The Vanguard Group, Inc. recently announced the acquisition of new stake in Gladstone Land Corporation (NASDAQ:LAND). The institutional investor has increased its shareholding in the Real Estate company by 6.65% to 3.48 million shares with purchase of 0.22 million shares. This fresh investment now brings its stake to 10.04% valued currently at $63.93 million. In addition, Geode Capital Management LLC raised its holdings by 7200.0 to 0.66 million shares. And UBS Financial Services, Inc. has lifted its position by 1,988.69% or 0.47 million shares – to 0.5 million shares.
With over 0.26 million Gladstone Land Corporation (LAND) shares trading Tuesday and a closing price of $20.10 on the day, the dollar volume was approximately $5.32 million. The shares have shown a negative half year performance of -16.15% and its price on 01/17/23 gained nearly 0.90%. Currently, there are 34.61M common shares owned by the public and among those 32.15M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 6 analysts who have offered their price forecasts for LAND have a consensus price objective of $26.17. The analysts have set the share’s price value over the next 12 months at a high of $36.00 and a low of $21.00. The average price target is 23.66% above its recent price level and an upside to the estimated low will see the stock gain 4.29% over that period. But an upside of 44.17% will see the stock hit the forecast high price target while median target price for the stock is $25.00.
Insiders at the company have transacted a total of 0 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 0 of these insider trades were purchases, accounting for 0 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Gladstone Land Corporation are Vanguard Real Estate Index Fund, Vanguard Total Stock Market Index, and iShares Russell 2000 ETF. Vanguard Real Estate Index Fund owns 1.47 million shares of the company’s stock, all valued at over $26.92 million. The company sold 4485.0 shares recently to bring their total holdings to about 4.23% of the shares outstanding. iShares Russell 2000 ETF sold 7503.0 shares to bring its total holdings to over 0.72 million shares at a value of $13.17 million. iShares Russell 2000 ETF now owns shares totaling to 2.07% of the shares outstanding.
Shares of Gladstone Land Corporation (NASDAQ: LAND) opened at $19.95, up $0.03 from a prior closing price of $19.92. However, the script later moved the day high at 20.55, up 0.90%. The company’s stock has a 5-day price change of 6.52% and 8.88% over the past three months. LAND shares are trading 9.54% year to date (YTD), with the 12-month market performance down to -40.07% lower. It has a 12-month low price of $17.28 and touched a high of $42.10 over the same period. LAND has an average intraday trading volume of 187.70K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 6.98%, 2.39%, and -17.05% respectively.
Institutional ownership of Gladstone Land Corporation (NASDAQ: LAND) shares accounts for 47.50% of the company’s 34.61M shares outstanding. Mutual fund holders own 20.81%, while other institutional holders and individual stakeholders account for 25.90% and 12.98% respectively.
It has a market capitalization of $688.83M and a beta (3y monthly) value of 1.01. The earnings-per-share (ttm) stands at -$0.34. The company has a debt-to-equity ratio at 0.99. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.33% over the week and 2.86% over the month.
Analysts forecast that Gladstone Land Corporation (LAND) will achieve an EPS of -$0.07 for the current quarter, -$0.05 for the next quarter and -$0.29 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.09 while analysts give the company a high EPS estimate of -$0.04. Comparatively, EPS for the current quarter was -$0.05 a year ago. Earnings per share for the fiscal year are expected to decrease by -46.20%, and 18.90% over the next financial year. EPS should grow at an annualized rate of -0.06% over the next five years, compared to -53.20% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 6 brokerage firm advisors rate Gladstone Land Corporation (LAND) as a “Moderate Buy” at a consensus score of 2.20. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 2 of the 6 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the LAND, a number of firms have released research notes about the stock. Oppenheimer stated their Perform rating for the stock in a research note on October 29, 2021, with the firm’s price target at $24. Berenberg was of a view on May 26, 2021 that the stock is Hold, while DA Davidson gave the stock Buy rating on February 10, 2021, issuing a price target of $20. Berenberg on their part issued Buy rating on September 17, 2020.