Alliance Global Partners Downgrades Gladstone Land (NASDAQ:LAND) to Neutral

Gladstone Land (NASDAQ:LAND - Get Free Report) was downgraded by equities research analysts at Alliance Global Partners from a "buy" rating to a "neutral" rating in a research note issued on Friday, MarketBeat reports. They presently have a $14.50 price objective on the real estate investment trust's stock, down from their previous price objective of $16.00. Alliance Global Partners' target price indicates a potential upside of 12.32% from the company's current price.

Separately, Maxim Group cut shares of Gladstone Land from a "buy" rating to a "hold" rating in a research note on Monday, August 12th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Gladstone Land currently has an average rating of "Hold" and an average target price of $15.50.

Gladstone Land Trading Down 3.5 %

LAND stock traded down $0.47 during midday trading on Friday, hitting $12.91. The stock had a trading volume of 408,116 shares, compared to its average volume of 182,119. The firm has a market cap of $462.67 million, a PE ratio of -49.65, a price-to-earnings-growth ratio of 4.28 and a beta of 1.08. The company has a debt-to-equity ratio of 0.78, a current ratio of 4.43 and a quick ratio of 4.43. Gladstone Land has a 12-month low of $12.31 and a 12-month high of $15.36. The company's 50-day moving average price is $13.69 and its 200 day moving average price is $13.66.

Institutional Trading of Gladstone Land

Several institutional investors have recently made changes to their positions in the stock. Marathon Capital Management grew its stake in shares of Gladstone Land by 0.5% during the 2nd quarter. Marathon Capital Management now owns 154,271 shares of the real estate investment trust's stock valued at $2,112,000 after buying an additional 781 shares during the period. Pullen Investment Management LLC grew its stake in shares of Gladstone Land by 1.7% during the 2nd quarter. Pullen Investment Management LLC now owns 47,106 shares of the real estate investment trust's stock valued at $645,000 after buying an additional 803 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Gladstone Land by 9.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,864 shares of the real estate investment trust's stock valued at $190,000 after buying an additional 1,172 shares during the period. Hunter Perkins Capital Management LLC lifted its holdings in shares of Gladstone Land by 3.6% during the 3rd quarter. Hunter Perkins Capital Management LLC now owns 37,450 shares of the real estate investment trust's stock valued at $521,000 after acquiring an additional 1,300 shares in the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of Gladstone Land by 8.7% during the 2nd quarter. Sei Investments Co. now owns 22,512 shares of the real estate investment trust's stock valued at $308,000 after acquiring an additional 1,804 shares in the last quarter. 53.60% of the stock is owned by hedge funds and other institutional investors.

Gladstone Land Company Profile

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 169 farms, comprised of approximately 116,000 acres in 15 different states and over 45,000 acre-feet of banked water in California, valued at a total of approximately $1.6 billion.