Accordant Advisory Group Inc boosted its stake in Gladstone Land Co. (NASDAQ:LAND - Free Report) by 38.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 248,683 shares of the real estate investment trust's stock after buying an additional 69,328 shares during the quarter. Gladstone Land makes up 2.6% of Accordant Advisory Group Inc's investment portfolio, making the stock its 15th largest holding. Accordant Advisory Group Inc owned 0.69% of Gladstone Land worth $2,616,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also bought and sold shares of LAND. Sumitomo Mitsui Trust Group Inc. raised its position in Gladstone Land by 20.0% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 40,297 shares of the real estate investment trust's stock valued at $437,000 after buying an additional 6,719 shares during the last quarter. Entropy Technologies LP purchased a new stake in Gladstone Land in the 4th quarter valued at $118,000. Rhumbline Advisers raised its position in Gladstone Land by 1.9% in the 4th quarter. Rhumbline Advisers now owns 59,290 shares of the real estate investment trust's stock valued at $643,000 after buying an additional 1,130 shares during the last quarter. Catalyst Capital Advisors LLC raised its position in Gladstone Land by 9.5% in the 4th quarter. Catalyst Capital Advisors LLC now owns 13,685 shares of the real estate investment trust's stock valued at $148,000 after buying an additional 1,192 shares during the last quarter. Finally, WESPAC Advisors LLC increased its position in shares of Gladstone Land by 31.9% during the 4th quarter. WESPAC Advisors LLC now owns 57,297 shares of the real estate investment trust's stock valued at $622,000 after purchasing an additional 13,842 shares during the last quarter. 53.60% of the stock is owned by hedge funds and other institutional investors.
Gladstone Land Stock Performance
Gladstone Land stock traded down $0.10 during midday trading on Friday, reaching $10.12. The stock had a trading volume of 208,686 shares, compared to its average volume of 278,898. The firm's 50-day moving average price is $9.69 and its 200 day moving average price is $10.52. Gladstone Land Co. has a 12 month low of $8.66 and a 12 month high of $15.36. The firm has a market capitalization of $366.19 million, a PE ratio of -34.90, a P/E/G ratio of 3.74 and a beta of 1.12. The company has a quick ratio of 0.70, a current ratio of 0.99 and a debt-to-equity ratio of 0.77.
Gladstone Land (NASDAQ:LAND - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The real estate investment trust reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.03. Gladstone Land had a return on equity of 1.89% and a net margin of 15.59%. The firm had revenue of $16.80 million for the quarter, compared to analysts' expectations of $17.30 million. As a group, research analysts predict that Gladstone Land Co. will post 0.52 earnings per share for the current fiscal year.
Gladstone Land Announces Dividend
The business also recently disclosed a dividend, which was paid on Friday, May 30th. Investors of record on Thursday, May 22nd were given a $0.0467 dividend. This represents a dividend yield of 5.92%. The ex-dividend date of this dividend was Wednesday, May 21st. Gladstone Land's dividend payout ratio (DPR) is -224.00%.
Analyst Ratings Changes
A number of equities research analysts have recently commented on the company. Alliance Global Partners reiterated a "neutral" rating on shares of Gladstone Land in a research note on Tuesday, May 13th. Wall Street Zen upgraded Gladstone Land from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Finally, Oppenheimer restated an "outperform" rating on shares of Gladstone Land in a research note on Friday, May 23rd.
View Our Latest Research Report on Gladstone Land
Gladstone Land Company Profile
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Free Report)
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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