Renaissance Technologies LLC Raises Stock Position in Gladstone Land Co. (NASDAQ:LAND)

Renaissance Technologies LLC raised its position in shares of Gladstone Land Co. (NASDAQ:LAND - Free Report) by 87.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 245,600 shares of the real estate investment trust's stock after purchasing an additional 114,600 shares during the quarter. Renaissance Technologies LLC owned 0.68% of Gladstone Land worth $2,665,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of LAND. Invesco Ltd. boosted its position in Gladstone Land by 1.9% in the fourth quarter. Invesco Ltd. now owns 59,866 shares of the real estate investment trust's stock valued at $650,000 after buying an additional 1,094 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Gladstone Land by 1,256.4% in the 4th quarter. Russell Investments Group Ltd. now owns 19,234 shares of the real estate investment trust's stock valued at $209,000 after acquiring an additional 17,816 shares during the last quarter. Resona Asset Management Co. Ltd. acquired a new stake in shares of Gladstone Land in the fourth quarter worth $138,000. ExodusPoint Capital Management LP purchased a new position in shares of Gladstone Land during the fourth quarter worth $537,000. Finally, OneAscent Financial Services LLC acquired a new position in Gladstone Land during the fourth quarter valued at $127,000. 53.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com lowered Gladstone Land from a "hold" rating to a "sell" rating in a research note on Wednesday, March 5th.

Insider Transactions at Gladstone Land

In other news, Director Anthony W. Parker sold 6,601 shares of the company's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $11.02, for a total transaction of $72,743.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 7.20% of the company's stock.

Gladstone Land Stock Performance

Shares of LAND traded down $0.03 during trading hours on Wednesday, hitting $9.93. The stock had a trading volume of 267,718 shares, compared to its average volume of 262,827. The firm has a market capitalization of $359.32 million, a price-to-earnings ratio of -34.24, a PEG ratio of 3.74 and a beta of 1.15. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.70 and a current ratio of 0.99. The firm has a 50-day moving average price of $10.37 and a 200 day moving average price of $11.21. Gladstone Land Co. has a fifty-two week low of $8.66 and a fifty-two week high of $15.36.

Gladstone Land (NASDAQ:LAND - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The real estate investment trust reported $0.09 earnings per share for the quarter, topping analysts' consensus estimates of ($0.10) by $0.19. The company had revenue of $21.10 million during the quarter, compared to analysts' expectations of $20.45 million. Gladstone Land had a return on equity of 1.89% and a net margin of 15.59%. As a group, research analysts anticipate that Gladstone Land Co. will post 0.52 EPS for the current year.

Gladstone Land Announces Dividend

The business also recently announced a dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 22nd will be given a $0.0467 dividend. The ex-dividend date is Monday, April 21st. This represents a dividend yield of 5.75%. Gladstone Land's dividend payout ratio (DPR) is -193.10%.

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.