Mutual Advisors LLC Decreases Stock Holdings in Gladstone Land Corporation $LAND

Mutual Advisors LLC trimmed its stake in shares of Gladstone Land Corporation (NASDAQ:LAND) by 17.6% in the 2nd quarter, Holdings Channel reports. The firm owned 14,700 shares of the real estate investment trust’s stock after selling 3,150 shares during the period. Mutual Advisors LLC’s holdings in Gladstone Land were worth $143,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Gladstone Land by 0.3% during the first quarter. Vanguard Group Inc. now owns 3,402,275 shares of the real estate investment trust’s stock valued at $35,792,000 after purchasing an additional 11,111 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Gladstone Land by 5.9% during the first quarter. Goldman Sachs Group Inc. now owns 407,183 shares of the real estate investment trust’s stock valued at $4,284,000 after buying an additional 22,557 shares during the last quarter. Jane Street Group LLC increased its holdings in Gladstone Land by 141.1% during the first quarter. Jane Street Group LLC now owns 108,843 shares of the real estate investment trust’s stock valued at $1,145,000 after buying an additional 63,702 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in Gladstone Land by 8.7% during the first quarter. Allianz Asset Management GmbH now owns 99,874 shares of the real estate investment trust’s stock valued at $1,051,000 after buying an additional 7,998 shares during the last quarter. Finally, Moors & Cabot Inc. increased its holdings in Gladstone Land by 6.5% during the first quarter. Moors & Cabot Inc. now owns 98,700 shares of the real estate investment trust’s stock valued at $1,038,000 after buying an additional 6,050 shares during the last quarter. 53.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on LAND. Zacks Research raised shares of Gladstone Land from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 14th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Gladstone Land in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $14.50.

Gladstone Land Stock Performance

LAND opened at $9.04 on Thursday. The firm has a market cap of $327.16 million, a P/E ratio of -20.55, a PEG ratio of 6.61 and a beta of 1.15. Gladstone Land Corporation has a 1-year low of $8.47 and a 1-year high of $13.85. The company has a 50 day simple moving average of $9.08 and a two-hundred day simple moving average of $9.56. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.21 and a quick ratio of 2.21.

Gladstone Land Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 22nd will be given a $0.0467 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date is Monday, December 22nd. Gladstone Land’s dividend payout ratio is presently -127.27%.

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.