Insider Selling: Gladstone Land Co. (NASDAQ:LAND) Director Sells 6,601 Shares of Stock

Gladstone Land Co. (NASDAQ:LANDGet Free Report) Director Anthony W. Parker sold 6,601 shares of Gladstone Land stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $11.02, for a total value of $72,743.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Gladstone Land Trading Up 2.4 %

NASDAQ LAND opened at $10.82 on Monday. Gladstone Land Co. has a 12 month low of $10.27 and a 12 month high of $15.36. The company has a current ratio of 0.99, a quick ratio of 0.70 and a debt-to-equity ratio of 0.77. The business’s 50-day moving average price is $11.04 and its two-hundred day moving average price is $12.12. The firm has a market capitalization of $391.52 million, a PE ratio of -37.31, a price-to-earnings-growth ratio of 3.74 and a beta of 1.11.

Gladstone Land (NASDAQ:LANDGet Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The real estate investment trust reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.19. The business had revenue of $21.10 million for the quarter, compared to the consensus estimate of $20.45 million. Gladstone Land had a return on equity of 1.89% and a net margin of 15.59%. On average, analysts expect that Gladstone Land Co. will post 0.52 EPS for the current year.

Gladstone Land Increases Dividend

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

Wall Street Analyst Weigh In

Separately, StockNews.com cut Gladstone Land from a “hold” rating to a “sell” rating in a report on Wednesday, March 5th.

View Our Latest Stock Report on LAND

Institutional Trading of Gladstone Land

Several institutional investors and hedge funds have recently modified their holdings of LAND. Millennium Management LLC purchased a new stake in shares of Gladstone Land during the fourth quarter valued at approximately $2,051,000. Southern Style Financial Inc. purchased a new stake in shares of Gladstone Land during the fourth quarter valued at approximately $1,893,000. Renaissance Technologies LLC increased its position in shares of Gladstone Land by 87.5% during the fourth quarter. Renaissance Technologies LLC now owns 245,600 shares of the real estate investment trust’s stock valued at $2,665,000 after acquiring an additional 114,600 shares during the last quarter. Accordant Advisory Group Inc increased its position in shares of Gladstone Land by 66.3% during the fourth quarter. Accordant Advisory Group Inc now owns 179,355 shares of the real estate investment trust’s stock valued at $1,946,000 after acquiring an additional 71,507 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Gladstone Land by 62.2% during the third quarter. JPMorgan Chase & Co. now owns 139,298 shares of the real estate investment trust’s stock valued at $1,936,000 after acquiring an additional 53,400 shares during the last quarter. 53.60% of the stock is owned by hedge funds and other institutional investors.

Gladstone Land Company Profile

(Get 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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