Gladstone Land (NASDAQ:LAND) Share Price Passes Below Two Hundred Day Moving Average – Here’s What Happened

Gladstone Land Co. (NASDAQ:LAND)’s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $13.06 and traded as low as $10.27. Gladstone Land shares last traded at $10.43, with a volume of 353,002 shares changing hands.

Analyst Ratings Changes

Separately, Alliance Global Partners downgraded Gladstone Land from a “buy” rating to a “neutral” rating and cut their target price for the stock from $16.00 to $14.50 in a research note on Friday, November 8th.

Gladstone Land Stock Up 0.3 %

The company has a market capitalization of $377.41 million, a price-to-earnings ratio of -40.12, a price-to-earnings-growth ratio of 3.84 and a beta of 1.05. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.70 and a quick ratio of 0.70. The firm’s 50-day simple moving average is $11.50 and its two-hundred day simple moving average is $13.06.

Institutional Trading of Gladstone Land

Several institutional investors and hedge funds have recently modified their holdings of the business. Larson Financial Group LLC boosted its stake in shares of Gladstone Land by 224.2% during the third quarter. Larson Financial Group LLC now owns 1,929 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 1,334 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in Gladstone Land in the 3rd quarter valued at about $50,000. BNP Paribas Financial Markets boosted its stake in shares of Gladstone Land by 45.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,409 shares of the real estate investment trust’s stock worth $159,000 after purchasing an additional 3,556 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Gladstone Land by 41.0% during the third quarter. SG Americas Securities LLC now owns 12,280 shares of the real estate investment trust’s stock worth $171,000 after buying an additional 3,572 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. acquired a new position in shares of Gladstone Land in the third quarter valued at approximately $180,000. Hedge funds and other institutional investors own 53.60% of the company’s stock.

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.