Geode Capital Management LLC Increases Stock Position in Gladstone Land Co. (NASDAQ:LAND)

Geode Capital Management LLC grew its stake in shares of Gladstone Land Co. (NASDAQ:LAND) by 1.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 900,632 shares of the real estate investment trust’s stock after buying an additional 13,217 shares during the period. Geode Capital Management LLC’s holdings in Gladstone Land were worth $12,521,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. BNP Paribas Financial Markets grew its stake in shares of Gladstone Land by 45.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,409 shares of the real estate investment trust’s stock valued at $159,000 after buying an additional 3,556 shares during the period. FMR LLC grew its stake in shares of Gladstone Land by 215.4% during the 3rd quarter. FMR LLC now owns 13,836 shares of the real estate investment trust’s stock valued at $192,000 after buying an additional 9,449 shares during the period. State Street Corp grew its stake in shares of Gladstone Land by 2.1% during the 3rd quarter. State Street Corp now owns 795,775 shares of the real estate investment trust’s stock valued at $11,061,000 after buying an additional 16,079 shares during the period. SG Americas Securities LLC grew its stake in shares of Gladstone Land by 41.0% during the 3rd quarter. SG Americas Securities LLC now owns 12,280 shares of the real estate investment trust’s stock valued at $171,000 after buying an additional 3,572 shares during the period. Finally, Barclays PLC grew its stake in shares of Gladstone Land by 90.2% during the 3rd quarter. Barclays PLC now owns 85,297 shares of the real estate investment trust’s stock valued at $1,186,000 after buying an additional 40,459 shares during the period. 53.60% of the stock is owned by hedge funds and other institutional investors.

Gladstone Land Stock Up 0.5 %

Shares of Gladstone Land stock opened at $10.69 on Tuesday. The company has a fifty day moving average price of $12.02 and a 200 day moving average price of $13.24. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.77. Gladstone Land Co. has a twelve month low of $10.37 and a twelve month high of $15.36. The stock has a market cap of $386.82 million, a price-to-earnings ratio of -41.12, a price-to-earnings-growth ratio of 3.84 and a beta of 1.04.

Gladstone Land Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 20th will be given a dividend of $0.0467 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.56 dividend on an annualized basis and a yield of 5.24%. Gladstone Land’s dividend payout ratio (DPR) is -215.38%.

Wall Street Analyst Weigh In

Separately, Alliance Global Partners cut shares of Gladstone Land from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $16.00 to $14.50 in a research note on Friday, November 8th.

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.