Rhumbline Advisers Boosts Stake in Gladstone Land Co. (NASDAQ:LAND)

Rhumbline Advisers lifted its holdings in Gladstone Land Co. (NASDAQ:LAND) by 5.1% in the 2nd quarter, Holdings Channel reports. The firm owned 62,105 shares of the real estate investment trust’s stock after acquiring an additional 3,006 shares during the period. Rhumbline Advisers’ holdings in Gladstone Land were worth $850,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of LAND. Quadrant Capital Group LLC raised 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 during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Gladstone Land in the fourth quarter worth $173,000. Nomura Asset Management Co. Ltd. raised its stake in shares of Gladstone Land by 4.7% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 37,600 shares of the real estate investment trust’s stock worth $543,000 after purchasing an additional 1,700 shares during the last quarter. Prevail Innovative Wealth Advisors LLC bought a new stake in shares of Gladstone Land in the fourth quarter worth $233,000. Finally, Gilman Hill Asset Management LLC grew its holdings in shares of Gladstone Land by 44.8% in the first quarter. Gilman Hill Asset Management LLC now owns 21,000 shares of the real estate investment trust’s stock worth $280,000 after acquiring an additional 6,500 shares during the period. Hedge funds and other institutional investors own 53.60% of the company’s stock.

Gladstone Land Stock Up 0.7 %

LAND stock opened at $14.01 on Tuesday. The business’s 50-day moving average price is $14.11 and its 200-day moving average price is $13.54. The stock has a market cap of $502.09 million, a P/E ratio of 233.50, a PEG ratio of 4.47 and a beta of 1.07. The company has a quick ratio of 4.43, a current 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 $15.36.

Gladstone Land Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 20th will be paid a $0.0467 dividend. The ex-dividend date of this dividend is Friday, September 20th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.00%. Gladstone Land’s dividend payout ratio (DPR) is presently 933.33%.

Analyst Upgrades and Downgrades

LAND has been the subject of several research analyst reports. Alliance Global Partners assumed coverage on Gladstone Land in a report on Tuesday, June 11th. They issued a “buy” rating and a $16.00 price objective for the company. Maxim Group downgraded shares of Gladstone Land from a “buy” rating to a “hold” rating in a research report on Monday, August 12th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target 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.