Gladstone Land Co. (NASDAQ:LAND) Stake Lessened by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D decreased its holdings in shares of Gladstone Land Co. (NASDAQ:LAND) by 4.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 203,016 shares of the real estate investment trust’s stock after selling 10,000 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.57% of Gladstone Land worth $2,822,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of LAND. Signaturefd LLC boosted its position in Gladstone Land by 3,910.3% during the 2nd quarter. Signaturefd LLC now owns 3,128 shares of the real estate investment trust’s stock worth $43,000 after acquiring an additional 3,050 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in shares of Gladstone Land in the third quarter worth approximately $50,000. M&G Plc acquired a new stake in shares of Gladstone Land during the first quarter worth approximately $138,000. LRI Investments LLC purchased a new position in Gladstone Land during the first quarter valued at approximately $149,000. Finally, SG Americas Securities LLC increased its stake in Gladstone Land by 41.0% in the 3rd quarter. SG Americas Securities LLC now owns 12,280 shares of the real estate investment trust’s stock valued at $171,000 after buying an additional 3,572 shares during the period. 53.60% of the stock is owned by institutional investors and hedge funds.

Gladstone Land Stock Performance

Shares of LAND opened at $12.20 on Thursday. The firm has a market cap of $441.52 million, a price-to-earnings ratio of -46.88, a price-to-earnings-growth ratio of 4.07 and a beta of 1.08. The company’s fifty day moving average is $13.63 and its 200-day moving average is $13.67. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.77. Gladstone Land Co. has a 12 month low of $12.17 and a 12 month high of $15.36.

Gladstone Land Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 20th will be issued a dividend of $0.0467 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.56 annualized dividend and a yield of 4.59%. Gladstone Land’s dividend payout ratio (DPR) is currently -215.38%.

Analysts Set New Price Targets

Several equities analysts have recently commented on LAND shares. Maxim Group cut shares of Gladstone Land from a “buy” rating to a “hold” rating in a report on Monday, August 12th. Alliance Global Partners downgraded Gladstone Land from a “buy” rating to a “neutral” rating and lowered their target price for the company from $16.00 to $14.50 in a research note on Friday, November 8th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $15.50.

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.