Marathon Capital Management lowered its stake in shares of Gladstone Land Corporation (NASDAQ:LAND) by 0.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 181,190 shares of the real estate investment trust’s stock after selling 300 shares during the quarter. Gladstone Land Corporation accounts for 1.0% of Marathon Capital Management’s investment portfolio, making the stock its 22nd largest holding. Marathon Capital Management owned 1.53% of Gladstone Land Corporation worth $2,114,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also made changes to their positions in LAND. Bank of America Corp DE lifted its position in shares of Gladstone Land Corporation by 1.2% during the 1st quarter. Bank of America Corp DE now owns 9,618 shares of the real estate investment trust’s stock valued at $107,000 after buying an additional 118 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Gladstone Land Corporation by 10.4% during the 1st quarter. JPMorgan Chase & Co. now owns 9,890 shares of the real estate investment trust’s stock worth $110,000 after purchasing an additional 929 shares in the last quarter. Stelac Advisory Services LLC lifted its holdings in Gladstone Land Corporation by 2.3% during the 1st quarter. Stelac Advisory Services LLC now owns 11,297 shares of the real estate investment trust’s stock worth $120,000 after purchasing an additional 250 shares in the last quarter. Sei Investments Co. lifted its holdings in Gladstone Land Corporation by 10.0% during the 1st quarter. Sei Investments Co. now owns 11,098 shares of the real estate investment trust’s stock worth $123,000 after purchasing an additional 1,007 shares in the last quarter. Finally, Strs Ohio lifted its holdings in Gladstone Land Corporation by 8.9% during the 2nd quarter. Strs Ohio now owns 11,595 shares of the real estate investment trust’s stock worth $135,000 after purchasing an additional 943 shares in the last quarter. Hedge funds and other institutional investors own 24.66% of the company’s stock.
Gladstone Land Corporation (LAND) traded down 0.16% on Friday, hitting $12.74. The stock had a trading volume of 36,780 shares. Gladstone Land Corporation has a 1-year low of $9.51 and a 1-year high of $14.09. The stock’s 50-day moving average is $13.02 and its 200 day moving average is $11.75. The firm has a market capitalization of $153.02 million, a price-to-earnings ratio of 276.96 and a beta of 1.00.
Gladstone Land Corporation (NASDAQ:LAND) last issued its earnings results on Tuesday, August 8th. The real estate investment trust reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.04). The company had revenue of $6.00 million for the quarter. Gladstone Land Corporation had a return on equity of 0.57% and a net margin of 2.58%. On average, equities research analysts predict that Gladstone Land Corporation will post $0.05 earnings per share for the current fiscal year.
The firm also recently declared a monthly dividend, which will be paid on Friday, September 29th. Stockholders of record on Wednesday, September 20th will be given a $0.044 dividend. The ex-dividend date is Tuesday, September 19th. This represents a $0.53 annualized dividend and a dividend yield of 4.14%. Gladstone Land Corporation’s dividend payout ratio is presently 1,060.21%.
Several equities analysts have recently commented on the company. Ladenburg Thalmann Financial Services restated a “buy” rating on shares of Gladstone Land Corporation in a research report on Wednesday, June 28th. Zacks Investment Research cut Gladstone Land Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. Finally, Singular Research started coverage on Gladstone Land Corporation in a report on Thursday, May 18th. They issued a “buy” rating and a $14.25 price objective for the company.
Gladstone Land Corporation Profile
Gladstone Land Corporation is an agricultural real estate investment trust (REIT). The Company is engaged in the business of owning and leasing farmland. The Company also owns various farm-related facilities, such as cooling facilities, buildings utilized for the storage and assembly of boxes for shipping produce (box barns), packinghouses, processing facilities and various storage facilities.
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