Pullen Investment Management LLC Acquires 5,439 Shares of Gladstone Land Co. (NASDAQ:LAND)

Pullen Investment Management LLC grew its holdings in shares of Gladstone Land Co. (NASDAQ:LAND) by 8.1% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 72,862 shares of the real estate investment trust’s stock after acquiring an additional 5,439 shares during the quarter. Pullen Investment Management LLC’s holdings in Gladstone Land were worth $767,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Geode Capital Management LLC boosted its holdings in Gladstone Land by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 905,578 shares of the real estate investment trust’s stock valued at $9,828,000 after acquiring an additional 4,946 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Gladstone Land by 7.1% during the 4th quarter. Northern Trust Corp now owns 458,975 shares of the real estate investment trust’s stock valued at $4,980,000 after purchasing an additional 30,322 shares in the last quarter. Accordant Advisory Group Inc increased its position in shares of Gladstone Land by 38.7% during the first quarter. Accordant Advisory Group Inc now owns 248,683 shares of the real estate investment trust’s stock valued at $2,616,000 after buying an additional 69,328 shares during the period. Renaissance Technologies LLC increased its position in shares of Gladstone Land by 87.5% during the fourth quarter. Renaissance Technologies LLC now owns 245,600 shares of the real estate investment trust’s stock valued at $2,665,000 after buying an additional 114,600 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Gladstone Land by 15.2% in the fourth quarter. Bank of New York Mellon Corp now owns 201,093 shares of the real estate investment trust’s stock worth $2,182,000 after buying an additional 26,565 shares in the last quarter. Institutional investors own 53.60% of the company’s stock.

Gladstone Land Price Performance

Shares of LAND opened at $10.12 on Friday. Gladstone Land Co. has a fifty-two week low of $8.66 and a fifty-two week high of $15.36. The firm’s 50-day simple moving average is $9.69 and its two-hundred day simple moving average is $10.53. The stock has a market cap of $366.19 million, a PE ratio of -34.90, a price-to-earnings-growth ratio of 3.74 and a beta of 1.12. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.70 and a current ratio of 0.99.

Gladstone Land (NASDAQ:LAND) last posted its quarterly earnings results on Monday, May 12th. The real estate investment trust reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.03. Gladstone Land had a return on equity of 1.89% and a net margin of 15.59%. The company had revenue of $16.80 million for the quarter, compared to the consensus estimate of $17.30 million. Analysts anticipate that Gladstone Land Co. will post 0.52 earnings per share for the current fiscal year.

Gladstone Land Dividend Announcement

The business also recently announced a dividend, which was paid on Friday, May 30th. Stockholders of record on Thursday, May 22nd were paid a $0.0467 dividend. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a dividend yield of 5.92%. Gladstone Land’s dividend payout ratio is currently -224.00%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Alliance Global Partners reiterated a “neutral” rating on shares of Gladstone Land in a report on Tuesday, May 13th. Wall Street Zen upgraded Gladstone Land from a “sell” rating to a “hold” rating in a research report on Wednesday, May 14th. Finally, Oppenheimer reiterated an “outperform” rating on shares of Gladstone Land in a report on Friday, May 23rd.

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.