Sumitomo Mitsui Trust Holdings Inc. Has $580,000 Position in Gladstone Land Co. (NASDAQ:LAND)

Sumitomo Mitsui Trust Holdings Inc. raised its stake in Gladstone Land Co. (NASDAQ:LAND) by 12.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 40,139 shares of the real estate investment trust’s stock after buying an additional 4,523 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Gladstone Land were worth $580,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of LAND. International Assets Investment Management LLC acquired a new position in shares of Gladstone Land in the fourth quarter valued at $727,000. Kayne Anderson Capital Advisors LP acquired a new position in shares of Gladstone Land in the third quarter valued at $327,000. Vanguard Group Inc. increased its holdings in shares of Gladstone Land by 0.6% in the third quarter. Vanguard Group Inc. now owns 3,475,939 shares of the real estate investment trust’s stock valued at $49,463,000 after purchasing an additional 21,581 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Gladstone Land in the third quarter valued at $212,000. Finally, Mutual Advisors LLC bought a new stake in shares of Gladstone Land in the fourth quarter valued at about $211,000. 53.60% of the stock is currently owned by institutional investors and hedge funds.

Gladstone Land Trading Down 0.5 %

Shares of Gladstone Land stock opened at $12.64 on Friday. The firm has a 50-day moving average of $13.01 and a 200-day moving average of $13.75. The stock has a market cap of $453.02 million, a PE ratio of -46.81, a PEG ratio of 3.27 and a beta of 1.00. Gladstone Land Co. has a 52-week low of $12.31 and a 52-week high of $17.48. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.80 and a current ratio of 1.80.

Gladstone Land Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, June 28th. Stockholders of record on Wednesday, June 19th will be given a $0.0466 dividend. The ex-dividend date of this dividend is Tuesday, June 18th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.42%. Gladstone Land’s payout ratio is presently -207.41%.

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.