Belpointe Asset Management LLC acquired a new position in shares of Gladstone Land Co. (NASDAQ:LAND – Get Rating) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,649 shares of the real estate investment trust’s stock, valued at approximately $30,000.
Other large investors have also recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. grew its stake in Gladstone Land by 11.1% during 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 buying an additional 3,100 shares during the last quarter. ETF Managers Group LLC lifted its position in shares of Gladstone Land by 4.5% during the third quarter. ETF Managers Group LLC now owns 18,905 shares of the real estate investment trust’s stock worth $342,000 after purchasing an additional 820 shares in the last quarter. Asset Management One Co. Ltd. lifted its position in shares of Gladstone Land by 5.6% during 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 in the last quarter. Jump Financial LLC lifted its position in shares of Gladstone Land by 3.2% during the third quarter. Jump Financial LLC now owns 35,700 shares of the real estate investment trust’s stock worth $647,000 after purchasing an additional 1,095 shares in the last quarter. Finally, Onyx Bridge Wealth Group LLC acquired a new position in shares of Gladstone Land during the fourth quarter worth approximately $395,000. 45.31% of the stock is owned by institutional investors.
Gladstone Land Stock Up 1.5 %
Shares of NASDAQ:LAND opened at $15.39 on Friday. Gladstone Land Co. has a 52 week low of $14.95 and a 52 week high of $27.85. The company has a debt-to-equity ratio of 0.82, a quick ratio of 4.00 and a current ratio of 4.00. The company has a market capitalization of $549.64 million, a PE ratio of -32.74, a PEG ratio of 3.53 and a beta of 1.02. The company has a 50 day moving average price of $15.94 and a two-hundred day moving average price of $17.94.
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 given a dividend of $0.046 per share. This represents a $0.55 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend is Tuesday, June 20th. Gladstone Land’s dividend payout ratio is -117.02%.
Analyst Ratings Changes
LAND has been the topic of a number of research reports. B. Riley reduced their target price on shares of Gladstone Land from $27.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday, February 23rd. Oppenheimer raised shares of Gladstone Land from a “market perform” rating to an “outperform” rating and lowered their target price for the company from $25.00 to $22.00 in a research note on Wednesday, February 22nd. StockNews.com started coverage on shares of Gladstone Land in a research note on Thursday, May 18th. They issued a “sell” rating for the company. Finally, EF Hutton Acquisition Co. I lowered their target price on shares of Gladstone Land from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, February 23rd.
Gladstone Land Company 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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