Drive Wealth Management LLC Decreases Stake in Gladstone Land Co. (NASDAQ:LAND)

Drive Wealth Management LLC reduced its holdings in Gladstone Land Co. (NASDAQ:LANDFree Report) by 36.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,056 shares of the real estate investment trust’s stock after selling 10,429 shares during the period. Drive Wealth Management LLC’s holdings in Gladstone Land were worth $261,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. increased its position in Gladstone Land by 0.6% during the third quarter. Vanguard Group Inc. now owns 3,475,939 shares of the real estate investment trust’s stock worth $49,463,000 after purchasing an additional 21,581 shares during the last quarter. BlackRock Inc. increased its position in Gladstone Land by 9.8% during the second quarter. BlackRock Inc. now owns 2,569,756 shares of the real estate investment trust’s stock worth $41,810,000 after purchasing an additional 230,021 shares during the last quarter. Geode Capital Management LLC increased its position in Gladstone Land by 5.8% during the second quarter. Geode Capital Management LLC now owns 759,237 shares of the real estate investment trust’s stock worth $12,353,000 after purchasing an additional 41,546 shares during the last quarter. State Street Corp increased its position in Gladstone Land by 4.8% during the second quarter. State Street Corp now owns 749,154 shares of the real estate investment trust’s stock worth $12,189,000 after purchasing an additional 34,059 shares during the last quarter. Finally, Amundi increased its position in Gladstone Land by 29.8% during the fourth quarter. Amundi now owns 681,071 shares of the real estate investment trust’s stock worth $12,603,000 after purchasing an additional 156,259 shares during the last quarter. 53.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, B. Riley restated a “neutral” rating on shares of Gladstone Land in a research report on Tuesday, December 12th.

View Our Latest Stock Report on LAND

Gladstone Land Price Performance

Shares of LAND opened at $13.08 on Wednesday. Gladstone Land Co. has a 1-year low of $12.73 and a 1-year high of $17.48. The firm has a 50-day simple moving average of $13.33 and a two-hundred day simple moving average of $13.91. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.80.

Gladstone Land Announces Dividend

The business also recently declared a monthly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were given a dividend of $0.0465 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date of this dividend was Wednesday, March 20th. Gladstone Land’s dividend payout ratio is presently -207.41%.

Gladstone Land Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Gladstone Land (NASDAQ:LAND)

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