Gladstone Land Corporation $LAND Position Lessened by Amundi

Key Points

• Amundi has reduced its stake in Gladstone Land Corporation by 9.8%, selling 127,963 shares and holding 1,174,879 shares after the transaction.
• Gladstone Land recently declared a $0.0467 monthly dividend, resulting in an annual yield of 6.3%, despite a negative payout ratio of -127.27%.
• Wall Street analysts have provided mixed ratings on LAND, with a consensus of "Hold" and a target price of $14.50.

Amundi lowered its stake in Gladstone Land Corporation (NASDAQ:LAND - Free Report) by 9.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,174,879 shares of the real estate investment trust's stock after selling 127,963 shares during the quarter. Amundi owned about 3.25% of Gladstone Land worth $12,372,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Perkins Coie Trust Co acquired a new stake in shares of Gladstone Land in the first quarter valued at about $32,000. Signaturefd LLC grew its stake in Gladstone Land by 73.5% during the 1st quarter. Signaturefd LLC now owns 4,924 shares of the real estate investment trust's stock valued at $52,000 after purchasing an additional 2,086 shares in the last quarter. Trifecta Capital Advisors LLC acquired a new stake in Gladstone Land during the 1st quarter valued at approximately $69,000. GAMMA Investing LLC grew its stake in Gladstone Land by 1,565.5% during the 1st quarter. GAMMA Investing LLC now owns 8,311 shares of the real estate investment trust's stock valued at $87,000 after purchasing an additional 7,812 shares in the last quarter. Finally, Jump Financial LLC acquired a new stake in Gladstone Land during the 1st quarter valued at approximately $106,000. Institutional investors and hedge funds own 53.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on LAND shares. Zacks Research upgraded Gladstone Land to a "strong sell" rating in a research note on Friday, August 8th. Oppenheimer restated an "outperform" rating on shares of Gladstone Land in a research note on Friday, May 23rd. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $14.50.

Gladstone Land Stock Performance

NASDAQ:LAND traded down $0.05 during trading hours on Friday, reaching $8.86. 385,226 shares of the stock were exchanged, compared to its average volume of 336,868. The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 0.74. The firm has a 50 day simple moving average of $9.46 and a 200-day simple moving average of $9.90. Gladstone Land Corporation has a 52 week low of $8.47 and a 52 week high of $14.88. The stock has a market capitalization of $320.64 million, a P/E ratio of -20.14, a P/E/G ratio of 6.60 and a beta of 1.15.

Gladstone Land Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, July 21st were issued a dividend of $0.0467 per share. This represents a c) dividend on an annualized basis and a yield of 6.3%. The ex-dividend date of this dividend was Monday, July 21st. Gladstone Land's dividend payout ratio (DPR) is currently -127.27%.

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.