WESPAC Advisors LLC Acquires 13,842 Shares of Gladstone Land Co. (NASDAQ:LAND)

WESPAC Advisors LLC grew its holdings in shares of Gladstone Land Co. (NASDAQ:LAND) by 31.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 57,297 shares of the real estate investment trust’s stock after buying an additional 13,842 shares during the period. WESPAC Advisors LLC’s holdings in Gladstone Land were worth $622,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Catalyst Capital Advisors LLC boosted its holdings in shares of Gladstone Land by 9.5% during the 4th quarter. Catalyst Capital Advisors LLC now owns 13,685 shares of the real estate investment trust’s stock valued at $148,000 after buying an additional 1,192 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Gladstone Land by 1.9% during the 4th quarter. Rhumbline Advisers now owns 59,290 shares of the real estate investment trust’s stock valued at $643,000 after buying an additional 1,130 shares in the last quarter. Entropy Technologies LP bought a new stake in shares of Gladstone Land during the 4th quarter valued at $118,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Gladstone Land by 20.0% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 40,297 shares of the real estate investment trust’s stock valued at $437,000 after buying an additional 6,719 shares in the last quarter. Finally, Hager Investment Management Services LLC bought a new stake in shares of Gladstone Land during the 4th quarter valued at $27,000. Institutional investors own 53.60% of the company’s stock.

Gladstone Land Price Performance

LAND opened at $11.10 on Friday. The stock has a 50-day moving average price of $10.87 and a 200-day moving average price of $12.39. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.99 and a quick ratio of 0.70. The firm has a market cap of $401.65 million, a PE ratio of -38.27, a P/E/G ratio of 3.74 and a beta of 1.05. Gladstone Land Co. has a 1 year low of $10.27 and a 1 year high of $15.36.

Gladstone Land (NASDAQ:LAND) last posted its quarterly earnings results on Wednesday, February 19th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.19. The firm had revenue of $21.10 million during the quarter, compared to analyst estimates of $20.45 million. Gladstone Land had a return on equity of 1.89% and a net margin of 15.59%. Sell-side analysts predict that Gladstone Land Co. will post 0.52 earnings per share for the current fiscal year.

Gladstone Land Increases Dividend

The business also recently declared a dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 27th were given a $0.0467 dividend. This represents a dividend yield of 5.33%. The ex-dividend date of this dividend was Friday, January 24th. This is a positive change from Gladstone Land’s previous dividend of $0.04. Gladstone Land’s payout ratio is currently -193.10%.

Wall Street Analysts Forecast Growth

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

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.