Renaissance Technologies LLC Makes New $5.17 Million Investment in Gladstone Land Corporation $LAND

Renaissance Technologies LLC purchased a new position in shares of Gladstone Land Corporation (NASDAQ:LAND) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 506,382 shares of the real estate investment trust’s stock, valued at approximately $5,165,000.

A number of other institutional investors have also modified their holdings of the company. AQR Capital Management LLC lifted its stake in shares of Gladstone Land by 12.1% during the first quarter. AQR Capital Management LLC now owns 35,991 shares of the real estate investment trust’s stock valued at $379,000 after buying an additional 3,889 shares during the period. Goldman Sachs Group Inc. grew its stake in Gladstone Land by 5.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 407,183 shares of the real estate investment trust’s stock worth $4,284,000 after acquiring an additional 22,557 shares during the period. Jane Street Group LLC grew its stake in Gladstone Land by 141.1% in the 1st quarter. Jane Street Group LLC now owns 108,843 shares of the real estate investment trust’s stock worth $1,145,000 after acquiring an additional 63,702 shares during the period. Acadian Asset Management LLC acquired a new position in Gladstone Land in the 1st quarter valued at $273,000. Finally, Strs Ohio acquired a new position in Gladstone Land in the 1st quarter valued at $63,000. Institutional investors and hedge funds own 53.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Lucid Cap Mkts upgraded Gladstone Land from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 14th. Wall Street Zen lowered Gladstone Land from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings downgraded Gladstone Land from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $10.00.

Gladstone Land Stock Up 0.5%

Shares of Gladstone Land stock opened at $8.20 on Thursday. Gladstone Land Corporation has a twelve month low of $7.92 and a twelve month high of $13.00. The stock has a market cap of $353.75 million, a price-to-earnings ratio of -13.44 and a beta of 1.07. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.70. The company has a fifty day moving average price of $8.73 and a 200 day moving average price of $9.90.

Gladstone Land (NASDAQ:LAND) last released its quarterly earnings data on Monday, May 11th. The real estate investment trust reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.02). The company had revenue of $16.55 million during the quarter, compared to analysts’ expectations of $14.20 million. Gladstone Land had a negative net margin of 6.68% and a negative return on equity of 0.87%. Equities research analysts forecast that Gladstone Land Corporation will post 0.45 earnings per share for the current fiscal year.

Gladstone Land Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Monday, September 21st will be issued a dividend of $0.0467 per share. This represents a c) annualized dividend and a dividend yield of 6.8%. The ex-dividend date is Monday, September 21st. Gladstone Land’s dividend payout ratio (DPR) is presently -91.80%.

Gladstone Land Profile

Gladstone Land Corporation (NASDAQ: LAND) is a publicly traded real estate investment trust (REIT) that specializes in the acquisition and ownership of farmland in the United States. Established in 2013 and headquartered in Wayne, Pennsylvania, the company focuses on purchasing high-quality agricultural properties and leasing them to farmers under long?term, triple?net lease agreements. This model provides tenants with operational flexibility while generating stable, recurring rental income for investors.

The company’s portfolio spans several key agricultural regions across the country, including California, the Midwest, and parts of the Southeast.