Bank of New York Mellon Corp Grows Stock Position in Gladstone Land Co. (NASDAQ:LAND)

Bank of New York Mellon Corp increased its position in shares of Gladstone Land Co. (NASDAQ:LAND) by 15.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 201,093 shares of the real estate investment trust’s stock after buying an additional 26,565 shares during the quarter. Bank of New York Mellon Corp owned about 0.56% of Gladstone Land worth $2,182,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in LAND. Geode Capital Management LLC increased its holdings in Gladstone Land by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 900,632 shares of the real estate investment trust’s stock valued at $12,521,000 after purchasing an additional 13,217 shares during the last quarter. State Street Corp increased its holdings in Gladstone Land by 2.1% in the 3rd quarter. State Street Corp now owns 795,775 shares of the real estate investment trust’s stock valued at $11,061,000 after purchasing an additional 16,079 shares during the last quarter. Accordant Advisory Group Inc increased its holdings in Gladstone Land by 66.3% in the 4th quarter. Accordant Advisory Group Inc now owns 179,355 shares of the real estate investment trust’s stock valued at $1,946,000 after purchasing an additional 71,507 shares during the last quarter. Southern Style Financial Inc. acquired a new stake in Gladstone Land in the 4th quarter valued at approximately $1,893,000. Finally, JPMorgan Chase & Co. increased its holdings in Gladstone Land by 62.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 139,298 shares of the real estate investment trust’s stock valued at $1,936,000 after purchasing an additional 53,400 shares during the last quarter. Hedge funds and other institutional investors own 53.60% of the company’s stock.

Insider Buying and Selling at Gladstone Land

In other Gladstone Land news, Director Anthony W. Parker sold 6,601 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $11.02, for a total value of $72,743.02. The transaction was disclosed in a document filed with the SEC, which is available at this link. 7.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

Gladstone Land Stock Down 2.1 %

Shares of LAND opened at $10.45 on Friday. The firm has a market cap of $378.13 million, a PE ratio of -36.03, a price-to-earnings-growth ratio of 3.74 and a beta of 1.11. The company’s fifty day moving average is $11.05 and its two-hundred day moving average is $12.04. Gladstone Land Co. has a fifty-two week low of $10.27 and a fifty-two week high of $15.36. 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 posted its earnings results on Wednesday, February 19th. The real estate investment trust reported $0.09 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $20.45 million. Analysts forecast that Gladstone Land Co. will post 0.52 earnings per share for the current year.

Gladstone Land Increases Dividend

The company also recently announced a dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, January 27th were paid a dividend of $0.0467 per share. This represents a yield of 5.33%. This is a positive change from Gladstone Land’s previous dividend of $0.04. The ex-dividend date was Friday, January 24th. Gladstone Land’s payout ratio is presently -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.