Millburn Ridgefield Corp Buys 1,192 Shares of Gladstone Land Co. (NASDAQ:LAND)

Millburn Ridgefield Corp boosted its position in Gladstone Land Co. (NASDAQ:LAND) by 9.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,685 shares of the real estate investment trust’s stock after purchasing an additional 1,192 shares during the quarter. 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 hedge funds have also bought and sold shares of the business. Larson Financial Group LLC raised its stake in Gladstone Land by 224.2% during the 3rd quarter. Larson Financial Group LLC now owns 1,929 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 1,334 shares during the period. Hager Investment Management Services LLC bought a new stake in Gladstone Land in the fourth quarter worth about $27,000. Harbor Capital Advisors Inc. bought a new position in Gladstone Land during the third quarter valued at $50,000. Entropy Technologies LP purchased a new stake in Gladstone Land in the 4th quarter worth about $118,000. Finally, Catalyst Capital Advisors LLC raised its position in shares of Gladstone Land by 9.5% in the fourth quarter. Catalyst Capital Advisors LLC now owns 13,685 shares of the real estate investment trust’s stock valued at $148,000 after purchasing an additional 1,192 shares during the period. 53.60% of the stock is owned by institutional investors.

Gladstone Land Trading Down 4.9 %

Shares of Gladstone Land stock opened at $11.10 on Monday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.99 and a quick ratio of 0.70. The company’s fifty day simple moving average is $10.87 and its 200-day simple moving average is $12.36. The stock has a market capitalization of $401.65 million, a PE ratio of -38.27, a P/E/G ratio of 3.74 and a beta of 1.05. Gladstone Land Co. has a 1-year low of $10.27 and a 1-year high of $15.36.

Gladstone Land (NASDAQ:LAND) last released its quarterly earnings results on Wednesday, February 19th. The real estate investment trust reported $0.09 earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.19. The company had revenue of $21.10 million for the quarter, compared to analyst estimates of $20.45 million. Gladstone Land had a return on equity of 1.89% and a net margin of 15.59%. As a group, equities analysts anticipate that Gladstone Land Co. will post 0.52 earnings per share for the current year.

Gladstone Land Increases Dividend

The company 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. The ex-dividend date was Friday, January 24th. This represents a yield of 5.33%. This is a boost from Gladstone Land’s previous dividend of $0.04. Gladstone Land’s payout ratio is currently -193.10%.

Analyst Upgrades and Downgrades

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

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.