Gladstone Land (NASDAQ:LAND) Share Price Passes Below 200-Day Moving Average – Should You Sell?

Gladstone Land Co. (NASDAQ:LAND) shares passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $13.46 and traded as low as $11.25. Gladstone Land shares last traded at $11.25, with a volume of 308,407 shares.

Analysts Set New Price Targets

Separately, Alliance Global Partners cut shares of Gladstone Land from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $16.00 to $14.50 in a research note on Friday, November 8th.

Gladstone Land Stock Down 1.5 %

The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.77. The business has a fifty day simple moving average of $12.69 and a two-hundred day simple moving average of $13.46. The company has a market capitalization of $407.08 million, a price-to-earnings ratio of -43.27, a P/E/G ratio of 3.99 and a beta of 1.04.

Gladstone Land Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 20th will be issued a $0.0467 dividend. This represents a $0.56 annualized dividend and a dividend yield of 4.98%. The ex-dividend date is Friday, December 20th. Gladstone Land’s payout ratio is -215.38%.

Hedge Funds Weigh In On Gladstone Land

Several institutional investors have recently added to or reduced their stakes in LAND. Price T Rowe Associates Inc. MD raised its position in Gladstone Land by 17.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,922 shares of the real estate investment trust’s stock valued at $306,000 after purchasing an additional 3,421 shares during the last quarter. Pullen Investment Management LLC increased its stake in shares of Gladstone Land by 1.7% in the 2nd quarter. Pullen Investment Management LLC now owns 47,106 shares of the real estate investment trust’s stock valued at $645,000 after buying an additional 803 shares during the period. Signaturefd LLC raised its position in shares of Gladstone Land by 3,910.3% during the second 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 last quarter. Rhumbline Advisers lifted its stake in shares of Gladstone Land by 5.1% during the second quarter. Rhumbline Advisers now owns 62,105 shares of the real estate investment trust’s stock valued at $850,000 after acquiring an additional 3,006 shares during the period. Finally, Trueblood Wealth Management LLC bought a new position in Gladstone Land in the second quarter valued at about $192,000. 53.60% of the stock is owned by institutional investors.

About Gladstone Land

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.