 35.93% of the stock is currently owned by institutional investors and hedge funds.

Gladstone Land Company Profile

Gladstone Land is a publicly-traded real estate investment trust that invests in farmland and farm-related properties located in major agricultural markets in the U.S., which it leases to unrelated third-party farmers. The Company reports the current fair value of its farmland on a quarterly basis; as of June 30, 2018, the estimated net asset value of the Company was $13.51 per share.

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