PFG Investments LLC Lowers Stake in Gladstone Land Co. (NASDAQ:LAND)

PFG Investments LLC lessened its holdings in Gladstone Land Co. (NASDAQ:LAND) by 70.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 40,481 shares of the real estate investment trust’s stock after selling 98,293 shares during the quarter. PFG Investments LLC owned about 0.11% of Gladstone Land worth $439,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in LAND. Larson Financial Group LLC grew its stake in shares of Gladstone Land by 224.2% in the 3rd quarter. Larson Financial Group LLC now owns 1,929 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 1,334 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in Gladstone Land in the third quarter worth $50,000. BNP Paribas Financial Markets grew its stake in shares of Gladstone Land by 45.3% in the third quarter. BNP Paribas Financial Markets now owns 11,409 shares of the real estate investment trust’s stock worth $159,000 after acquiring an additional 3,556 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Gladstone Land by 41.0% during the third quarter. SG Americas Securities LLC now owns 12,280 shares of the real estate investment trust’s stock valued at $171,000 after acquiring an additional 3,572 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. bought a new position in Gladstone Land in the 3rd quarter worth about $180,000. Institutional investors own 53.60% of the company’s stock.

Analyst Upgrades and Downgrades

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

Gladstone Land Stock Up 0.6 %

LAND stock opened at $10.85 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.70 and a quick ratio of 0.70. Gladstone Land Co. has a 1-year low of $10.27 and a 1-year high of $15.36. The stock has a market capitalization of $392.66 million, a P/E ratio of -41.73, a P/E/G ratio of 3.35 and a beta of 1.05. The business has a fifty day moving average price of $11.07 and a 200-day moving average price of $12.80.

Gladstone Land (NASDAQ:LAND) last posted its earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.29). Gladstone Land had a net margin of 16.45% and a return on equity of 2.05%. The company had revenue of $22.57 million for the quarter, compared to the consensus estimate of $21.47 million. During the same quarter in the prior year, the company posted $0.16 EPS. Equities analysts forecast that Gladstone Land Co. will post 0.52 earnings per share for the current fiscal year.

Gladstone Land Increases Dividend

The business also recently announced a dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 27th will be given a $0.0467 dividend. This represents a yield of 5.33%. The ex-dividend date of this dividend is Friday, January 24th. This is an increase from Gladstone Land’s previous dividend of $0.04. Gladstone Land’s payout ratio is -215.38%.

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.