Moors & Cabot Inc. Cuts Stock Holdings in Gladstone Land Co. (NASDAQ:LAND)

Moors & Cabot Inc. decreased its holdings in shares of Gladstone Land Co. (NASDAQ:LAND) by 7.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 92,650 shares of the real estate investment trust’s stock after selling 7,500 shares during the period. Moors & Cabot Inc. owned 0.26% of Gladstone Land worth $1,005,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Geode Capital Management LLC boosted its holdings in shares of Gladstone Land by 1.5% in the 3rd 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 in the last quarter. State Street Corp boosted its holdings in shares of Gladstone Land by 2.1% in the 3rd 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 in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Gladstone Land by 15.2% in the 4th quarter. Bank of New York Mellon Corp now owns 201,093 shares of the real estate investment trust’s stock valued at $2,182,000 after buying an additional 26,565 shares in the last quarter. Accordant Advisory Group Inc boosted its holdings in shares of Gladstone Land by 66.3% in the 4th quarter. Accordant Advisory Group Inc now owns 179,355 shares of the real estate investment trust’s stock valued at $1,946,000 after buying an additional 71,507 shares in the last quarter. Finally, Southern Style Financial Inc. bought a new stake in shares of Gladstone Land in the 4th quarter valued at about $1,893,000. Hedge funds and other institutional investors own 53.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Gladstone Land from a “hold” rating to a “sell” rating in a report on Wednesday, March 5th.

Gladstone Land Stock Down 4.1 %

LAND stock opened at $10.57 on Friday. The firm has a 50 day moving average of $11.05 and a 200 day moving average of $12.16. The stock has a market capitalization of $382.48 million, a PE ratio of -36.45, a price-to-earnings-growth ratio of 3.74 and a beta of 1.11. The company has a quick ratio of 0.70, a current ratio of 0.99 and a debt-to-equity ratio of 0.77. Gladstone Land Co. has a 52 week low of $10.27 and a 52 week high of $15.36.

Gladstone Land (NASDAQ:LAND) last released its earnings results on Wednesday, February 19th. The real estate investment trust reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.19. The company had revenue of $21.10 million during the quarter, compared to analysts’ expectations of $20.45 million. Gladstone Land had a net margin of 15.59% and a return on equity of 1.89%. Sell-side analysts forecast that Gladstone Land Co. will post 0.52 earnings per share for the current year.

Gladstone Land Increases Dividend

The business also recently announced a dividend, which was paid on Friday, January 31st. Investors of record on Monday, January 27th were paid a $0.0467 dividend. The ex-dividend date of this dividend was Friday, January 24th. This is a boost from Gladstone Land’s previous dividend of $0.04. This represents a yield of 5.33%. Gladstone Land’s dividend payout ratio (DPR) is -193.10%.

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.