LRI Investments LLC Buys New Position in Gladstone Land Co. (NASDAQ:LAND)

LRI Investments LLC purchased a new stake in Gladstone Land Co. (NASDAQ:LAND) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 11,365 shares of the real estate investment trust’s stock, valued at approximately $149,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Gladstone Land by 0.6% during the third quarter. Vanguard Group Inc. now owns 3,475,939 shares of the real estate investment trust’s stock worth $49,463,000 after purchasing an additional 21,581 shares during the period. Quadrant Capital Group LLC raised its position in Gladstone Land by 250.2% in the 4th quarter. Quadrant Capital Group LLC now owns 2,290 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 1,636 shares during the last quarter. SG Americas Securities LLC raised its position in Gladstone Land by 26.6% in the 4th quarter. SG Americas Securities LLC now owns 18,873 shares of the real estate investment trust’s stock valued at $273,000 after buying an additional 3,962 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Gladstone Land in the 4th quarter valued at $173,000. Finally, Victory Capital Management Inc. raised its position in Gladstone Land by 1.7% in the 4th quarter. Victory Capital Management Inc. now owns 48,661 shares of the real estate investment trust’s stock valued at $703,000 after buying an additional 824 shares during the last quarter. 53.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

LAND has been the topic of a number of recent research reports. Alliance Global Partners started coverage on Gladstone Land in a report on Tuesday, June 11th. They set a “buy” rating and a $16.00 price objective on the stock. Maxim Group lowered their price target on Gladstone Land from $19.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Finally, Oppenheimer lowered their price target on Gladstone Land from $20.00 to $16.00 and set an “outperform” rating on the stock in a report on Wednesday, May 15th. Two equities 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.com, Gladstone Land presently has an average rating of “Moderate Buy” and a consensus target price of $16.00.

Gladstone Land Trading Up 0.9 %

Shares of LAND stock traded up $0.13 during trading hours on Friday, reaching $14.98. The company’s stock had a trading volume of 134,392 shares, compared to its average volume of 173,779. The stock has a market capitalization of $536.88 million, a P/E ratio of 249.71, a P/E/G ratio of 4.16 and a beta of 1.08. Gladstone Land Co. has a one year low of $12.31 and a one year high of $17.22. The firm’s fifty day simple moving average is $13.78 and its 200 day simple moving average is $13.44. The company has a current ratio of 6.14, a quick ratio of 6.14 and a debt-to-equity ratio of 0.76.

Gladstone Land Announces Dividend

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 given 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 dividend yield of 3.74%. Gladstone Land’s dividend payout ratio is currently 933.49%.

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.