Raymond James & Associates reduced its holdings in shares of Gladstone Land Co. (NASDAQ:LAND – Get Rating) by 6.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,197 shares of the real estate investment trust’s stock after selling 2,957 shares during the quarter. Raymond James & Associates’ holdings in Gladstone Land were worth $829,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently modified their holdings of LAND. HighTower Advisors LLC bought a new position in Gladstone Land in the first quarter valued at about $463,000. Cetera Advisor Networks LLC bought a new position in Gladstone Land in the first quarter valued at about $308,000. MetLife Investment Management LLC lifted its holdings in Gladstone Land by 55.4% in the first quarter. MetLife Investment Management LLC now owns 16,827 shares of the real estate investment trust’s stock valued at $613,000 after acquiring an additional 6,000 shares during the period. Rhumbline Advisers lifted its holdings in Gladstone Land by 5.4% in the first quarter. Rhumbline Advisers now owns 39,334 shares of the real estate investment trust’s stock valued at $1,433,000 after acquiring an additional 2,031 shares during the period. Finally, BlackRock Inc. lifted its holdings in Gladstone Land by 0.4% in the first quarter. BlackRock Inc. now owns 2,271,547 shares of the real estate investment trust’s stock valued at $82,730,000 after acquiring an additional 9,321 shares during the period. 45.31% of the stock is owned by institutional investors.
Gladstone Land Price Performance
Shares of Gladstone Land stock opened at $16.49 on Monday. The stock has a 50 day moving average of $15.97 and a 200 day moving average of $17.74. Gladstone Land Co. has a 12 month low of $14.95 and a 12 month high of $27.45. The firm has a market cap of $588.86 million, a PE ratio of -35.09, a PEG ratio of 3.84 and a beta of 1.02. The company has a current ratio of 4.00, a quick ratio of 4.00 and a debt-to-equity ratio of 0.82.
Gladstone Land Announces Dividend
The business also recently disclosed a monthly dividend, which will be paid on Friday, June 30th. Stockholders of record on Wednesday, June 21st will be paid a $0.046 dividend. This represents a $0.55 annualized dividend and a dividend yield of 3.35%. The ex-dividend date of this dividend is Tuesday, June 20th. Gladstone Land’s payout ratio is -117.02%.
Wall Street Analyst Weigh In
A number of analysts have commented on the company. B. Riley reduced their price target on Gladstone Land from $27.00 to $24.00 and set a “buy” rating for the company in a research report on Thursday, February 23rd. StockNews.com assumed coverage on Gladstone Land in a research report on Thursday, May 18th. They issued a “sell” rating for the company. EF Hutton Acquisition Co. I reduced their price target on Gladstone Land from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, February 23rd. Finally, Oppenheimer upgraded Gladstone Land from a “market perform” rating to an “outperform” rating and reduced their price target for the stock from $25.00 to $22.00 in a research report on Wednesday, February 22nd.
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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