Gladstone Land Co. (NASDAQ:LAND) Stock Position Trimmed by PFG Investments LLC

PFG Investments LLC decreased its position in Gladstone Land Co. (NASDAQ:LAND) by 3.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 145,508 shares of the real estate investment trust’s stock after selling 5,207 shares during the period. PFG Investments LLC owned approximately 0.41% of Gladstone Land worth $1,992,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in LAND. Tidal Investments LLC acquired a new position in shares of Gladstone Land during the first quarter worth approximately $652,000. Quadrant Capital Group LLC grew its stake in shares of Gladstone Land by 250.2% in the fourth quarter. Quadrant Capital Group LLC now owns 2,290 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 1,636 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Gladstone Land during the fourth quarter valued at $173,000. Price T Rowe Associates Inc. MD lifted its holdings in Gladstone Land by 17.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 22,922 shares of the real estate investment trust’s stock worth $306,000 after purchasing an additional 3,421 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in Gladstone Land by 1.7% in the fourth quarter. Victory Capital Management Inc. now owns 48,661 shares of the real estate investment trust’s stock worth $703,000 after purchasing an additional 824 shares during the period. Institutional investors and hedge funds own 53.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on LAND. Maxim Group downgraded shares of Gladstone Land from a “buy” rating to a “hold” rating in a research report on Monday, August 12th. Alliance Global Partners began coverage on shares of Gladstone Land in a research note on Tuesday, June 11th. They set a “buy” rating and a $16.00 price objective on the stock. Finally, Oppenheimer cut their target price on Gladstone Land from $20.00 to $16.00 and set an “outperform” rating for the company in a research report on Wednesday, May 15th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $16.00.

Gladstone Land Stock Performance

NASDAQ:LAND opened at $13.61 on Tuesday. The company has a 50-day moving average of $14.05 and a 200-day moving average of $13.45. The firm has a market cap of $487.78 million, a price-to-earnings ratio of 226.87, a price-to-earnings-growth ratio of 4.44 and a beta of 1.07. The company has a current ratio of 4.43, a quick ratio of 4.43 and a debt-to-equity ratio of 0.78. Gladstone Land Co. has a twelve month low of $12.31 and a twelve month high of $15.65.

Gladstone Land Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 20th will be issued a dividend of $0.0467 per share. This represents a $0.56 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date is Friday, September 20th. Gladstone Land’s payout ratio is 933.49%.

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.