Invenomic Capital Management LP Acquires Shares of 60,646 Gladstone Land Corporation $LAND

Key Points

• Invenomic Capital Management LP acquired 60,646 shares of Gladstone Land Corporation, valued at approximately $638,000, representing about 0.17% of the company's stock.
• Multiple institutional investors have also increased their positions in Gladstone Land, with GAMMA Investing LLC growing its stake by 1,565.5%.
• Analysts have mixed perspectives on Gladstone Land, with a current average rating of "Hold" and a target price of $14.50.

Invenomic Capital Management LP purchased a new position in shares of Gladstone Land Corporation (NASDAQ:LAND - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 60,646 shares of the real estate investment trust's stock, valued at approximately $638,000. Invenomic Capital Management LP owned approximately 0.17% of Gladstone Land as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in LAND. Millennium Management LLC bought a new stake in shares of Gladstone Land during the 4th quarter worth about $2,051,000. Nuveen LLC bought a new stake in shares of Gladstone Land during the 1st quarter worth about $850,000. Accordant Advisory Group Inc boosted its stake in shares of Gladstone Land by 38.7% during the 1st quarter. Accordant Advisory Group Inc now owns 248,683 shares of the real estate investment trust's stock worth $2,616,000 after acquiring an additional 69,328 shares in the last quarter. Northern Trust Corp lifted its position in shares of Gladstone Land by 7.1% during the 4th quarter. Northern Trust Corp now owns 458,975 shares of the real estate investment trust's stock worth $4,980,000 after purchasing an additional 30,322 shares during the last quarter. Finally, Comprehensive Money Management Services LLC acquired a new position in shares of Gladstone Land during the 4th quarter worth about $329,000. Institutional investors own 53.60% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on LAND shares. Wall Street Zen upgraded Gladstone Land from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Oppenheimer reissued an "outperform" rating on shares of Gladstone Land in a research note on Friday, May 23rd. Finally, Zacks Research raised Gladstone Land to a "strong sell" rating in a research report on Friday, August 8th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $14.50.

Gladstone Land Price Performance

Shares of NASDAQ:LAND traded down $0.01 during trading on Thursday, hitting $8.86. 570,382 shares of the company were exchanged, compared to its average volume of 383,488. The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 0.74. Gladstone Land Corporation has a 1-year low of $8.47 and a 1-year high of $14.88. The company has a market capitalization of $320.64 million, a P/E ratio of -20.14, a price-to-earnings-growth ratio of 6.59 and a beta of 1.15. The business's 50 day moving average is $9.53 and its 200-day moving average is $9.93.

Gladstone Land Announces Dividend

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

Gladstone Land Company 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.