Gladstone Land price target lowered to $11.50 from $14.50 at B. Riley

B. Riley lowered the firm’s price target on Gladstone Land (LAND) to $11.50 from $14.50 and keeps a Neutral rating on the shares. Gladstone Land has rebounded strongly year-to-date, up 24.6%, driven by lower interest rates and stabilization in key crop prices, including California treenuts, the analyst tells investors in a research note. Despite this, operational performance remains the key to further upside, and elevated input costs, water regulations, and crop price uncertainty support a cautious stance heading into Q4 earnings, B. Riley says.