Gladstone Land (NASDAQ:LAND) Stock Crosses Below Two Hundred Day Moving Average - Here's Why

Key Points

• Gladstone Land's stock has fallen below its 200-day moving average for the first time, with the stock currently trading at $9.00, below the average of $9.85.
• The company announced a monthly dividend of $0.0467 per share, yielding 6.2%, but its dividend payout ratio stands at a negative -127.27%.
• Recent analyst ratings show a mix, with one "Buy," one "Hold," and one "Sell," leading to an average rating of "Hold" and a consensus price target of $14.50.

Gladstone Land Corporation (NASDAQ:LAND - Get Free Report)'s share price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $9.85 and traded as low as $8.92. Gladstone Land shares last traded at $9.00, with a volume of 583,024 shares traded.

Analyst Ratings Changes

Separately, Zacks Research upgraded Gladstone Land to a "strong sell" rating in a research report on Friday, August 8th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $14.50.

Gladstone Land Stock Performance

The firm has a fifty day moving average price of $9.32 and a 200 day moving average price of $9.80. The company has a current ratio of 2.21, a quick ratio of 2.21 and a debt-to-equity ratio of 0.74. The firm has a market cap of $335.07 million, a PE ratio of -21.05, a price-to-earnings-growth ratio of 6.86 and a beta of 1.15.

Gladstone Land Announces Dividend

The company also recently declared a monthly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, July 21st were paid a $0.0467 dividend. The ex-dividend date of this dividend was Monday, July 21st. This represents a c) annualized dividend and a dividend yield of 6.1%. Gladstone Land's dividend payout ratio is -127.27%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. ProShare Advisors LLC purchased a new stake in Gladstone Land in the second quarter valued at $6,096,000. Millennium Management LLC acquired a new position in Gladstone Land in the fourth quarter valued at about $2,051,000. Nuveen LLC purchased a new position in Gladstone Land during the first quarter worth about $850,000. Accordant Advisory Group Inc increased its position in shares of Gladstone Land by 38.7% during the first quarter. Accordant Advisory Group Inc now owns 248,683 shares of the real estate investment trust's stock valued at $2,616,000 after acquiring an additional 69,328 shares during the last quarter. Finally, Jane Street Group LLC raised its stake in shares of Gladstone Land by 141.1% in the 1st quarter. Jane Street Group LLC now owns 108,843 shares of the real estate investment trust's stock valued at $1,145,000 after acquiring an additional 63,702 shares during the period. 53.60% of the stock is currently owned by hedge funds and other institutional investors.

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.