Cornercap Investment Counsel Inc. Takes Position in Gladstone Land Co. (NASDAQ:LAND)

Cornercap Investment Counsel Inc. bought a new position in Gladstone Land Co. (NASDAQ:LAND) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 12,921 shares of the real estate investment trust’s stock, valued at approximately $180,000.

Several other large investors also recently added to or reduced their stakes in LAND. Signaturefd LLC grew its stake in Gladstone Land by 3,910.3% in the second quarter. Signaturefd LLC now owns 3,128 shares of the real estate investment trust’s stock valued at $43,000 after purchasing an additional 3,050 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of Gladstone Land during the 3rd quarter worth about $50,000. LRI Investments LLC bought a new position in Gladstone Land in the 1st quarter valued at $152,000. SG Americas Securities LLC grew its stake in shares of Gladstone Land by 41.0% during the third quarter. SG Americas Securities LLC now owns 12,280 shares of the real estate investment trust’s stock valued at $171,000 after purchasing an additional 3,572 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Gladstone Land by 9.2% in the second quarter. The Manufacturers Life Insurance Company now owns 13,864 shares of the real estate investment trust’s stock worth $190,000 after purchasing an additional 1,172 shares during the period. 53.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Maxim Group lowered shares of Gladstone Land from a “buy” rating to a “hold” rating in a report on Monday, August 12th. Alliance Global Partners cut shares of Gladstone Land from a “buy” rating to a “neutral” rating and lowered their price target for the company from $16.00 to $14.50 in a report on Friday, November 8th.

Gladstone Land Trading Down 1.2 %

Shares of LAND stock opened at $11.85 on Tuesday. The stock has a market cap of $428.85 million, a price-to-earnings ratio of -46.12, a PEG ratio of 3.88 and a beta of 1.08. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.77. Gladstone Land Co. has a 1-year low of $11.79 and a 1-year high of $15.36. The stock has a 50-day moving average of $13.55 and a 200-day moving average of $13.66.

Gladstone Land Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 20th will be paid a $0.0467 dividend. The ex-dividend date is Friday, December 20th. This represents a $0.56 annualized dividend and a dividend yield of 4.73%. Gladstone Land’s dividend payout ratio is presently -215.38%.

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.