Proficio Capital Partners LLC Buys Shares of 21,016 Gladstone Land Co. (NASDAQ:LAND)

Proficio Capital Partners LLC bought a new stake in Gladstone Land Co. (NASDAQ:LAND) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 21,016 shares of the real estate investment trust’s stock, valued at approximately $228,000. Proficio Capital Partners LLC owned approximately 0.06% of Gladstone Land at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Rhumbline Advisers lifted its holdings in shares of Gladstone Land by 1.9% during the fourth quarter. Rhumbline Advisers now owns 59,290 shares of the real estate investment trust’s stock worth $643,000 after purchasing an additional 1,130 shares during the period. Catalyst Capital Advisors LLC lifted its holdings in shares of Gladstone Land by 9.5% during the fourth quarter. Catalyst Capital Advisors LLC now owns 13,685 shares of the real estate investment trust’s stock worth $148,000 after purchasing an additional 1,192 shares during the period. Millburn Ridgefield Corp lifted its holdings in shares of Gladstone Land by 9.5% during the fourth quarter. Millburn Ridgefield Corp now owns 13,685 shares of the real estate investment trust’s stock worth $148,000 after purchasing an additional 1,192 shares during the period. Larson Financial Group LLC lifted its holdings 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 worth $27,000 after purchasing an additional 1,334 shares during the period. Finally, Centiva Capital LP lifted its holdings in shares of Gladstone Land by 13.2% during the third quarter. Centiva Capital LP now owns 14,487 shares of the real estate investment trust’s stock worth $201,000 after purchasing an additional 1,691 shares during the period. Institutional investors and hedge funds own 53.60% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Gladstone Land from a “hold” rating to a “sell” rating in a report on Wednesday, March 5th.

Gladstone Land Price Performance

Shares of NASDAQ LAND opened at $11.16 on Wednesday. Gladstone Land Co. has a twelve month low of $10.27 and a twelve month high of $15.36. The firm has a fifty day simple moving average of $11.05 and a 200 day simple moving average of $12.18. The company has a market capitalization of $403.82 million, a PE ratio of -38.48, a P/E/G ratio of 3.74 and a beta of 1.11. The company has a quick ratio of 0.70, a current ratio of 0.99 and a debt-to-equity ratio of 0.77.

Gladstone Land (NASDAQ:LAND) last announced its earnings results on Wednesday, February 19th. The real estate investment trust reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.19. Gladstone Land had a net margin of 15.59% and a return on equity of 1.89%. The business had revenue of $21.10 million during the quarter, compared to the consensus estimate of $20.45 million. On average, sell-side analysts forecast that Gladstone Land Co. will post 0.52 EPS for the current year.

Gladstone Land Increases Dividend

The company also recently announced a dividend, which was paid on Friday, January 31st. Investors of record on Monday, January 27th were paid a dividend of $0.0467 per share. This represents a yield of 5.33%. The ex-dividend date of this dividend was Friday, January 24th. This is an increase from Gladstone Land’s previous dividend of $0.04. Gladstone Land’s dividend payout ratio (DPR) is currently -193.10%.

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.