Bard Associates Inc. Reduces Stock Position in Gladstone Land Co. (NASDAQ:LAND)

Bard Associates Inc. cut its holdings in Gladstone Land Co. (NASDAQ:LAND) by 9.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 130,786 shares of the real estate investment trust’s stock after selling 14,417 shares during the period. Bard Associates Inc. owned about 0.36% of Gladstone Land worth $1,419,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of LAND. Southern Style Financial Inc. purchased a new position in shares of Gladstone Land in the 4th quarter valued at about $1,893,000. Accordant Advisory Group Inc raised its holdings in Gladstone Land by 66.3% during the fourth quarter. Accordant Advisory Group Inc now owns 179,355 shares of the real estate investment trust’s stock worth $1,946,000 after purchasing an additional 71,507 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Gladstone Land by 62.2% during the third quarter. JPMorgan Chase & Co. now owns 139,298 shares of the real estate investment trust’s stock worth $1,936,000 after purchasing an additional 53,400 shares in the last quarter. Barclays PLC lifted its position in shares of Gladstone Land by 90.2% during the 3rd quarter. Barclays PLC now owns 85,297 shares of the real estate investment trust’s stock worth $1,186,000 after buying an additional 40,459 shares during the last quarter. Finally, 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. 53.60% of the stock is currently owned by institutional investors and hedge funds.

Gladstone Land Stock Down 1.0 %

LAND stock opened at $11.34 on Tuesday. Gladstone Land Co. has a 12 month low of $10.27 and a 12 month high of $15.36. 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 market cap of $410.34 million, a price-to-earnings ratio of -39.10, a price-to-earnings-growth ratio of 3.74 and a beta of 1.05. The company has a fifty day moving average price of $10.94 and a 200 day moving average price of $12.27.

Gladstone Land (NASDAQ:LAND) last announced its earnings results on Wednesday, February 19th. The real estate investment trust reported $0.09 earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.19. The business had revenue of $21.10 million during the quarter, compared to the consensus estimate of $20.45 million. Gladstone Land had a net margin of 15.59% and a return on equity of 1.89%. Sell-side analysts expect 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. Stockholders of record on Monday, January 27th were issued a $0.0467 dividend. The ex-dividend date of this dividend was Friday, January 24th. This represents a dividend yield of 5.33%. This is a positive change from Gladstone Land’s previous dividend of $0.04. Gladstone Land’s payout ratio is presently -193.10%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on LAND. Alliance Global Partners cut shares of Gladstone Land from a “buy” rating to a “neutral” rating and reduced their price target for the company from $16.00 to $14.50 in a research report on Friday, November 8th. StockNews.com cut Gladstone Land from a “hold” rating to a “sell” rating in a research report on Monday, February 24th.

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.