JPMorgan Chase & Co. Acquires 53,400 Shares of Gladstone Land Co. (NASDAQ:LAND)

JPMorgan Chase & Co. raised its holdings in Gladstone Land Co. (NASDAQ:LAND) by 62.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 139,298 shares of the real estate investment trust’s stock after purchasing an additional 53,400 shares during the quarter. JPMorgan Chase & Co.’s holdings in Gladstone Land were worth $1,936,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of LAND. Barclays PLC grew its stake in Gladstone Land by 90.2% in the 3rd quarter. Barclays PLC now owns 85,297 shares of the real estate investment trust’s stock valued at $1,186,000 after purchasing an additional 40,459 shares during the period. Versor Investments LP purchased a new position in shares of Gladstone Land during the 3rd quarter valued at $272,000. Ballentine Partners LLC purchased a new position in shares of Gladstone Land during the 3rd quarter valued at $257,000. State Street Corp lifted its position in shares of Gladstone Land by 2.1% during the 3rd quarter. State Street Corp now owns 795,775 shares of the real estate investment trust’s stock valued at $11,061,000 after buying an additional 16,079 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Gladstone Land by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 900,632 shares of the real estate investment trust’s stock valued at $12,521,000 after buying an additional 13,217 shares during the last quarter. Institutional investors own 53.60% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Gladstone Land Stock Performance

Shares of LAND opened at $10.45 on Thursday. The stock’s 50-day simple moving average is $11.23 and its 200 day simple moving average is $12.94. The stock has a market capitalization of $378.19 million, a price-to-earnings ratio of -40.19, a price-to-earnings-growth ratio of 3.45 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 0.70. Gladstone Land Co. has a 52-week low of $10.27 and a 52-week high of $15.36.

Gladstone Land (NASDAQ:LAND) last issued its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.29). The company had revenue of $22.57 million for the quarter, compared to analysts’ expectations of $21.47 million. Gladstone Land had a return on equity of 2.05% and a net margin of 16.45%. During the same period last year, the company posted $0.16 EPS. Research analysts forecast that Gladstone Land Co. will post 0.52 EPS for the current fiscal year.

Gladstone Land Increases Dividend

The firm also recently announced a dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 27th will be paid a $0.0467 dividend. This is a positive change from Gladstone Land’s previous dividend of $0.04. This represents a yield of 5.36%. The ex-dividend date of this dividend is Friday, January 24th. Gladstone Land’s dividend payout ratio is currently -215.38%.

Gladstone Land 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.