Renaissance Technologies LLC Acquires Shares of 506,382 Gladstone Land Corporation $LAND

Key Points

• Renaissance Technologies acquired 506,382 Gladstone Land shares valued at approximately $5.17 million, giving it a 1.17% stake. Institutional investors and hedge funds collectively own 53.6% of the REIT.
• Gladstone Land shares opened at $8.20, near the lower end of their 12-month range of $7.92 to $13.00. The company missed quarterly EPS expectations, reporting a loss of $0.24 per share versus the estimated loss of $0.22.
• The REIT declared a monthly dividend of $0.0467 per share, representing an annualized yield of about 6.8%. Analyst sentiment remains mixed, with a consensus “Hold” rating and a $10 target price.

Renaissance Technologies LLC acquired a new position in shares of Gladstone Land Corporation (NASDAQ:LAND - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 506,382 shares of the real estate investment trust's stock, valued at approximately $5,165,000. Renaissance Technologies LLC owned about 1.17% of Gladstone Land as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC lifted its holdings in shares of Gladstone Land by 12.1% in the 1st quarter. AQR Capital Management LLC now owns 35,991 shares of the real estate investment trust's stock valued at $379,000 after purchasing an additional 3,889 shares during the last quarter. Goldman Sachs Group Inc. grew 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 worth $4,284,000 after buying an additional 22,557 shares during the last quarter. Jane Street Group LLC increased its position in 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 period. Acadian Asset Management LLC acquired a new position in Gladstone Land during the first quarter worth approximately $273,000. Finally, Strs Ohio purchased a new stake in Gladstone Land in the first quarter valued at approximately $63,000. Institutional investors and hedge funds own 53.60% of the company's stock.

Gladstone Land Stock Up 0.5%

LAND stock opened at $8.20 on Thursday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.47 and a quick ratio of 0.47. The company's 50 day simple moving average is $8.73 and its 200-day simple moving average is $9.90. Gladstone Land Corporation has a 12 month low of $7.92 and a 12 month high of $13.00. The firm has a market capitalization of $353.75 million, a PE ratio of -13.44 and a beta of 1.07.

Gladstone Land (NASDAQ:LAND - Get Free Report) last issued its quarterly earnings data on Monday, May 11th. The real estate investment trust reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.02). The company had revenue of $16.55 million for the quarter, compared to analyst estimates of $14.20 million. Gladstone Land had a negative return on equity of 0.87% and a negative net margin of 6.68%. Equities analysts expect that Gladstone Land Corporation will post 0.45 earnings per share for the current fiscal year.

Gladstone Land Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st will be issued a $0.0467 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date of this dividend is Monday, September 21st. Gladstone Land's payout ratio is -91.80%.

Analyst Ratings Changes

LAND has been the subject of several research analyst reports. Weiss Ratings downgraded Gladstone Land from a "hold (c-)" rating to a "sell (d+)" rating in a report on Wednesday, May 13th. Lucid Cap Mkts raised shares of Gladstone Land from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 14th. Finally, Wall Street Zen cut shares of Gladstone Land from a "sell" rating to a "strong sell" rating in a report on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $10.00.

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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