Accordant Advisory Group Inc Boosts Holdings in Gladstone Land Co. (NASDAQ:LAND)

Accordant Advisory Group Inc increased its position in Gladstone Land Co. (NASDAQ:LAND) by 38.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 248,683 shares of the real estate investment trust’s stock after purchasing an additional 69,328 shares during the quarter. Gladstone Land accounts for 2.6% of Accordant Advisory Group Inc’s portfolio, making the stock its 15th largest position. Accordant Advisory Group Inc’s holdings in Gladstone Land were worth $2,616,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its stake in Gladstone Land by 15.2% in the fourth 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 acquiring an additional 26,565 shares during the period. Comprehensive Money Management Services LLC acquired a new position in shares of Gladstone Land during the fourth quarter valued at approximately $329,000. Price T Rowe Associates Inc. MD raised its holdings in Gladstone Land by 8.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 26,336 shares of the real estate investment trust’s stock worth $286,000 after purchasing an additional 2,105 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Gladstone Land in the fourth quarter worth approximately $147,000. Finally, Northern Trust Corp boosted its stake in Gladstone Land by 7.1% during the 4th quarter. Northern Trust Corp now owns 458,975 shares of the real estate investment trust’s stock valued at $4,980,000 after purchasing an additional 30,322 shares in the last quarter. 53.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LAND has been the subject of a number of research reports. Alliance Global Partners restated a “neutral” rating on shares of Gladstone Land in a report on Tuesday, May 13th. Oppenheimer reissued an “outperform” rating on shares of Gladstone Land in a research note on Friday, May 23rd. Finally, Wall Street Zen upgraded Gladstone Land from a “sell” rating to a “hold” rating in a report on Wednesday, May 14th.

Gladstone Land Stock Down 1.5%

LAND stock opened at $10.13 on Thursday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.99 and a quick ratio of 0.70. The company has a 50-day moving average of $9.66 and a two-hundred day moving average of $10.55. The stock has a market capitalization of $366.55 million, a price-to-earnings ratio of -34.93, a price-to-earnings-growth ratio of 3.74 and a beta of 1.12. Gladstone Land Co. has a 52-week low of $8.66 and a 52-week high of $15.36.

Gladstone Land (NASDAQ:LAND) last released its earnings results on Monday, May 12th. The real estate investment trust reported $0.06 EPS for the quarter, beating the consensus estimate of $0.03 by $0.03. Gladstone Land had a net margin of 15.59% and a return on equity of 1.89%. The firm had revenue of $16.80 million during the quarter, compared to analysts’ expectations of $17.30 million. As a group, equities research analysts anticipate that Gladstone Land Co. will post 0.52 EPS for the current year.

Gladstone Land Announces Dividend

The firm also recently declared a dividend, which was paid on Friday, May 30th. Shareholders of record on Thursday, May 22nd were paid a dividend of $0.0467 per share. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a yield of 5.92%. Gladstone Land’s dividend payout ratio is currently -224.00%.

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.