Real Estate Sector Ideas

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>>> Gladstone Land Corp (NASDAQ:LAND) is a McLean, VA-based specialty REIT, founded in 1997. It owns farmland and related properties in major agricultural U.S. markets and leases or lease-backs its properties to farmers. Gladstone presently owns 168 farms with 112,000 acres across 15 states. Gladstone Land also owns 49,000 acre-feet of banked water in California worth approximately $1.5 billion. About 40% of Gladstone Land's acreage is utilized for organic produce. Its acreage is 99.4% leased.

Gladstone has paid out 135 consecutive monthly cash distributions since its January 2013 IPO and has increased its dividend 34 times over the last 37 quarters.

On May 7, Gladstone Land released its first quarter operating results. FFO of $0.14 missed the estimate of $0.15 and was below the FFO of $0.17 in Q1 2023. Revenue of $20.252 million missed the consensus estimate of $22.307 million and was below revenue of $21.202 million in Q1 2023.

On June 11, Alliance Global Partners initiated coverage on Gladstone Land with a Buy rating and announced a price target of $16. Oppenheimer rates Gladstone Outperform and also has a $16 price target. Gladstone Land was recently trading at $13.60.

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(June 13, 2024)

https://finance.yahoo.com/news/analysts-just-initiated-coverage-four-173951591.html


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