Victory Capital Management Inc. lowered its holdings in shares of Gladstone Land Co. (NASDAQ:LAND – Get Rating) by 6.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 103,829 shares of the real estate investment trust’s stock after selling 7,326 shares during the quarter. Victory Capital Management Inc. owned approximately 0.30% of Gladstone Land worth $1,947,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the business. MinichMacGregor Wealth Management LLC acquired a new stake in Gladstone Land in the 4th quarter valued at $29,000. Belpointe Asset Management LLC acquired a new stake in Gladstone Land in the 4th quarter worth about $30,000. Point72 Hong Kong Ltd purchased a new stake in Gladstone Land during the 3rd quarter worth approximately $39,000. Ensign Peak Advisors Inc acquired a new stake in shares of Gladstone Land in the third quarter worth approximately $39,000. Finally, Captrust Financial Advisors acquired a new stake in Gladstone Land during the 2nd quarter worth $57,000. 45.31% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several brokerages have recently commented on LAND. Oppenheimer upgraded shares of Gladstone Land from a “market perform” rating to an “outperform” rating and decreased their price objective for the stock from $25.00 to $22.00 in a report on Wednesday, February 22nd. StockNews.com assumed coverage on Gladstone Land in a research note on Thursday, May 18th. They set a “sell” rating for the company. 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 report on Thursday, February 23rd. Finally, EF Hutton Acquisition Co. I cut their target price on Gladstone Land from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, February 23rd.
Gladstone Land Stock Performance
Shares of LAND stock opened at $15.77 on Wednesday. The stock’s 50-day moving average price is $15.93 and its 200 day moving average price is $17.84. 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 stock has a market capitalization of $563.15 million, a PE ratio of -33.55, a price-to-earnings-growth ratio of 3.59 and a beta of 1.02. Gladstone Land Co. has a 52-week low of $14.95 and a 52-week high of $27.85.
Gladstone Land Announces Dividend
The company also recently disclosed a monthly dividend, which will be paid on Friday, June 30th. Investors of record on Wednesday, June 21st will be given 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 yield of 3.50%. Gladstone Land’s payout ratio is currently -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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