Bank of New York Mellon Corp Purchases Shares of 121,557 Gladstone Land Corporation $LAND

Key Points

• Bank of New York Mellon acquired 121,557 Gladstone Land shares worth approximately $1.04 million, while institutional investors collectively owned 53.6% of the REIT.
• Analyst sentiment remains mixed, with ratings ranging from Strong Buy to Sell; the overall consensus is Hold with a $10.00 average price target.
• Gladstone Land reported a quarterly EPS loss of $0.32, missing estimates, but exceeded revenue expectations. It declared a monthly dividend of $0.0467 per share, representing an annualized yield of about 5.9%.

Bank of New York Mellon Corp purchased a new stake in shares of Gladstone Land Corporation (NASDAQ:LAND - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 121,557 shares of the real estate investment trust's stock, valued at approximately $1,037,000. Bank of New York Mellon Corp owned about 0.28% of Gladstone Land at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Renaissance Technologies LLC bought a new stake in Gladstone Land during the first quarter valued at approximately $5,165,000. Marshall Wace LLP bought a new stake in shares of Gladstone Land during the 4th quarter worth $2,476,000. NewEdge Advisors LLC grew its position in Gladstone Land by 1,521.9% in the third quarter. NewEdge Advisors LLC now owns 266,414 shares of the real estate investment trust's stock worth $2,440,000 after acquiring an additional 249,988 shares in the last quarter. Millennium Management LLC grew its position in Gladstone Land by 570.2% in the third quarter. Millennium Management LLC now owns 283,538 shares of the real estate investment trust's stock worth $2,597,000 after acquiring an additional 241,231 shares in the last quarter. Finally, Global Strategic Management Inc. bought a new position in Gladstone Land in the fourth quarter valued at $1,420,000. Hedge funds and other institutional investors own 53.60% of the company's stock.

Analyst Upgrades and Downgrades

LAND has been the subject of several research analyst reports. Wall Street Zen lowered Gladstone Land from a "sell" rating to a "strong sell" rating in a research note on Saturday, May 16th. Lucid Cap Mkts upgraded Gladstone Land from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 14th. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of Gladstone Land in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Gladstone Land currently has a consensus rating of "Hold" and an average target price of $10.00.

Gladstone Land Stock Performance

NASDAQ:LAND opened at $9.48 on Friday. The stock has a market cap of $408.97 million, a P/E ratio of -17.24 and a beta of 1.09. The firm's fifty day simple moving average is $8.71 and its 200 day simple moving average is $9.59. Gladstone Land Corporation has a twelve month low of $7.92 and a twelve month high of $13.00. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.72.

Gladstone Land (NASDAQ:LAND - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The real estate investment trust reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.06). The company had revenue of $12.69 million during the quarter, compared to the consensus estimate of $12.28 million. Gladstone Land had a negative return on equity of 0.96% and a negative net margin of 7.31%. As a group, research analysts predict that Gladstone Land Corporation will post 0.48 EPS for the current year.

Gladstone Land Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st will be given a dividend of $0.0467 per share. This represents a c) annualized dividend and a yield of 5.9%. The ex-dividend date of this dividend is Monday, September 21st. Gladstone Land's payout ratio is presently -101.82%.

Gladstone Land Company Profile

Gladstone Land Corporation NASDAQ: LAND is a publicly traded real estate investment trust (REIT) that specializes in the acquisition and ownership of farmland in the United States. Established in 2013 and headquartered in Wayne, Pennsylvania, the company focuses on purchasing high-quality agricultural properties and leasing them to farmers under long‐term, triple‐net lease agreements. This model provides tenants with operational flexibility while generating stable, recurring rental income for investors.

The company's portfolio spans several key agricultural regions across the country, including California, the Midwest, and parts of the Southeast.

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