Sei Investments Co. Increases Stake in Gladstone Land Co. (NASDAQ:LAND)

Sei Investments Co. boosted its stake in Gladstone Land Co. (NASDAQ:LAND) by 8.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,512 shares of the real estate investment trust’s stock after buying an additional 1,804 shares during the period. Sei Investments Co.’s holdings in Gladstone Land were worth $308,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Moors & Cabot Inc. raised its position in shares of Gladstone Land by 6.3% in the 2nd quarter. Moors & Cabot Inc. now owns 97,650 shares of the real estate investment trust’s stock worth $1,337,000 after acquiring an additional 5,750 shares in the last quarter. Trueblood Wealth Management LLC purchased a new stake in Gladstone Land in the second quarter worth $192,000. Rhumbline Advisers raised its holdings in Gladstone Land by 5.1% in the second quarter. Rhumbline Advisers now owns 62,105 shares of the real estate investment trust’s stock worth $850,000 after purchasing an additional 3,006 shares in the last quarter. Signaturefd LLC lifted its position 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 valued at $43,000 after buying an additional 3,050 shares during the period. Finally, Pullen Investment Management LLC lifted its position in Gladstone Land by 1.7% during the second quarter. Pullen Investment Management LLC now owns 47,106 shares of the real estate investment trust’s stock valued at $645,000 after buying an additional 803 shares during the period. 53.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Maxim Group lowered shares of Gladstone Land from a “buy” rating to a “hold” rating in a research note on Monday, August 12th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $16.00.

Gladstone Land Stock Down 0.7 %

Shares of NASDAQ:LAND opened at $13.46 on Friday. The company has a current ratio of 4.43, a quick ratio of 4.43 and a debt-to-equity ratio of 0.78. The stock has a fifty day simple moving average of $13.82 and a two-hundred day simple moving average of $13.60. Gladstone Land Co. has a 12-month low of $12.31 and a 12-month high of $15.36. The stock has a market capitalization of $482.38 million, a price-to-earnings ratio of 224.33, a PEG ratio of 4.52 and a beta of 1.07.

Gladstone Land Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 22nd will be paid a $0.047 dividend. This is a boost from Gladstone Land’s previous monthly dividend of $0.05. The ex-dividend date is Tuesday, October 22nd. This represents a $0.56 dividend on an annualized basis and a yield of 4.19%. Gladstone Land’s payout ratio is presently 933.33%.

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.