Moors & Cabot Inc. Boosts Stock Position in Gladstone Land Co. (NASDAQ:LAND)

Moors & Cabot Inc. raised its position in shares of Gladstone Land Co. (NASDAQ:LAND) by 6.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 97,650 shares of the real estate investment trust’s stock after buying an additional 5,750 shares during the quarter. Moors & Cabot Inc. owned about 0.27% of Gladstone Land worth $1,337,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Tidal Investments LLC bought a new position in shares of Gladstone Land during the 1st quarter worth approximately $652,000. GSA Capital Partners LLP lifted its holdings in shares of Gladstone Land by 216.8% during the 1st quarter. GSA Capital Partners LLP now owns 70,383 shares of the real estate investment trust’s stock valued at $939,000 after purchasing an additional 48,167 shares during the last quarter. Pullen Investment Management LLC acquired a new stake in shares of Gladstone Land in the 1st quarter worth $617,000. Quest Partners LLC acquired a new stake in shares of Gladstone Land in the 4th quarter worth $399,000. Finally, Prevail Innovative Wealth Advisors LLC purchased a new position in Gladstone Land during the 4th quarter worth $233,000. 53.60% of the stock is currently owned by institutional investors.

Gladstone Land Stock Down 0.2 %

Gladstone Land stock opened at $14.56 on Wednesday. The business’s 50-day simple moving average is $14.14 and its two-hundred day simple moving average is $13.51. The company has a debt-to-equity ratio of 0.78, a quick ratio of 4.43 and a current ratio of 4.43. The company has a market cap of $521.80 million, a PE ratio of 242.67, a PEG ratio of 4.47 and a beta of 1.07. Gladstone Land Co. has a fifty-two week low of $12.31 and a fifty-two week high of $15.36.

Gladstone Land Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 20th will be given a $0.0467 dividend. The ex-dividend date of this dividend is Friday, September 20th. This represents a $0.56 dividend on an annualized basis and a yield of 3.85%. Gladstone Land’s dividend payout ratio is currently 933.33%.

Analysts Set New Price Targets

LAND has been the subject of several recent analyst reports. Maxim Group downgraded Gladstone Land from a “buy” rating to a “hold” rating in a report on Monday, August 12th. Alliance Global Partners started coverage on shares of Gladstone Land in a research report on Tuesday, June 11th. They issued a “buy” rating and a $16.00 price objective for the company. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Gladstone Land currently has a consensus rating of “Hold” and an average target price of $16.00.

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.