Gladstone Land Co. (NASDAQ:LAND) Shares Purchased by AQR Capital Management LLC

AQR Capital Management LLC grew its stake in shares of Gladstone Land Co. (NASDAQ:LAND) by 17.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 52,381 shares of the real estate investment trust’s stock after acquiring an additional 7,848 shares during the quarter. AQR Capital Management LLC owned about 0.15% of Gladstone Land worth $717,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Signaturefd LLC boosted its holdings in Gladstone Land by 3,910.3% in the 2nd quarter. Signaturefd LLC now owns 3,128 shares of the real estate investment trust’s stock worth $43,000 after acquiring an additional 3,050 shares during the period. M&G Plc acquired a new position in shares of Gladstone Land during the first quarter valued at $138,000. LRI Investments LLC acquired a new position in shares of Gladstone Land during the first quarter valued at $149,000. Trueblood Wealth Management LLC bought a new position in Gladstone Land during the second quarter valued at about $192,000. Finally, State Board of Administration of Florida Retirement System bought a new position in Gladstone Land during the first quarter valued at about $213,000. Institutional investors and hedge funds own 53.60% of the company’s stock.

Gladstone Land Trading Up 0.4 %

Shares of NASDAQ LAND opened at $13.51 on Monday. Gladstone Land Co. has a one year low of $12.31 and a one year high of $15.36. The business has a 50-day moving average price of $13.80 and a two-hundred day moving average price of $13.61. The company has a current ratio of 4.43, a quick ratio of 4.43 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $484.17 million, a PE ratio of 225.17, a PEG ratio of 4.37 and a beta of 1.07.

Gladstone Land Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, November 29th. Stockholders of record on Wednesday, November 20th will be paid a dividend of $0.0467 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date of this dividend is Wednesday, November 20th. Gladstone Land’s dividend payout ratio (DPR) is presently 933.33%.

Analyst Ratings Changes

Separately, Maxim Group lowered Gladstone Land from a “buy” rating to a “hold” rating in a research report on Monday, August 12th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Gladstone Land currently has a consensus rating of “Moderate Buy” and an average target price of $16.00.

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.