AlphaQuest LLC Acquires 2,261 Shares of Gladstone Land Co. (NASDAQ:LAND)

AlphaQuest LLC grew its holdings in shares of Gladstone Land Co. (NASDAQ:LAND) by 63.2% in the fourth quarter, HoldingsChannel reports. The fund owned 5,841 shares of the real estate investment trust’s stock after purchasing an additional 2,261 shares during the quarter. AlphaQuest LLC’s holdings in Gladstone Land were worth $63,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Raymond James Financial Inc. bought a new stake in shares of Gladstone Land during the 4th quarter valued at $202,000. Proficio Capital Partners LLC purchased a new position in shares of Gladstone Land during the 4th quarter valued at $228,000. Bank of New York Mellon Corp lifted its stake in shares of Gladstone Land by 15.2% during the 4th quarter. Bank of New York Mellon Corp now owns 201,093 shares of the real estate investment trust’s stock valued at $2,182,000 after buying an additional 26,565 shares in the last quarter. Millburn Ridgefield Corp lifted its stake in shares of Gladstone Land by 9.5% during the 4th quarter. Millburn Ridgefield Corp now owns 13,685 shares of the real estate investment trust’s stock valued at $148,000 after buying an additional 1,192 shares in the last quarter. Finally, WESPAC Advisors LLC lifted its stake in shares of Gladstone Land by 31.9% during the 4th quarter. WESPAC Advisors LLC now owns 57,297 shares of the real estate investment trust’s stock valued at $622,000 after buying an additional 13,842 shares in the last quarter. Institutional investors own 53.60% of the company’s stock.

Gladstone Land Stock Down 1.0 %

Shares of LAND stock opened at $10.70 on Thursday. The stock has a market cap of $387.18 million, a P/E ratio of -36.90, a PEG ratio of 3.74 and a beta of 1.11. Gladstone Land Co. has a 52 week low of $10.27 and a 52 week high of $15.36. The company has a quick ratio of 0.70, a current ratio of 0.99 and a debt-to-equity ratio of 0.77. The company’s fifty day simple moving average is $11.05 and its two-hundred day simple moving average is $12.07.

Gladstone Land (NASDAQ:LAND) last announced its quarterly earnings results on Wednesday, February 19th. The real estate investment trust reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.10) by $0.19. The business had revenue of $21.10 million for the quarter, compared to analysts’ expectations of $20.45 million. Gladstone Land had a net margin of 15.59% and a return on equity of 1.89%. Analysts predict that Gladstone Land Co. will post 0.52 EPS for the current fiscal year.

Gladstone Land Increases Dividend

The business also recently declared a dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, January 27th were paid a $0.0467 dividend. The ex-dividend date of this dividend was Friday, January 24th. This represents a yield of 5.33%. This is a boost from Gladstone Land’s previous dividend of $0.04. Gladstone Land’s payout ratio is presently -193.10%.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Gladstone Land from a “hold” rating to a “sell” rating in a research note on Wednesday, March 5th.

Insiders Place Their Bets

In other news, Director Anthony W. Parker sold 6,601 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $11.02, for a total transaction of $72,743.02. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 7.20% of the company’s stock.

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.