Intech Investment Management LLC Purchases New Position in Gladstone Land Co. (NASDAQ:LAND)

Intech Investment Management LLC bought a new position in Gladstone Land Co. (NASDAQ:LAND) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 14,755 shares of the real estate investment trust’s stock, valued at approximately $160,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Southern Style Financial Inc. bought a new stake in shares of Gladstone Land in the 4th quarter worth approximately $1,893,000. Accordant Advisory Group Inc lifted its stake in shares of Gladstone Land by 66.3% in the fourth quarter. Accordant Advisory Group Inc now owns 179,355 shares of the real estate investment trust’s stock worth $1,946,000 after buying an additional 71,507 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Gladstone Land by 62.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 139,298 shares of the real estate investment trust’s stock worth $1,936,000 after acquiring an additional 53,400 shares during the last quarter. Barclays PLC lifted its position in Gladstone Land by 90.2% in the 3rd quarter. Barclays PLC now owns 85,297 shares of the real estate investment trust’s stock valued at $1,186,000 after acquiring an additional 40,459 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Gladstone Land by 15.2% in 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 acquiring an additional 26,565 shares in the last quarter. Hedge funds and other institutional investors own 53.60% of the company’s stock.

Insiders Place Their Bets

In other news, Director Anthony W. Parker sold 6,601 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $11.02, for a total value of $72,743.02. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 7.20% of the company’s stock.

Analyst Ratings Changes

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

Gladstone Land Stock Down 0.3 %

Shares of Gladstone Land stock opened at $10.42 on Friday. Gladstone Land Co. has a twelve month low of $10.27 and a twelve month 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 50 day moving average is $11.04 and its 200 day moving average is $11.96. The company has a market cap of $377.05 million, a price-to-earnings ratio of -35.93, a price-to-earnings-growth ratio of 3.74 and a beta of 1.11.

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

Gladstone Land Increases Dividend

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

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.