Gladstone Land Co. (NASDAQ:LAND) Shares Bought by Accordant Advisory Group Inc

Accordant Advisory Group Inc increased its position in Gladstone Land Co. (NASDAQ:LAND) by 66.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 179,355 shares of the real estate investment trust’s stock after purchasing an additional 71,507 shares during the period. Gladstone Land accounts for about 1.9% of Accordant Advisory Group Inc’s investment portfolio, making the stock its 17th biggest holding. Accordant Advisory Group Inc’s holdings in Gladstone Land were worth $1,946,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. BNP Paribas Financial Markets raised its stake in Gladstone Land by 45.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,409 shares of the real estate investment trust’s stock valued at $159,000 after purchasing an additional 3,556 shares during the period. JPMorgan Chase & Co. boosted its holdings in Gladstone Land by 62.2% during the third quarter. JPMorgan Chase & Co. now owns 139,298 shares of the real estate investment trust’s stock valued at $1,936,000 after acquiring an additional 53,400 shares during the period. Barclays PLC boosted its holdings in Gladstone Land by 90.2% during the third quarter. Barclays PLC now owns 85,297 shares of the real estate investment trust’s stock valued at $1,186,000 after acquiring an additional 40,459 shares during the period. State Street Corp lifted its stake in shares of Gladstone Land by 2.1% in the third quarter. State Street Corp now owns 795,775 shares of the real estate investment trust’s stock valued at $11,061,000 after buying an additional 16,079 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Gladstone Land by 1.5% in the third quarter. Geode Capital Management LLC now owns 900,632 shares of the real estate investment trust’s stock valued at $12,521,000 after buying an additional 13,217 shares during the period. Institutional investors own 53.60% of the company’s stock.

Gladstone Land Trading Down 0.5 %

Shares of NASDAQ:LAND opened at $10.81 on Wednesday. Gladstone Land Co. has a 12 month low of $10.27 and a 12 month high of $15.36. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.77. The company’s fifty day simple moving average is $11.11 and its 200 day simple moving average is $12.84. The firm has a market cap of $391.21 million, a price-to-earnings ratio of -41.58, a PEG ratio of 3.35 and a beta of 1.05.

Gladstone Land (NASDAQ:LAND) last issued its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.29). Gladstone Land had a net margin of 16.45% and a return on equity of 2.05%. The business had revenue of $22.57 million during the quarter, compared to analyst estimates of $21.47 million. During the same quarter in the previous year, the firm posted $0.16 earnings per share. As a group, research analysts forecast that Gladstone Land Co. will post 0.52 EPS for the current fiscal year.

Gladstone Land Increases Dividend

The business also recently announced a dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 27th will be issued a dividend of $0.0467 per share. This is an increase from Gladstone Land’s previous dividend of $0.04. The ex-dividend date of this dividend is Friday, January 24th. This represents a dividend yield of 5.33%. Gladstone Land’s payout ratio is presently -215.38%.

Analyst Upgrades and Downgrades

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

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.