Commonwealth Equity Services LLC Has $299,000 Stock Position in Gladstone Land Co. (NASDAQ:LAND)

Commonwealth Equity Services LLC lessened its holdings in shares of Gladstone Land Co. (NASDAQ:LAND) by 17.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,859 shares of the real estate investment trust’s stock after selling 4,494 shares during the quarter. Commonwealth Equity Services LLC owned approximately 0.06% of Gladstone Land worth $299,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of LAND. Tidal Investments LLC bought a new stake in shares of Gladstone Land during the 1st quarter worth about $652,000. Quadrant Capital Group LLC increased its stake in shares of Gladstone Land by 250.2% during the fourth quarter. Quadrant Capital Group LLC now owns 2,290 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 1,636 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Gladstone Land during the 4th quarter worth approximately $173,000. Price T Rowe Associates Inc. MD boosted its stake in Gladstone Land by 17.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,922 shares of the real estate investment trust’s stock valued at $306,000 after purchasing an additional 3,421 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its holdings in Gladstone Land by 4.7% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 37,600 shares of the real estate investment trust’s stock valued at $543,000 after buying an additional 1,700 shares in the last quarter. Institutional investors own 53.60% of the company’s stock.

Gladstone Land Price Performance

Shares of NASDAQ:LAND opened at $14.01 on Tuesday. The firm has a 50 day moving average of $14.11 and a 200-day moving average of $13.54. Gladstone Land Co. has a 12 month low of $12.31 and a 12 month high of $15.36. The company has a current ratio of 4.43, a quick ratio of 4.43 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $502.09 million, a PE ratio of 233.50, a PEG ratio of 4.47 and a beta of 1.07.

Gladstone Land Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 20th will be given a dividend of $0.0467 per share. The ex-dividend date of this dividend is Friday, September 20th. This represents a $0.56 annualized dividend and a dividend yield of 4.00%. Gladstone Land’s dividend payout ratio is currently 933.33%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on LAND shares. Alliance Global Partners assumed coverage on shares of Gladstone Land in a research note on Tuesday, June 11th. They issued a “buy” rating and a $16.00 price target on the stock. Maxim Group cut shares of Gladstone Land from a “buy” rating to a “hold” rating in a report 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, the stock has an average rating of “Hold” and an average price target of $16.00.

Gladstone Land 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.