Northern Trust Corp Has $4.98 Million Stake in Gladstone Land Co. (NASDAQ:LAND)

Northern Trust Corp lifted its position in Gladstone Land Co. (NASDAQ:LAND - Free Report) by 7.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 458,975 shares of the real estate investment trust's stock after buying an additional 30,322 shares during the quarter. Northern Trust Corp owned about 1.27% of Gladstone Land worth $4,980,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of LAND. Hager Investment Management Services LLC bought a new position in Gladstone Land during the fourth quarter worth $27,000. KLP Kapitalforvaltning AS bought a new position in Gladstone Land during the fourth quarter worth $62,000. AlphaQuest LLC increased its position in Gladstone Land by 63.2% during the fourth quarter. AlphaQuest LLC now owns 5,841 shares of the real estate investment trust's stock worth $63,000 after acquiring an additional 2,261 shares during the period. Entropy Technologies LP bought a new stake in Gladstone Land in the 4th quarter valued at $118,000. Finally, Fiduciary Group LLC bought a new stake in Gladstone Land in the 4th quarter valued at $123,000. 53.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Gladstone Land

In other Gladstone Land news, Director Anthony W. Parker sold 6,601 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $11.02, for a total value of $72,743.02. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 7.20% of the stock is currently owned by company insiders.

Gladstone Land Stock Performance

Shares of LAND traded up $0.33 during midday trading on Tuesday, reaching $9.92. 363,671 shares of the stock were exchanged, compared to its average volume of 272,972. Gladstone Land Co. has a twelve month low of $8.66 and a twelve month high of $15.36. The company has a quick ratio of 0.70, a current ratio of 0.99 and a debt-to-equity ratio of 0.77. The company has a market cap of $358.96 million, a P/E ratio of -34.21, a PEG ratio of 3.74 and a beta of 1.15. The stock's 50 day simple moving average is $9.77 and its 200 day simple moving average is $10.71.

Gladstone Land (NASDAQ:LAND - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The real estate investment trust reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.03. The company had revenue of $16.80 million for the quarter, compared to analysts' expectations of $17.30 million. Gladstone Land had a return on equity of 1.89% and a net margin of 15.59%. On average, sell-side analysts expect that Gladstone Land Co. will post 0.52 earnings per share for the current year.

Gladstone Land Dividend Announcement

The business also recently announced a dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, May 22nd will be issued a $0.0467 dividend. This represents a yield of 5.92%. The ex-dividend date is Wednesday, May 21st. Gladstone Land's payout ratio is presently -224.00%.

Analysts Set New Price Targets

Several research firms have recently weighed in on LAND. Wall Street Zen raised shares of Gladstone Land from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Oppenheimer reiterated an "outperform" rating on shares of Gladstone Land in a research report on Friday. Finally, Alliance Global Partners reiterated a "neutral" rating on shares of Gladstone Land in a research report on Tuesday, May 13th.

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.