Quest Partners LLC Trims Position in Gladstone Land Co. (NASDAQ:LAND)

Quest Partners LLC decreased its position in shares of Gladstone Land Co. (NASDAQ:LAND) by 36.6% during the third quarter, Holdings Channel reports. The institutional investor owned 3,580 shares of the real estate investment trust’s stock after selling 2,071 shares during the period. Quest Partners LLC’s holdings in Gladstone Land were worth $50,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of LAND. Signaturefd LLC lifted its position in shares of Gladstone Land by 3,910.3% in the second quarter. Signaturefd LLC now owns 3,128 shares of the real estate investment trust’s stock valued at $43,000 after acquiring an additional 3,050 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in Gladstone Land in the 3rd quarter worth approximately $50,000. SG Americas Securities LLC boosted its stake in Gladstone Land by 41.0% in the 3rd quarter. SG Americas Securities LLC now owns 12,280 shares of the real estate investment trust’s stock worth $171,000 after purchasing an additional 3,572 shares during the period. Cornercap Investment Counsel Inc. purchased a new stake in Gladstone Land during the 3rd quarter valued at approximately $180,000. Finally, The Manufacturers Life Insurance Company raised its position in shares of Gladstone Land by 9.2% during the second quarter. The Manufacturers Life Insurance Company now owns 13,864 shares of the real estate investment trust’s stock valued at $190,000 after buying an additional 1,172 shares during the last quarter. Institutional investors own 53.60% of the company’s stock.

Gladstone Land Trading Down 0.5 %

Shares of LAND opened at $12.01 on Friday. The stock has a market capitalization of $434.58 million, a PE ratio of -46.19, a P/E/G ratio of 4.13 and a beta of 1.08. The company’s fifty day moving average is $13.09 and its 200 day moving average is $13.57. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.70 and a current ratio of 0.70. Gladstone Land Co. has a fifty-two week low of $11.65 and a fifty-two week high of $15.36.

Gladstone Land Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 20th will be issued a $0.0467 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.67%. Gladstone Land’s dividend payout ratio (DPR) is presently -215.38%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Alliance Global Partners cut shares of Gladstone Land from a “buy” rating to a “neutral” rating and cut their target price for the company from $16.00 to $14.50 in a research note on Friday, November 8th. Maxim Group cut Gladstone Land from a “buy” rating to a “hold” rating in a report on Monday, August 12th.

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.