Proficio Capital Partners LLC Invests $228,000 in Gladstone Land Co. (NASDAQ:LAND)

Proficio Capital Partners LLC purchased a new stake in shares of Gladstone Land Co. (NASDAQ:LAND) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 21,016 shares of the real estate investment trust’s stock, valued at approximately $228,000.

Other hedge funds have also bought and sold shares of the company. Southern Style Financial Inc. purchased a new stake in shares of Gladstone Land in the fourth quarter worth $1,893,000. Accordant Advisory Group Inc increased its stake in Gladstone Land by 66.3% during the 4th quarter. Accordant Advisory Group Inc now owns 179,355 shares of the real estate investment trust’s stock valued at $1,946,000 after purchasing an additional 71,507 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Gladstone Land by 62.2% in the third quarter. JPMorgan Chase & Co. now owns 139,298 shares of the real estate investment trust’s stock worth $1,936,000 after buying an additional 53,400 shares during the last quarter. Barclays PLC lifted its stake in shares of Gladstone Land by 90.2% in the third quarter. Barclays PLC now owns 85,297 shares of the real estate investment trust’s stock worth $1,186,000 after buying an additional 40,459 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Gladstone Land by 15.2% during the fourth 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 during the last quarter. Institutional investors own 53.60% of the company’s stock.

Gladstone Land Stock Down 0.3 %

Gladstone Land stock opened at $10.42 on Friday. The stock has a market cap of $377.05 million, a PE ratio of -35.93, a price-to-earnings-growth ratio of 3.74 and a beta of 1.11. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.70 and a current ratio of 0.99. The stock has a fifty day moving average of $11.04 and a 200 day moving average of $11.96. Gladstone Land Co. has a one year low of $10.27 and a one year high of $15.36.

Gladstone Land (NASDAQ:LAND) last posted its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.19. Gladstone Land had a net margin of 15.59% and a return on equity of 1.89%. The company had revenue of $21.10 million for the quarter, compared to the consensus estimate of $20.45 million. As a group, sell-side analysts predict that Gladstone Land Co. will post 0.52 EPS for the current year.

Gladstone Land Increases Dividend

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

Insider Activity at Gladstone Land

In other Gladstone Land news, Director Anthony W. Parker sold 6,601 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $11.02, for a total value of $72,743.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 7.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

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.