Proficio Capital Partners LLC Invests $228,000 in Gladstone Land Co. (NASDAQ:LAND)

Proficio Capital Partners LLC acquired a new stake in shares of Gladstone Land Co. (NASDAQ:LAND) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 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 quarter.

Other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC grew its stake in shares of Gladstone Land by 1.5% during the third quarter. Geode Capital Management LLC now owns 900,632 shares of the real estate investment trust’s stock valued at $12,521,000 after buying an additional 13,217 shares during the last quarter. State Street Corp boosted its holdings in Gladstone Land by 2.1% during 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 acquiring an additional 16,079 shares during the period. Bank of New York Mellon Corp grew its position in Gladstone Land by 15.2% during the 4th quarter. Bank of New York Mellon Corp now owns 201,093 shares of the real estate investment trust’s stock worth $2,182,000 after acquiring an additional 26,565 shares during the last quarter. Accordant Advisory Group Inc increased its stake 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 worth $1,946,000 after purchasing an additional 71,507 shares during the period. Finally, Southern Style Financial Inc. bought a new stake in Gladstone Land in the fourth quarter valued at approximately $1,893,000. Institutional investors own 53.60% of the company’s stock.

Wall Street Analyst Weigh In

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

Gladstone Land Stock Down 0.3 %

NASDAQ LAND opened at $10.42 on Friday. Gladstone Land Co. has a 1 year low of $10.27 and a 1 year high of $15.36. The stock has a market capitalization of $377.05 million, a PE ratio of -35.93, a PEG ratio of 3.74 and a beta of 1.11. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.99 and a quick ratio of 0.70. The business’s 50-day moving average is $11.04 and its 200 day moving average is $11.96.

Gladstone Land (NASDAQ:LAND) last issued its quarterly earnings data 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. The firm had revenue of $21.10 million for the quarter, compared to analyst estimates of $20.45 million. Gladstone Land had a return on equity of 1.89% and a net margin of 15.59%. Sell-side analysts forecast that Gladstone Land Co. will post 0.52 earnings per share for the current year.

Gladstone Land Increases Dividend

The business also recently disclosed a dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, January 27th were given a dividend of $0.0467 per share. This is an increase from Gladstone Land’s previous dividend of $0.04. This represents a yield of 5.33%. The ex-dividend date was Friday, January 24th. Gladstone Land’s payout ratio is presently -193.10%.

Insiders Place Their Bets

In other Gladstone Land news, Director Anthony W. Parker sold 6,601 shares of Gladstone Land stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $11.02, for a total transaction of $72,743.02. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 7.20% 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.