Gladstone Land Co. (NASDAQ:LAND) Shares Purchased by State Street Corp

State Street Corp raised its holdings in Gladstone Land Co. (NASDAQ:LAND) by 2.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 795,775 shares of the real estate investment trust’s stock after acquiring an additional 16,079 shares during the quarter. State Street Corp’s holdings in Gladstone Land were worth $11,061,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Janney Montgomery Scott LLC boosted its holdings in Gladstone Land by 3.8% during the third quarter. Janney Montgomery Scott LLC now owns 251,838 shares of the real estate investment trust’s stock worth $3,501,000 after buying an additional 9,143 shares in the last quarter. Marathon Capital Management lifted its position in shares of Gladstone Land by 0.5% during the 2nd quarter. Marathon Capital Management now owns 154,271 shares of the real estate investment trust’s stock valued at $2,112,000 after acquiring an additional 781 shares during the last quarter. Moors & Cabot Inc. boosted its stake in shares of Gladstone Land by 2.6% during the 3rd quarter. Moors & Cabot Inc. now owns 100,150 shares of the real estate investment trust’s stock worth $1,392,000 after acquiring an additional 2,500 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Gladstone Land by 2.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 96,363 shares of the real estate investment trust’s stock worth $1,339,000 after acquiring an additional 2,144 shares during the last quarter. Finally, GSA Capital Partners LLP raised its position in shares of Gladstone Land by 19.0% during the third quarter. GSA Capital Partners LLP now owns 82,479 shares of the real estate investment trust’s stock worth $1,146,000 after purchasing an additional 13,159 shares during the period. Institutional investors own 53.60% of the company’s stock.

Analysts Set New Price Targets

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

Gladstone Land Stock Performance

Gladstone Land stock opened at $10.57 on Thursday. Gladstone Land Co. has a 52 week low of $10.37 and a 52 week high of $15.36. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.77. The company has a 50 day moving average price of $12.24 and a 200 day moving average price of $13.32.

Gladstone Land Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 20th will be given a $0.0467 dividend. The ex-dividend date is Friday, December 20th. This represents a $0.56 annualized dividend and a dividend yield of 5.30%. Gladstone Land’s dividend payout ratio (DPR) is presently -215.38%.

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.