Gladstone Land Corporation (NASDAQ:LAND) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday.
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 a number of other research reports. Hilliard Lyons lowered Gladstone Land Corporation from a “buy” rating to a “neutral” rating in a research note on Wednesday, November 8th. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating and set a $14.00 price objective (up previously 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.
Gladstone Land Corporation (NASDAQ LAND) traded down $0.05 on Friday, hitting $13.71. The company had a trading volume of 31,100 shares, compared to its average volume of 63,878. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 2.48. The firm has a market capitalization of $186.98, a price-to-earnings ratio of 24.70 and a beta of 0.98. Gladstone Land Corporation has a fifty-two week low of $10.33 and a fifty-two week high of $14.29.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its stake in shares of Gladstone Land Corporation by 488.4% during 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 acquiring an additional 102,912 shares during the last quarter. Stelac Advisory Services LLC boosted its stake in shares of Gladstone Land Corporation by 48.3% during 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 acquiring an additional 5,719 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Gladstone Land Corporation by 26.4% during 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 acquiring an additional 4,227 shares during the last quarter. RMR Advisors LLC acquired a new stake in shares of Gladstone Land Corporation during the third quarter valued at $272,000. Finally, Royal Bank of Canada lifted its position in Gladstone Land Corporation by 81.4% during the second quarter. Royal Bank of Canada now owns 10,710 shares of the real estate investment trust’s stock worth $125,000 after buying an additional 4,806 shares during the period. 20.18% of the stock is currently owned by institutional investors and hedge funds.
Gladstone Land Corporation Company Profile
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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