Gladstone Land Co. (NASDAQ:LAND) Short Interest Update

Gladstone Land Co. (NASDAQ:LAND) was the target of a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 584,000 shares, a drop of 9.4% from the August 15th total of 644,300 shares. Based on an average daily volume of 163,900 shares, the short-interest ratio is currently 3.6 days.

Hedge Funds Weigh In On Gladstone Land

Institutional investors have recently modified their holdings of the business. Tidal Investments LLC acquired a new stake in shares of Gladstone Land in the 1st quarter valued at approximately $652,000. GSA Capital Partners LLP grew its stake in shares of Gladstone Land by 216.8% during the first quarter. GSA Capital Partners LLP now owns 70,383 shares of the real estate investment trust’s stock worth $939,000 after buying an additional 48,167 shares during the last quarter. Pullen Investment Management LLC acquired a new position in shares of Gladstone Land during the first quarter worth $617,000. Quest Partners LLC bought a new position in shares of Gladstone Land in the 4th quarter valued at $399,000. Finally, Prevail Innovative Wealth Advisors LLC acquired a new stake in shares of Gladstone Land during the 4th quarter valued at $233,000. Institutional investors and hedge funds own 53.60% of the company’s stock.

Analyst Upgrades and Downgrades

LAND has been the subject of a number of research reports. Maxim Group downgraded Gladstone Land from a “buy” rating to a “hold” rating in a report on Monday, August 12th. Alliance Global Partners started coverage on shares of Gladstone Land in a research report on Tuesday, June 11th. They issued a “buy” rating and a $16.00 target price for the company. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $16.00.

Gladstone Land Stock Performance

Shares of NASDAQ:LAND traded down $0.13 on Wednesday, hitting $14.43. The company had a trading volume of 20,927 shares, compared to its average volume of 180,360. The stock has a 50 day moving average price of $14.14 and a 200 day moving average price of $13.51. The company has a current ratio of 4.43, a quick ratio of 4.43 and a debt-to-equity ratio of 0.78. The stock has a market cap of $517.14 million, a price-to-earnings ratio of 242.67, a P/E/G ratio of 4.47 and a beta of 1.07. Gladstone Land has a 1-year low of $12.31 and a 1-year high of $15.36.

Gladstone Land Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 20th will be given a dividend of $0.0467 per share. The ex-dividend date of this dividend is Friday, September 20th. This represents a $0.56 annualized dividend and a yield of 3.88%. Gladstone Land’s dividend payout ratio is 933.33%.

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.