Rhumbline Advisers Increases Stock Position in Gladstone Land Co. (NASDAQ:LAND)

Rhumbline Advisers lifted its holdings in Gladstone Land Co. (NASDAQ:LAND) by 1.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,290 shares of the real estate investment trust’s stock after buying an additional 1,130 shares during the quarter. Rhumbline Advisers owned approximately 0.16% of Gladstone Land worth $643,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Southern Style Financial Inc. purchased a new stake in shares of Gladstone Land during the fourth quarter valued at approximately $1,893,000. Accordant Advisory Group Inc boosted its stake in Gladstone Land by 66.3% during 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. JPMorgan Chase & Co. increased its holdings in shares of 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 worth $1,936,000 after purchasing an additional 53,400 shares in the last quarter. Barclays PLC raised its stake in shares of Gladstone Land by 90.2% in the third quarter. Barclays PLC now owns 85,297 shares of the real estate investment trust’s stock worth $1,186,000 after purchasing an additional 40,459 shares during the last quarter. Finally, Versor Investments LP bought a new position in shares of Gladstone Land during the third quarter valued at $272,000. 53.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Alliance Global Partners downgraded shares of Gladstone Land from a “buy” rating to a “neutral” rating and dropped their price target for the company from $16.00 to $14.50 in a report on Friday, November 8th. StockNews.com cut shares of Gladstone Land from a “hold” rating to a “sell” rating in a report on Wednesday.

Gladstone Land Stock Performance

NASDAQ LAND opened at $11.56 on Friday. The business’s 50 day moving average price is $11.02 and its 200-day moving average price is $12.23. 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 market cap of $418.30 million, a P/E ratio of -39.86, a P/E/G ratio of 3.74 and a beta of 1.11. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.70 and a current ratio of 0.99.

Gladstone Land (NASDAQ:LAND) last announced its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported $0.09 EPS for the quarter, beating the consensus estimate of ($0.10) by $0.19. Gladstone Land had a return on equity of 1.89% and a net margin of 15.59%. The company had revenue of $21.10 million for the quarter, compared to the consensus estimate of $20.45 million. Sell-side analysts predict 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 $0.0467 dividend. This represents a yield of 5.33%. This is an increase from Gladstone Land’s previous dividend of $0.04. The ex-dividend date was Friday, January 24th. Gladstone Land’s dividend payout ratio (DPR) is -193.10%.

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.