Foresight Wealth Management LLC lowered its holdings in shares of Gladstone Land Co. (NASDAQ:LAND – Get Rating) by 89.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,844 shares of the real estate investment trust’s stock after selling 91,536 shares during the period. Gladstone Land makes up 2.9% of Foresight Wealth Management LLC’s holdings, making the stock its 13th largest position. Foresight Wealth Management LLC’s holdings in Gladstone Land were worth $199,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Gladstone Land by 6.3% in the 1st quarter. Vanguard Group Inc. now owns 3,353,943 shares of the real estate investment trust’s stock worth $122,151,000 after buying an additional 198,148 shares in the last quarter. BlackRock Inc. boosted its position in shares of Gladstone Land by 0.4% in the 1st quarter. BlackRock Inc. now owns 2,271,547 shares of the real estate investment trust’s stock valued at $82,730,000 after purchasing an additional 9,321 shares during the period. State Street Corp raised its holdings in Gladstone Land by 2.9% during the 2nd quarter. State Street Corp now owns 735,625 shares of the real estate investment trust’s stock worth $16,301,000 after buying an additional 20,690 shares during the period. Geode Capital Management LLC lifted its stake in Gladstone Land by 4.3% during the fourth quarter. Geode Capital Management LLC now owns 692,929 shares of the real estate investment trust’s stock valued at $12,715,000 after buying an additional 28,835 shares in the last quarter. Finally, Bowen Hanes & Co. Inc. lifted its stake in Gladstone Land by 2.9% during the fourth quarter. Bowen Hanes & Co. Inc. now owns 648,400 shares of the real estate investment trust’s stock valued at $11,898,000 after buying an additional 18,400 shares in the last quarter. Institutional investors own 45.31% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts have commented on the stock. EF Hutton Acquisition Co. I reduced their price objective 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. Oppenheimer raised shares of Gladstone Land from a “market perform” rating to an “outperform” rating and reduced their price objective for the company from $25.00 to $22.00 in a research note on Wednesday, February 22nd. B. Riley reduced their price objective on shares of Gladstone Land from $27.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, February 23rd. Finally, StockNews.com assumed coverage on shares of Gladstone Land in a research note on Thursday, May 18th. They set a “sell” rating for the company.
Gladstone Land Stock Up 3.3 %
Shares of LAND traded up $0.53 during trading hours on Friday, reaching $16.42. The company’s stock had a trading volume of 102,325 shares, compared to its average volume of 210,988. The firm has a market cap of $586.42 million, a price-to-earnings ratio of -34.57, a P/E/G ratio of 3.69 and a beta of 1.02. Gladstone Land Co. has a 1-year low of $14.95 and a 1-year high of $27.45. The company has a quick ratio of 4.00, a current ratio of 4.00 and a debt-to-equity ratio of 0.82. The company has a 50 day moving average of $15.95 and a two-hundred day moving average of $17.81.
Gladstone Land Announces Dividend
The firm also recently announced a monthly dividend, which will be paid on Friday, June 30th. Stockholders of record on Wednesday, June 21st will be issued a $0.046 dividend. The ex-dividend date of this dividend is Tuesday, June 20th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 3.36%. Gladstone Land’s dividend payout ratio is -117.02%.
About Gladstone Land
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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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