Ignite Planners LLC Decreases Stock Position in Gladstone Land Co. (NASDAQ:LAND)

Ignite Planners LLC cut its stake in shares of Gladstone Land Co. (NASDAQ:LAND) by 25.1% in the first quarter, Holdings Channel.com reports. The institutional investor owned 25,313 shares of the real estate investment trust’s stock after selling 8,478 shares during the quarter. Ignite Planners LLC’s holdings in Gladstone Land were worth $331,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in LAND. Barclays PLC raised its stake in Gladstone Land by 55.7% during the 3rd quarter. Barclays PLC now owns 38,851 shares of the real estate investment trust’s stock valued at $553,000 after buying an additional 13,896 shares during the last quarter. Graham Capital Management L.P. raised its stake in Gladstone Land by 18.5% during the 3rd quarter. Graham Capital Management L.P. now owns 17,674 shares of the real estate investment trust’s stock valued at $252,000 after buying an additional 2,757 shares during the last quarter. Vanguard Group Inc. raised its stake in Gladstone Land by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 3,475,939 shares of the real estate investment trust’s stock valued at $49,463,000 after buying an additional 21,581 shares during the last quarter. OneAscent Financial Services LLC purchased a new stake in Gladstone Land during the 4th quarter valued at $170,000. Finally, SG Americas Securities LLC raised its stake in Gladstone Land by 26.6% during the 4th quarter. SG Americas Securities LLC now owns 18,873 shares of the real estate investment trust’s stock valued at $273,000 after buying an additional 3,962 shares during the last quarter. 53.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on LAND shares. Oppenheimer decreased their target price on shares of Gladstone Land from $20.00 to $16.00 and set an “outperform” rating for the company in a research note on Wednesday, May 15th. Alliance Global Partners initiated coverage on Gladstone Land in a research note on Tuesday, June 11th. They issued a “buy” rating and a $16.00 price objective for the company. Finally, Maxim Group reduced their price objective on Gladstone Land from $19.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Gladstone Land presently has a consensus rating of “Moderate Buy” and an average price target of $16.00.

Gladstone Land Trading Up 0.2 %

Shares of Gladstone Land stock opened at $13.21 on Tuesday. The company has a market capitalization of $473.45 million, a P/E ratio of 220.20, a P/E/G ratio of 3.66 and a beta of 1.03. The company has a debt-to-equity ratio of 0.76, a quick ratio of 6.14 and a current ratio of 6.14. The company has a fifty day moving average of $13.16 and a 200 day moving average of $13.45. Gladstone Land Co. has a fifty-two week low of $12.31 and a fifty-two week high of $17.44.

Gladstone Land Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, June 28th. Investors of record on Wednesday, June 19th will be issued a $0.0466 dividend. This represents a $0.56 annualized dividend and a yield of 4.23%. The ex-dividend date is Tuesday, June 18th. Gladstone Land’s dividend payout ratio is currently 933.49%.

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.