Voya Investment Management LLC decreased its holdings in Gladstone Land Co. (NASDAQ:LAND - Free Report) by 13.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 172,843 shares of the real estate investment trust's stock after selling 27,524 shares during the quarter. Voya Investment Management LLC owned approximately 0.48% of Gladstone Land worth $1,875,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Southern Style Financial Inc. acquired a new position in Gladstone Land during the fourth quarter worth $1,893,000. Renaissance Technologies LLC grew its position in shares of Gladstone Land by 87.5% during the 4th quarter. Renaissance Technologies LLC now owns 245,600 shares of the real estate investment trust's stock valued at $2,665,000 after purchasing an additional 114,600 shares in the last quarter. Accordant Advisory Group Inc raised its position in shares of Gladstone Land by 66.3% during the 4th quarter. Accordant Advisory Group Inc now owns 179,355 shares of the real estate investment trust's stock valued at $1,946,000 after buying an additional 71,507 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Gladstone Land by 62.2% during the third quarter. JPMorgan Chase & Co. now owns 139,298 shares of the real estate investment trust's stock valued at $1,936,000 after buying an additional 53,400 shares during the period. Finally, ExodusPoint Capital Management LP purchased a new position in Gladstone Land during the 4th quarter valued at about $537,000. 53.60% of the stock is owned by institutional investors and hedge funds.
Gladstone Land Stock Down 2.7 %
Shares of NASDAQ LAND traded down $0.26 during mid-day trading on Tuesday, reaching $9.38. 363,606 shares of the company were exchanged, compared to its average volume of 264,941. The firm has a 50-day moving average of $10.28 and a 200 day moving average of $11.10. Gladstone Land Co. has a 1 year low of $8.66 and a 1 year high of $15.36. The company has a quick ratio of 0.70, a current ratio of 0.99 and a debt-to-equity ratio of 0.77. The stock has a market cap of $339.42 million, a price-to-earnings ratio of -32.34, a P/E/G ratio of 3.74 and a beta of 1.15.
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 EPS for the quarter, beating the consensus estimate of ($0.10) by $0.19. Gladstone Land had a net margin of 15.59% and a return on equity of 1.89%. The firm had revenue of $21.10 million for the quarter, compared to analyst estimates of $20.45 million. On average, research analysts expect that Gladstone Land Co. will post 0.52 earnings per share for the current year.
Gladstone Land Dividend Announcement
The company also recently disclosed a dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, April 22nd were given a $0.0467 dividend. The ex-dividend date of this dividend was Monday, April 21st. This represents a yield of 5.75%. Gladstone Land's dividend payout ratio (DPR) is -193.10%.
Analyst Ratings Changes
Separately, StockNews.com downgraded Gladstone Land from a "hold" rating to a "sell" rating in a report on Wednesday, March 5th.
View Our Latest Stock Analysis on LAND
Insiders Place Their Bets
In other Gladstone Land news, Director Anthony W. Parker sold 6,601 shares of Gladstone Land stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $11.02, for a total value of $72,743.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.02% of the stock is currently owned by insiders.
Gladstone Land Company Profile
(
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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