JPMorgan Chase & Co. Has $1.94 Million Stock Position in Gladstone Land Co. (NASDAQ:LAND)

JPMorgan Chase & Co. increased its stake in Gladstone Land Co. (NASDAQ:LAND) by 62.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 139,298 shares of the real estate investment trust’s stock after acquiring an additional 53,400 shares during the quarter. JPMorgan Chase & Co. owned about 0.38% of Gladstone Land worth $1,936,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in LAND. Sei Investments Co. increased its holdings in Gladstone Land by 8.7% in the second quarter. Sei Investments Co. now owns 22,512 shares of the real estate investment trust’s stock worth $308,000 after purchasing an additional 1,804 shares in the last quarter. AQR Capital Management LLC increased its holdings in Gladstone Land by 17.6% in the second quarter. AQR Capital Management LLC now owns 52,381 shares of the real estate investment trust’s stock worth $717,000 after purchasing an additional 7,848 shares in the last quarter. Marathon Capital Management increased its holdings in Gladstone Land by 0.5% in the second quarter. Marathon Capital Management now owns 154,271 shares of the real estate investment trust’s stock worth $2,112,000 after purchasing an additional 781 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Gladstone Land by 9.2% in the second quarter. The Manufacturers Life Insurance Company now owns 13,864 shares of the real estate investment trust’s stock worth $190,000 after purchasing an additional 1,172 shares in the last quarter. Finally, Creative Planning increased its holdings in Gladstone Land by 52.6% in the second quarter. Creative Planning now owns 20,321 shares of the real estate investment trust’s stock worth $278,000 after purchasing an additional 7,003 shares in the last quarter. 53.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Alliance Global Partners downgraded Gladstone Land from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $16.00 to $14.50 in a report on Friday, November 8th.

Gladstone Land Trading Down 5.5 %

Shares of Gladstone Land stock opened at $10.45 on Thursday. The stock has a fifty day simple moving average of $11.23 and a 200 day simple moving average of $12.94. Gladstone Land Co. has a 12-month low of $10.27 and a 12-month high of $15.36. The company has a market capitalization of $378.19 million, a P/E ratio of -40.19, a price-to-earnings-growth ratio of 3.45 and a beta of 1.05. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.77.

Gladstone Land (NASDAQ:LAND) last announced its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.29). Gladstone Land had a return on equity of 2.05% and a net margin of 16.45%. The company had revenue of $22.57 million for the quarter, compared to the consensus estimate of $21.47 million. During the same quarter last year, the company posted $0.16 EPS. On average, sell-side analysts anticipate that Gladstone Land Co. will post 0.52 earnings per share for the current fiscal year.

Gladstone Land Increases Dividend

The business also recently declared a dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 27th will be issued a dividend of $0.0467 per share. The ex-dividend date is Friday, January 24th. This represents a yield of 5.36%. This is an increase from Gladstone Land’s previous dividend of $0.04. Gladstone Land’s dividend payout ratio is -215.38%.

About Gladstone Land

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.