Stelac Advisory Services LLC increased its stake in shares of Gladstone Land Corp (NASDAQ:LAND) by 2.3% during the first quarter, Holdings Channel reports. The firm owned 11,297 shares of the real estate investment trust’s stock after buying an additional 250 shares during the period. Stelac Advisory Services LLC’s holdings in Gladstone Land Corp were worth $120,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its position in Gladstone Land Corp by 10.4% in the first quarter. JPMorgan Chase & Co. now owns 9,890 shares of the real estate investment trust’s stock valued at $110,000 after buying an additional 929 shares during the period. Sei Investments Co. raised its position in Gladstone Land Corp by 10.0% in the first quarter. Sei Investments Co. now owns 11,098 shares of the real estate investment trust’s stock valued at $123,000 after buying an additional 1,007 shares during the period. Janney Montgomery Scott LLC raised its position in Gladstone Land Corp by 26.8% in the first quarter. Janney Montgomery Scott LLC now owns 29,051 shares of the real estate investment trust’s stock valued at $322,000 after buying an additional 6,138 shares during the period. Bank of New York Mellon Corp raised its position in Gladstone Land Corp by 13.8% in the first quarter. Bank of New York Mellon Corp now owns 47,587 shares of the real estate investment trust’s stock valued at $528,000 after buying an additional 5,786 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Gladstone Land Corp by 1.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 59,062 shares of the real estate investment trust’s stock valued at $664,000 after buying an additional 1,100 shares during the period. 25.88% of the stock is currently owned by institutional investors.
Shares of Gladstone Land Corp (NASDAQ:LAND) traded up 0.81% during mid-day trading on Friday, hitting $11.16. The stock had a trading volume of 26,880 shares. The stock has a 50-day moving average price of $11.11 and a 200 day moving average price of $11.31. The stock has a market cap of $111.87 million, a P/E ratio of 248.00 and a beta of 0.98. Gladstone Land Corp has a 52 week low of $9.51 and a 52 week high of $12.89.
Gladstone Land Corp (NASDAQ:LAND) last released its earnings results on Tuesday, February 21st. The real estate investment trust reported $0.01 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by $0.13. The firm had revenue of $4.92 million for the quarter, compared to analyst estimates of $5.43 million. Gladstone Land Corp had a return on equity of 0.92% and a net margin of 4.80%. On average, equities analysts forecast that Gladstone Land Corp will post $0.08 EPS for the current fiscal year.
The company also recently announced a monthly dividend, which will be paid on Friday, June 30th. Shareholders of record on Wednesday, June 21st will be given a dividend of $0.0435 per share. This represents a $0.52 dividend on an annualized basis and a yield of 4.72%. The ex-dividend date of this dividend is Monday, June 19th. Gladstone Land Corp’s dividend payout ratio is 742.86%.
Several research firms have commented on LAND. Singular Research began coverage on Gladstone Land Corp in a research report on Thursday. They issued a “buy” rating and a $14.25 price objective on the stock. Zacks Investment Research upgraded Gladstone Land Corp from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Wednesday, May 10th.
In other news, CEO David Gladstone bought 20,000 shares of the business’s stock in a transaction on Monday, March 13th. The stock was purchased at an average price of $11.15 per share, with a total value of $223,000.00. Following the transaction, the chief executive officer now directly owns 1,968,585 shares in the company, valued at $21,949,722.75. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last three months, insiders have acquired 21,150 shares of company stock valued at $235,689. Company insiders own 21.67% of the company’s stock.
Gladstone Land Corp Company Profile
Gladstone Land Corporation is an agricultural real estate investment trust (REIT). The Company is engaged in the business of owning and leasing farmland. The Company also owns various farm-related facilities, such as cooling facilities, buildings utilized for the storage and assembly of boxes for shipping produce (box barns), packinghouses, processing facilities and various storage facilities.
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