Envestnet Asset Management Inc. boosted its stake in shares of Gladstone Land Co. (NASDAQ:LAND – Get Rating) by 16.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,758 shares of the real estate investment trust’s stock after buying an additional 2,979 shares during the period. Envestnet Asset Management Inc. owned 0.06% of Gladstone Land worth $381,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Nomura Asset Management Co. Ltd. raised its holdings in Gladstone Land by 11.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 31,000 shares of the real estate investment trust’s stock worth $561,000 after purchasing an additional 3,100 shares in the last quarter. ETF Managers Group LLC boosted its stake in Gladstone Land by 4.5% in the third quarter. ETF Managers Group LLC now owns 18,905 shares of the real estate investment trust’s stock valued at $342,000 after acquiring an additional 820 shares in the last quarter. Asset Management One Co. Ltd. grew its holdings in Gladstone Land by 5.6% in the fourth quarter. Asset Management One Co. Ltd. now owns 50,081 shares of the real estate investment trust’s stock worth $914,000 after purchasing an additional 2,673 shares during the last quarter. Jump Financial LLC lifted its holdings in shares of Gladstone Land by 3.2% during the 3rd quarter. Jump Financial LLC now owns 35,700 shares of the real estate investment trust’s stock valued at $647,000 after purchasing an additional 1,095 shares during the last quarter. Finally, Onyx Bridge Wealth Group LLC acquired a new stake in shares of Gladstone Land in the 4th quarter worth $395,000. Institutional investors own 45.31% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have commented on LAND shares. StockNews.com initiated coverage on Gladstone Land in a research note on Thursday, May 18th. They issued a “sell” rating for the company. Oppenheimer raised Gladstone Land from a “market perform” rating to an “outperform” rating and cut their price target for the stock from $25.00 to $22.00 in a research report on Wednesday, February 22nd. EF Hutton Acquisition Co. I decreased their price objective on Gladstone Land from $25.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, February 23rd. Finally, B. Riley decreased their price target on Gladstone Land from $27.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, February 23rd.
Gladstone Land Stock Up 0.5 %
Gladstone Land stock opened at $15.89 on Friday. Gladstone Land Co. has a 12 month low of $14.95 and a 12 month high of $27.45. The stock has a market capitalization of $567.43 million, a PE ratio of -33.81, a price-to-earnings-growth ratio of 3.68 and a beta of 1.02. The company has a debt-to-equity ratio of 0.82, a current ratio of 4.00 and a quick ratio of 4.00. The business has a 50 day simple moving average of $15.95 and a 200-day simple moving average of $17.81.
Gladstone Land Dividend Announcement
The business also recently declared a monthly dividend, which will be paid on Friday, June 30th. Investors of record on Wednesday, June 21st will be paid a $0.046 dividend. This represents a $0.55 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend is Tuesday, June 20th. Gladstone Land’s dividend payout ratio is presently -117.02%.
Gladstone Land Profile
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Gladstone Land Corp. is an agricultural real estate investment trust, which engages in the business of owning and leasing farmland. It also includes farm-related facilities, such as cooling facilities, packinghouses, processing facilities, and various storage facilities. The company was founded by David Gladstone on June 14, 1997 and is headquartered in McLean, VA.
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