11,365 Shares in Gladstone Land Co. (NASDAQ:LAND) Purchased by LRI Investments LLC

LRI Investments LLC purchased a new position in shares of Gladstone Land Co. (NASDAQ:LAND) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 11,365 shares of the real estate investment trust’s stock, valued at approximately $149,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC lifted its position in Gladstone Land by 250.2% in the fourth quarter. Quadrant Capital Group LLC now owns 2,290 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 1,636 shares during the period. M&G Investment Management Ltd. acquired a new stake in Gladstone Land in the fourth quarter valued at about $149,000. M&G Plc acquired a new stake in Gladstone Land in the first quarter valued at about $138,000. Dynamic Technology Lab Private Ltd acquired a new stake in Gladstone Land in the fourth quarter valued at about $173,000. Finally, Millburn Ridgefield Corp lifted its position in Gladstone Land by 7.6% in the first quarter. Millburn Ridgefield Corp now owns 12,559 shares of the real estate investment trust’s stock valued at $168,000 after purchasing an additional 885 shares during the period. Institutional investors and hedge funds own 53.60% of the company’s stock.

Gladstone Land Price Performance

Shares of LAND stock traded up $0.13 during midday trading on Friday, reaching $14.98. 134,392 shares of the company traded hands, compared to its average volume of 173,779. The firm’s 50 day simple moving average is $13.78 and its two-hundred day simple moving average is $13.44. Gladstone Land Co. has a 1-year low of $12.31 and a 1-year high of $17.22. The company has a debt-to-equity ratio of 0.76, a current ratio of 6.14 and a quick ratio of 6.14. The firm has a market cap of $536.88 million, a PE ratio of 249.71, a price-to-earnings-growth ratio of 4.16 and a beta of 1.08.

Gladstone Land Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 20th will be paid a dividend of $0.0467 per share. The ex-dividend date is Friday, September 20th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.74%. Gladstone Land’s dividend payout ratio (DPR) is 933.49%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Alliance Global Partners assumed coverage on shares of Gladstone Land in a research report on Tuesday, June 11th. They issued a “buy” rating and a $16.00 price objective for the company. Oppenheimer reduced their price objective on shares of Gladstone Land from $20.00 to $16.00 and set an “outperform” rating for the company in a research report on Wednesday, May 15th. Finally, Maxim Group reduced their price target on shares of Gladstone Land from $19.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $16.00.

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.