Gladstone Land Co. (NASDAQ:LAND) Shares Acquired by Millburn Ridgefield Corp

Millburn Ridgefield Corp lifted its holdings in shares of Gladstone Land Co. (NASDAQ:LAND) by 9.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,685 shares of the real estate investment trust’s stock after acquiring an additional 1,192 shares during the period. Millburn Ridgefield Corp’s holdings in Gladstone Land were worth $148,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of LAND. WESPAC Advisors LLC increased its stake in Gladstone Land by 31.9% in the fourth quarter. WESPAC Advisors LLC now owns 57,297 shares of the real estate investment trust’s stock valued at $622,000 after purchasing an additional 13,842 shares during the last quarter. Catalyst Capital Advisors LLC boosted its position in Gladstone Land by 9.5% in the 4th quarter. Catalyst Capital Advisors LLC now owns 13,685 shares of the real estate investment trust’s stock valued at $148,000 after buying an additional 1,192 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Gladstone Land by 1.9% in the fourth quarter. Rhumbline Advisers now owns 59,290 shares of the real estate investment trust’s stock worth $643,000 after buying an additional 1,130 shares during the last quarter. Entropy Technologies LP bought a new position in shares of Gladstone Land during the fourth quarter worth about $118,000. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in shares of Gladstone Land by 20.0% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 40,297 shares of the real estate investment trust’s stock worth $437,000 after acquiring an additional 6,719 shares in the last quarter. Institutional investors and hedge funds own 53.60% of the company’s stock.

Analyst Ratings Changes

Separately, Alliance Global Partners cut Gladstone Land from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $16.00 to $14.50 in a research report on Friday, November 8th.

Gladstone Land Trading Down 4.9 %

Shares of NASDAQ LAND opened at $11.10 on Monday. The business has a 50 day simple moving average of $10.87 and a 200 day simple moving average of $12.36. Gladstone Land Co. has a 52 week low of $10.27 and a 52 week high of $15.36. The stock has a market cap of $401.65 million, a price-to-earnings ratio of -38.27, a PEG ratio of 3.74 and a beta of 1.05. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.70 and a current ratio of 0.99.

Gladstone Land (NASDAQ:LAND) last issued its quarterly earnings results on Wednesday, February 19th. The real estate investment trust reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.10) by $0.19. Gladstone Land had a return on equity of 1.89% and a net margin of 15.59%. The company had revenue of $21.10 million for the quarter, compared to the consensus estimate of $20.45 million. On average, research analysts predict that Gladstone Land Co. will post 0.52 earnings per share for the current fiscal year.

Gladstone Land Increases Dividend

The company also recently announced a dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 27th were issued a $0.0467 dividend. This is a positive change from Gladstone Land’s previous dividend of $0.04. The ex-dividend date of this dividend was Friday, January 24th. This represents a dividend yield of 5.33%. Gladstone Land’s dividend payout ratio is presently -193.10%.

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.