Gladstone Land Co. (NASDAQ:LAND) Shares Sold by Gilman Hill Asset Management LLC

Gilman Hill Asset Management LLC lessened its holdings in Gladstone Land Co. (NASDAQ:LAND) by 16.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 15,000 shares of the real estate investment trust’s stock after selling 3,000 shares during the period. Gilman Hill Asset Management LLC’s holdings in Gladstone Land were worth $208,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Signaturefd LLC raised its holdings in Gladstone Land by 3,910.3% in the 2nd quarter. Signaturefd LLC now owns 3,128 shares of the real estate investment trust’s stock valued at $43,000 after buying an additional 3,050 shares during the period. M&G Plc acquired a new position in shares of Gladstone Land in the 1st quarter worth approximately $138,000. LRI Investments LLC acquired a new position in shares of Gladstone Land in the 1st quarter worth approximately $152,000. SG Americas Securities LLC boosted its position in shares of Gladstone Land by 41.0% during the 3rd quarter. SG Americas Securities LLC now owns 12,280 shares of the real estate investment trust’s stock worth $171,000 after purchasing an additional 3,572 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in Gladstone Land by 9.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,864 shares of the real estate investment trust’s stock valued at $190,000 after purchasing an additional 1,172 shares during the last quarter. Institutional investors and hedge funds own 53.60% of the company’s stock.

Gladstone Land Trading Up 0.4 %

NASDAQ LAND opened at $13.51 on Monday. Gladstone Land Co. has a one year low of $12.31 and a one year high of $15.36. The firm has a 50 day simple moving average of $13.80 and a 200-day simple moving average of $13.61. The firm has a market cap of $484.17 million, a price-to-earnings ratio of 225.17, a PEG ratio of 4.37 and a beta of 1.07. The company has a debt-to-equity ratio of 0.78, a quick ratio of 4.43 and a current ratio of 4.43.

Gladstone Land Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, November 29th. Shareholders of record on Wednesday, November 20th will be given a $0.0467 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $0.56 annualized dividend and a yield of 4.15%. Gladstone Land’s dividend payout ratio is presently 933.33%.

Analyst Ratings Changes

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

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.