Gladstone Land Corp reports results for the quarter ended June 30 - Earnings Summary

• Gladstone Land Corp LAND.OQ reported a quarterly adjusted loss of 38 cents​​ per share for the quarter ended June 30, lower than the same quarter last year, when the company reported EPS of -18 cents. The mean expectation of four analysts for the quarter was for a loss of 22 cents per share. Wall Street expected results to range from -27 cents to -17 cents per share.

• Revenue fell 42.3% to $12.30 million from a year ago; analysts expected $15.62 million.

• Gladstone Land Corp's reported EPS for the quarter was a loss of 38 cents​.

• The company reported a quarterly loss of $13.88 million.

• Gladstone Land Corp shares had fallen by 10.1% this quarter and lost 15.8% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 102.2% in the last three months.​

• In the last 30 days, there have been no earnings estimate revisions by analysts covering the company.

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy," 5 "hold" and no "sell" or "strong sell." The average consensus recommendation for the specialized reits peer group is also "buy"

• Wall Street's median 12-month price target for Gladstone Land Corp is $10.75, about 15% above its last closing price of $9.14

This summary was machine generated from LSEG data August 8 at 06:08 a.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)