Ballentine Partners LLC Buys New Stake in Gladstone Land Corporation $LAND

Key Points

• Ballentine Partners LLC acquired a new stake in Gladstone Land Corporation, purchasing 39,865 shares for approximately $405,000, representing 0.11% of the company's stock.
• Zacks Research downgraded Gladstone Land to a "strong sell" rating, although the consensus rating among analysts remains a "Hold."
• Gladstone Land announced a monthly dividend of $0.0467, translating to an annualized yield of 6.1%, despite having a negative payout ratio of -127.27%.

Ballentine Partners LLC bought a new position in Gladstone Land Corporation (NASDAQ:LAND - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 39,865 shares of the real estate investment trust's stock, valued at approximately $405,000. Ballentine Partners LLC owned 0.11% of Gladstone Land at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Parallel Advisors LLC grew its position in shares of Gladstone Land by 1,146.9% in the second quarter. Parallel Advisors LLC now owns 3,454 shares of the real estate investment trust's stock valued at $35,000 after purchasing an additional 3,177 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Gladstone Land by 5.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 407,183 shares of the real estate investment trust's stock valued at $4,284,000 after purchasing an additional 22,557 shares during the period. Strs Ohio acquired a new stake in Gladstone Land in the 1st quarter valued at approximately $63,000. Acadian Asset Management LLC bought a new position in Gladstone Land in the 1st quarter worth approximately $273,000. Finally, Jane Street Group LLC lifted its holdings in shares of Gladstone Land by 141.1% during the first quarter. Jane Street Group LLC now owns 108,843 shares of the real estate investment trust's stock worth $1,145,000 after buying an additional 63,702 shares during the last quarter. 53.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised Gladstone Land to a "strong sell" rating in a research report on Friday, August 8th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $14.50.

Gladstone Land Stock Down 0.2%

Shares of NASDAQ LAND opened at $9.12 on Friday. Gladstone Land Corporation has a 52-week low of $8.47 and a 52-week high of $14.05. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.21 and a current ratio of 2.21. The business has a fifty day moving average of $9.20 and a two-hundred day moving average of $9.73. The stock has a market cap of $330.05 million, a PE ratio of -20.73, a PEG ratio of 6.76 and a beta of 1.15.

Gladstone Land Announces Dividend

The company also recently declared a monthly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, July 21st were given a $0.0467 dividend. The ex-dividend date was Monday, July 21st. This represents a c) dividend on an annualized basis and a yield of 6.1%. Gladstone Land's payout ratio is -127.27%.

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.

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