Maxim Group Keeps a Buy Rating on Gladstone Land (LAND)

By Jason Carr

Maxim Group analyst Michael Diana reiterated a Buy rating on Gladstone Land (LANDResearch Report) today and set a price target of $15. The company’s shares closed yesterday at $12.43.

Diana noted:

“LAND reported 4Q18 AFFO (our core FFO) of $0.13 per share, versus its 4Q18 dividend of $0.1332 (and its new 1Q19 dividend of $0.13335).”

According to TipRanks.com, Diana is a 5-star analyst with an average return of 6.0% and a 59.2% success rate. Diana covers the Financial sector, focusing on stocks such as First Savings Financial Group, Arlington Asset Investment, and Westamerica Bancorporation.

The word on The Street in general, suggests a Moderate Sell analyst consensus rating for Gladstone Land with a $9.50 average price target.

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Based on Gladstone Land’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $5.68 million. In comparison, last year the company had a GAAP net loss of $189K.

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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.