PFG Investments LLC Decreases Stock Position in Gladstone Land Co. (NASDAQ:LAND)

PFG Investments LLC lowered its position in shares of Gladstone Land Co. (NASDAQ:LAND) by 4.6% during the third quarter, HoldingsChannel reports. The firm owned 138,774 shares of the real estate investment trust’s stock after selling 6,734 shares during the period. PFG Investments LLC’s holdings in Gladstone Land were worth $1,929,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Ballentine Partners LLC acquired a new stake in Gladstone Land during the 3rd quarter valued at $257,000. Hunter Perkins Capital Management LLC boosted its position in Gladstone Land by 3.6% in the 3rd quarter. Hunter Perkins Capital Management LLC now owns 37,450 shares of the real estate investment trust’s stock valued at $521,000 after buying an additional 1,300 shares during the last quarter. Creative Planning grew its stake in shares of Gladstone Land by 10.9% during the third quarter. Creative Planning now owns 22,536 shares of the real estate investment trust’s stock valued at $313,000 after acquiring an additional 2,215 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Gladstone Land by 41.0% during the third quarter. SG Americas Securities LLC now owns 12,280 shares of the real estate investment trust’s stock worth $171,000 after acquiring an additional 3,572 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Gladstone Land by 9.2% in the second quarter. The Manufacturers Life Insurance Company now owns 13,864 shares of the real estate investment trust’s stock worth $190,000 after acquiring an additional 1,172 shares in the last quarter. 53.60% of the stock is owned by institutional investors and hedge funds.

Gladstone Land Price Performance

Shares of LAND stock opened at $13.20 on Friday. The firm has a market cap of $473.09 million, a P/E ratio of -73.33, a P/E/G ratio of 4.28 and a beta of 1.07. The firm has a fifty day moving average of $13.73 and a two-hundred day moving average of $13.63. The company has a debt-to-equity ratio of 0.78, a current ratio of 4.43 and a quick ratio of 4.43. Gladstone Land Co. has a 1-year low of $12.31 and a 1-year high of $15.36.

Gladstone Land Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 20th will be issued a $0.0467 dividend. This represents a $0.56 annualized dividend and a yield of 4.25%. The ex-dividend date is Friday, December 20th. Gladstone Land’s dividend payout ratio is currently -311.09%.

Wall Street Analyst Weigh In

Separately, Maxim Group lowered Gladstone Land from a “buy” rating to a “hold” rating in a research note on Monday, August 12th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Gladstone Land has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

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.