Gladstone Land price target lowered to $24 from $27 at B. Riley

B. Riley lowered the firm’s price target on Gladstone Land to $24 from $27 and keeps a Buy rating on the shares following the Q4 miss. The analyst reduced 2023 earnings estimates with Gladstone expected to fund a more modest amount of external growth in 2023 while interest patronage is anticipated to be lower than previously estimated.