M&G Plc Makes New $138,000 Investment in Gladstone Land Co. (NASDAQ:LAND)

M&G Plc acquired a new position in shares of Gladstone Land Co. (NASDAQ:LAND) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 10,630 shares of the real estate investment trust’s stock, valued at approximately $138,000.

Other large investors have also recently bought and sold shares of the company. Quadrant Capital Group LLC grew its holdings in shares of Gladstone Land by 250.2% during the fourth quarter. Quadrant Capital Group LLC now owns 2,290 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 1,636 shares during the last quarter. M&G Investment Management Ltd. acquired a new position in shares of Gladstone Land during the fourth quarter valued at $149,000. OneAscent Financial Services LLC acquired a new position in Gladstone Land in the fourth quarter valued at about $170,000. Dynamic Technology Lab Private Ltd acquired a new position in Gladstone Land in the fourth quarter valued at about $173,000. Finally, Millburn Ridgefield Corp lifted its stake 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 buying an additional 885 shares during the period. 53.60% of the stock is currently owned by institutional investors.

Gladstone Land Stock Down 1.2 %

Shares of NASDAQ:LAND traded down $0.18 during mid-day trading on Friday, reaching $14.79. 126,769 shares of the stock were exchanged, compared to its average volume of 175,514. The company has a quick ratio of 6.14, a current ratio of 6.14 and a debt-to-equity ratio of 0.76. The company has a market cap of $530.07 million, a P/E ratio of 246.54, a P/E/G ratio of 4.11 and a beta of 1.08. Gladstone Land Co. has a one year low of $12.31 and a one year high of $17.44. The stock’s 50 day simple moving average is $13.62 and its 200-day simple moving average is $13.41.

Gladstone Land Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 20th will be paid a $0.0467 dividend. The ex-dividend date of this dividend is Friday, September 20th. This represents a $0.56 dividend on an annualized basis and a yield of 3.79%. Gladstone Land’s dividend payout ratio is 933.49%.

Analysts Set New Price Targets

Several research firms have weighed in on LAND. Maxim Group cut their target price on Gladstone Land from $19.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Alliance Global Partners began coverage on Gladstone Land in a research note on Tuesday, June 11th. They issued a “buy” rating and a $16.00 target price on the stock. Finally, Oppenheimer dropped their price target on Gladstone Land from $20.00 to $16.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 15th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $16.00.

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.