Bard Associates Inc. Cuts Stock Holdings in Gladstone Land Co. (NASDAQ:LAND)

Bard Associates Inc. lessened its holdings in Gladstone Land Co. (NASDAQ:LAND) by 9.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 130,786 shares of the real estate investment trust’s stock after selling 14,417 shares during the quarter. Bard Associates Inc.’s holdings in Gladstone Land were worth $1,419,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Larson Financial Group LLC lifted its holdings in shares of Gladstone Land by 224.2% in the 3rd quarter. Larson Financial Group LLC now owns 1,929 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 1,334 shares during the period. Hager Investment Management Services LLC acquired a new stake in Gladstone Land in the fourth quarter valued at $27,000. Harbor Capital Advisors Inc. acquired a new stake in Gladstone Land in the third quarter valued at $50,000. Entropy Technologies LP purchased a new stake in shares of Gladstone Land during the 4th quarter worth $118,000. Finally, Catalyst Capital Advisors LLC grew its stake in shares of Gladstone Land by 9.5% during the 4th quarter. Catalyst Capital Advisors LLC now owns 13,685 shares of the real estate investment trust’s stock worth $148,000 after purchasing an additional 1,192 shares during the period. Institutional investors and hedge funds own 53.60% of the company’s stock.

Gladstone Land Price Performance

Shares of NASDAQ LAND opened at $11.34 on Tuesday. The company has a current ratio of 0.99, a quick ratio of 0.70 and a debt-to-equity ratio of 0.77. The company’s 50-day moving average price is $10.94 and its 200 day moving average price is $12.27. 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 $410.34 million, a price-to-earnings ratio of -39.10, a PEG ratio of 3.74 and a beta of 1.05.

Gladstone Land (NASDAQ:LAND) 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 business had revenue of $21.10 million for the quarter, compared to analyst estimates of $20.45 million. As a group, research analysts forecast that Gladstone Land Co. will post 0.52 earnings per share for the current fiscal year.

Gladstone Land Increases Dividend

The business also recently declared a dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, January 27th were given a dividend of $0.0467 per share. This is an increase from Gladstone Land’s previous dividend of $0.04. The ex-dividend date was Friday, January 24th. This represents a yield of 5.33%. Gladstone Land’s dividend payout ratio (DPR) is presently -193.10%.

Wall Street Analysts Forecast Growth

LAND has been the topic of a number of research analyst reports. StockNews.com downgraded shares of Gladstone Land from a “hold” rating to a “sell” rating in a report on Monday, February 24th. Alliance Global Partners cut Gladstone Land from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $16.00 to $14.50 in a report on Friday, November 8th.

About Gladstone Land

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.