Gladstone Land Gets a Buy Rating from Maxim Group

By Carrie Williams

In a report released today, Michael Diana from Maxim Group reiterated a Buy rating on Gladstone Land (NASDAQ: LAND), with a price target of $15. The company’s shares opened today at $12.35.

Diana wrote:

“LAND covered its new quarterly dividend of $0.1329 (up from $0.13275) with core FFO. Our price target of $15 equates to 1.1x estimated appraised NAV..”

According to TipRanks.com, Diana is a 5-star analyst with an average return of 6.9% and a 63.5% success rate. Diana covers the Financial sector, focusing on stocks such as Manhattan Bridge Capital Inc, Arlington Asset Investment, and Westamerica Bancorporation.

Gladstone Land has an analyst consensus of Moderate Buy, with a price target consensus of $15.

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Based on Gladstone Land’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $189K. In comparison, last year the company had a net profit of $152K.

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Gladstone Land Corp. is a real estate investment trust, which owns, invests, and leases farmland. It also owns farm-related properties such as buildings utilized for the storage and assembly of boxes for shipping products, packinghouses, and cooling, processing, and various storage facilities.