Gladstone Land Co. (NASDAQ:LAND) Shares Sold by Raymond James & Associates

Raymond James & Associates reduced its stake in shares of Gladstone Land Co. (NASDAQ:LAND) by 24.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,827 shares of the real estate investment trust’s stock after selling 6,342 shares during the period. Raymond James & Associates’ holdings in Gladstone Land were worth $287,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its position in Gladstone Land by 0.6% during 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 acquiring an additional 21,581 shares during the period. Schwarz Dygos Wheeler Investment Advisors LLC lifted its stake in shares of Gladstone Land by 2.6% in the 3rd quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 172,665 shares of the real estate investment trust’s stock valued at $2,457,000 after purchasing an additional 4,416 shares in the last quarter. WESPAC Advisors LLC grew its holdings in shares of Gladstone Land by 6.0% during the 3rd quarter. WESPAC Advisors LLC now owns 67,944 shares of the real estate investment trust’s stock worth $967,000 after purchasing an additional 3,844 shares during the period. Moors & Cabot Inc. increased its position in Gladstone Land by 11.2% during the 3rd quarter. Moors & Cabot Inc. now owns 46,666 shares of the real estate investment trust’s stock worth $664,000 after purchasing an additional 4,700 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in Gladstone Land by 16.8% in the third quarter. Commonwealth Equity Services LLC now owns 41,784 shares of the real estate investment trust’s stock valued at $595,000 after buying an additional 6,013 shares during the period. 53.60% of the stock is owned by institutional investors and hedge funds.

Gladstone Land Stock Performance

NASDAQ:LAND opened at $12.72 on Tuesday. The firm’s fifty day simple moving average is $12.98 and its 200 day simple moving average is $13.72. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.80. Gladstone Land Co. has a twelve month low of $12.31 and a twelve month high of $17.48. The firm has a market capitalization of $455.88 million, a price-to-earnings ratio of -47.11, a PEG ratio of 3.25 and a beta of 1.00.

Gladstone Land Announces Dividend

The business 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. This represents a $0.56 annualized dividend and a dividend yield of 4.40%. The ex-dividend date of this dividend is Tuesday, June 18th. Gladstone Land’s payout ratio is -207.41%.

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.