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

Gladstone Land Co. (NASDAQ:LAND) 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:LAND) 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.

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

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.