Gladstone Land Co. (NASDAQ:LAND) Sees Significant Drop in Short Interest

Gladstone Land Co. (NASDAQ:LAND) was the target of a large decline in short interest in August. As of August 31st, there was short interest totalling 584,000 shares, a decline of 9.4% from the August 15th total of 644,300 shares. Based on an average trading volume of 163,900 shares, the short-interest ratio is currently 3.6 days.

Gladstone Land Stock Performance

LAND stock traded down $0.13 during midday trading on Wednesday, hitting $14.43. 20,927 shares of the company traded hands, compared to its average volume of 180,360. Gladstone Land has a twelve month low of $12.31 and a twelve month high of $15.36. The stock has a market capitalization of $517.14 million, a price-to-earnings ratio of 242.67, a price-to-earnings-growth ratio of 4.47 and a beta of 1.07. The company has a quick ratio of 4.43, a current ratio of 4.43 and a debt-to-equity ratio of 0.78. The business has a 50 day simple moving average of $14.14 and a 200-day simple moving average of $13.51.

Gladstone Land Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 20th will be issued a $0.0467 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date is Friday, September 20th. Gladstone Land’s dividend payout ratio (DPR) is currently 933.33%.

Institutional Investors Weigh In On Gladstone Land

Several hedge funds have recently modified their holdings of the business. Quadrant Capital Group LLC grew its position in Gladstone Land by 250.2% in the fourth quarter. Quadrant Capital Group LLC now owns 2,290 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 1,636 shares during the period. Signaturefd LLC lifted its holdings in Gladstone Land by 3,910.3% during the 2nd quarter. Signaturefd LLC now owns 3,128 shares of the real estate investment trust’s stock valued at $43,000 after purchasing an additional 3,050 shares during the last quarter. M&G Plc acquired a new position in Gladstone Land in the first quarter valued at about $138,000. LRI Investments LLC bought a new position in shares of Gladstone Land in the first quarter valued at approximately $149,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Gladstone Land in the 4th quarter worth approximately $173,000. 53.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

LAND has been the subject of several research reports. Alliance Global Partners began coverage on Gladstone Land in a report on Tuesday, June 11th. They set a “buy” rating and a $16.00 price target for the company. Maxim Group cut shares of Gladstone Land from a “buy” rating to a “hold” rating in a research note on Monday, August 12th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Gladstone Land has a consensus rating of “Hold” and a consensus target price of $16.00.

Gladstone Land Company Profile

Founded in 1997, Gladstone Land is a publicly traded real estate investment trust that acquires and owns farmland and farm-related properties located in major agricultural markets in the U.S. and leases its properties to unrelated third-party farmers. The Company, which reports the aggregate fair value of its farmland holdings on a quarterly basis, currently owns 169 farms, comprised of approximately 116,000 acres in 15 different states and over 45,000 acre-feet of banked water in California, valued at a total of approximately $1.6 billion.