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Strength Seen in Gladstone (LAND): Can Its 8.7% Jump Turn into More Strength?

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Gladstone Land (LAND) shares rallied 8.7% in the last trading session to close at $40.36. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 9.1% gain over the past four weeks.

The increased optimism stems from investors’ growing interest in the farmland asset category as they seek a hedge against inflation, with the escalation in food prices to record highs.

This real estate investment trust specializing in farmland is expected to post quarterly funds from operations (FFO) of $0.18 per share in its upcoming report, which represents a year-over-year change of +5.9%. Revenues are expected to be $20.25 million, up 26.3% from the year-ago quarter.

FFO and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in FFO estimate revisions are strongly correlated with near-term stock price movements.

For Gladstone, the consensus FFO per share estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in FFO estimate revisions. So, make sure to keep an eye on LAND going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Gladstone is part of the Zacks REIT and Equity Trust - Other industry. Vornado (VNO), another stock in the same industry, closed the last trading session 1% lower at $41.45. VNO has returned -9.6% in the past month.

Vornado's consensus FFO per share estimate for the upcoming report has remained unchanged over the past month at $0.77. Compared to the company's year-ago FFO per share, this represents a change of +18.5%. Vornado currently boasts a Zacks Rank of #2 (Buy).


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