Gladstone Land (NASDAQ:LAND) Share Price Passes Above 200-Day Moving Average – Should You Sell?

Gladstone Land Co. (NASDAQ:LAND)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $13.58 and traded as high as $13.88. Gladstone Land shares last traded at $13.80, with a volume of 183,470 shares.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on LAND. Maxim Group cut Gladstone Land from a “buy” rating to a “hold” rating in a research note on Monday, August 12th. Alliance Global Partners began coverage on shares of Gladstone Land in a research report on Tuesday, June 11th. They set a “buy” rating and a $16.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $16.00.

Gladstone Land Trading Down 0.2 %

The firm has a market capitalization of $494.56 million, a PE ratio of 230.00, a P/E/G ratio of 4.52 and a beta of 1.07. The firm has a 50 day simple moving average of $13.92 and a 200 day simple moving average of $13.58. The company has a current ratio of 4.43, a quick ratio of 4.43 and a debt-to-equity ratio of 0.78.

Gladstone Land Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 20th were given a dividend of $0.0467 per share. The ex-dividend date of this dividend was Friday, September 20th. This represents a $0.56 annualized dividend and a dividend yield of 4.06%. Gladstone Land’s dividend payout ratio (DPR) is presently 933.33%.

Hedge Funds Weigh In On Gladstone Land

A number of hedge funds have recently bought and sold shares of the business. Signaturefd LLC lifted its holdings in shares of Gladstone Land by 3,910.3% during the 2nd quarter. Signaturefd LLC now owns 3,128 shares of the real estate investment trust’s stock valued at $43,000 after buying an additional 3,050 shares during the period. M&G Plc bought a new position in Gladstone Land in the first quarter valued at about $138,000. LRI Investments LLC purchased a new position in Gladstone Land in the first quarter worth about $149,000. Millburn Ridgefield Corp grew its stake in shares of Gladstone Land by 7.6% during the 1st quarter. Millburn Ridgefield Corp now owns 12,559 shares of the real estate investment trust’s stock valued at $168,000 after purchasing an additional 885 shares during the period. Finally, SG Americas Securities LLC increased its position in shares of Gladstone Land by 41.0% during the 3rd quarter. SG Americas Securities LLC now owns 12,280 shares of the real estate investment trust’s stock valued at $171,000 after purchasing an additional 3,572 shares during the last quarter. Hedge funds and other institutional investors own 53.60% 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.