Quest Partners LLC Sells 27,373 Shares of Gladstone Land Co. (NASDAQ:LAND)

Quest Partners LLC trimmed its stake in shares of Gladstone Land Co. (NASDAQ:LAND) by 82.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,651 shares of the real estate investment trust’s stock after selling 27,373 shares during the quarter. Quest Partners LLC’s holdings in Gladstone Land were worth $77,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quadrant Capital Group LLC raised its holdings in Gladstone Land by 250.2% during the 4th 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 during the last quarter. Signaturefd LLC raised its stake in Gladstone Land by 3,910.3% during the second quarter. Signaturefd LLC now owns 3,128 shares of the real estate investment trust’s stock worth $43,000 after buying an additional 3,050 shares during the last quarter. M&G Plc bought a new stake in Gladstone Land during the first quarter valued at $138,000. LRI Investments LLC acquired a new stake in Gladstone Land during the 1st quarter worth about $149,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Gladstone Land in the 4th quarter worth about $173,000. 53.60% of the stock is owned by institutional investors and hedge funds.

Gladstone Land Stock Down 0.2 %

LAND stock opened at $14.56 on Wednesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 4.43 and a current ratio of 4.43. Gladstone Land Co. has a fifty-two week low of $12.31 and a fifty-two week high of $15.36. The stock’s 50 day simple moving average is $14.14 and its 200 day simple moving average is $13.51. The company has a market cap of $521.80 million, a P/E ratio of 242.67, a price-to-earnings-growth ratio of 4.47 and a beta of 1.07.

Gladstone Land Announces Dividend

The company 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 $0.0467 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date is Friday, September 20th. Gladstone Land’s dividend payout ratio is currently 933.33%.

Analyst Ratings Changes

Several equities research analysts recently commented on LAND shares. Alliance Global Partners began coverage on Gladstone Land in a research report on Tuesday, June 11th. They set a “buy” rating and a $16.00 target price on the stock. Maxim Group downgraded shares of Gladstone Land from a “buy” rating to a “hold” rating in a research report on Monday, August 12th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $16.00.

Gladstone Land 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.