PFG Investments LLC Lowers Position in Gladstone Land Co. (NASDAQ:LAND)

PFG Investments LLC decreased its stake in Gladstone Land Co. (NASDAQ:LAND) by 70.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 40,481 shares of the real estate investment trust’s stock after selling 98,293 shares during the period. PFG Investments LLC’s holdings in Gladstone Land were worth $439,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. BNP Paribas Financial Markets increased its holdings in Gladstone Land by 45.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,409 shares of the real estate investment trust’s stock worth $159,000 after acquiring an additional 3,556 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Gladstone Land by 62.2% in the third quarter. JPMorgan Chase & Co. now owns 139,298 shares of the real estate investment trust’s stock worth $1,936,000 after purchasing an additional 53,400 shares in the last quarter. Barclays PLC lifted its stake in shares of Gladstone Land by 90.2% during the 3rd quarter. Barclays PLC now owns 85,297 shares of the real estate investment trust’s stock valued at $1,186,000 after buying an additional 40,459 shares in the last quarter. State Street Corp lifted its stake in shares of Gladstone Land by 2.1% during the 3rd quarter. State Street Corp now owns 795,775 shares of the real estate investment trust’s stock valued at $11,061,000 after buying an additional 16,079 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Gladstone Land by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 900,632 shares of the real estate investment trust’s stock worth $12,521,000 after buying an additional 13,217 shares in the last quarter. Institutional investors own 53.60% of the company’s stock.

Gladstone Land Price Performance

Shares of NASDAQ:LAND opened at $10.85 on Friday. The firm has a market cap of $392.66 million, a price-to-earnings ratio of -41.73, a P/E/G ratio of 3.35 and a beta of 1.05. The firm has a fifty day moving average price of $11.07 and a 200 day moving average price of $12.80. Gladstone Land Co. has a fifty-two week low of $10.27 and a fifty-two week high of $15.36. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.70 and a current ratio of 0.70.

Gladstone Land (NASDAQ:LAND) last released its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported ($0.16) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.29). Gladstone Land had a net margin of 16.45% and a return on equity of 2.05%. The company had revenue of $22.57 million for the quarter, compared to the consensus estimate of $21.47 million. During the same period last year, the company earned $0.16 EPS. As a group, sell-side analysts expect that Gladstone Land Co. will post 0.52 earnings per share for the current fiscal year.

Gladstone Land Increases Dividend

The company also recently disclosed a dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 27th will be paid a $0.0467 dividend. This is an increase from Gladstone Land’s previous dividend of $0.04. The ex-dividend date is Friday, January 24th. This represents a yield of 5.33%. Gladstone Land’s payout ratio is presently -215.38%.

Analyst Upgrades and Downgrades

Separately, Alliance Global Partners downgraded Gladstone Land from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $16.00 to $14.50 in a research report on Friday, November 8th.

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.