Creative Planning Buys 7,003 Shares of Gladstone Land Co. (NASDAQ:LAND)

Creative Planning increased its stake in shares of Gladstone Land Co. (NASDAQ:LAND) by 52.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,321 shares of the real estate investment trust’s stock after acquiring an additional 7,003 shares during the quarter. Creative Planning owned about 0.06% of Gladstone Land worth $278,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Janney Montgomery Scott LLC boosted its holdings in shares of Gladstone Land by 0.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 246,125 shares of the real estate investment trust’s stock valued at $3,283,000 after purchasing an additional 2,042 shares during the last quarter. Marathon Capital Management lifted its position in shares of 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 buying an additional 781 shares in the last quarter. Moors & Cabot Inc. boosted its stake in Gladstone Land by 6.3% during the second quarter. Moors & Cabot Inc. now owns 97,650 shares of the real estate investment trust’s stock valued at $1,337,000 after buying an additional 5,750 shares during the last quarter. GSA Capital Partners LLP grew its holdings in Gladstone Land by 216.8% during the 1st quarter. GSA Capital Partners LLP now owns 70,383 shares of the real estate investment trust’s stock valued at $939,000 after buying an additional 48,167 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in Gladstone Land by 5.1% in the 2nd quarter. Rhumbline Advisers now owns 62,105 shares of the real estate investment trust’s stock worth $850,000 after acquiring an additional 3,006 shares during the last quarter. 53.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Gladstone Land Trading Down 0.3 %

Shares of NASDAQ LAND opened at $13.50 on Friday. Gladstone Land Co. has a 1-year low of $12.31 and a 1-year high of $15.36. The company has a debt-to-equity ratio of 0.78, a current ratio of 4.43 and a quick ratio of 4.43. The business’s 50 day moving average is $13.77 and its two-hundred day moving average is $13.62. The stock has a market capitalization of $483.81 million, a P/E ratio of 225.00, a PEG ratio of 4.37 and a beta of 1.07.

Gladstone Land Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 20th will be given a dividend of $0.0467 per share. This represents a $0.56 annualized dividend and a dividend yield of 4.15%. The ex-dividend date of this dividend is Friday, December 20th. Gladstone Land’s dividend payout ratio is currently 933.33%.

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.