Creative Planning Increases Stock Position in Gladstone Land Co. (NASDAQ:LAND)

Creative Planning raised its position in shares of Gladstone Land Co. (NASDAQ:LAND) by 10.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,536 shares of the real estate investment trust’s stock after buying an additional 2,215 shares during the quarter. Creative Planning owned about 0.06% of Gladstone Land worth $313,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC raised its position in shares of Gladstone Land by 0.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 246,125 shares of the real estate investment trust’s stock worth $3,283,000 after purchasing an additional 2,042 shares during the last quarter. Marathon Capital Management raised its position in shares of Gladstone Land by 0.5% in the 2nd quarter. Marathon Capital Management now owns 154,271 shares of the real estate investment trust’s stock worth $2,112,000 after purchasing an additional 781 shares during the last quarter. Moors & Cabot Inc. raised its position in shares of Gladstone Land by 6.3% in the 2nd quarter. Moors & Cabot Inc. now owns 97,650 shares of the real estate investment trust’s stock worth $1,337,000 after purchasing an additional 5,750 shares during the last quarter. Rhumbline Advisers raised its position in shares of Gladstone Land by 5.1% in the 2nd quarter. Rhumbline Advisers now owns 62,105 shares of the real estate investment trust’s stock worth $850,000 after purchasing an additional 3,006 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Gladstone Land by 17.6% in the 2nd quarter. AQR Capital Management LLC now owns 52,381 shares of the real estate investment trust’s stock worth $717,000 after purchasing an additional 7,848 shares during the last quarter. Hedge funds and other institutional investors own 53.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on LAND shares. Maxim Group lowered Gladstone Land from a “buy” rating to a “hold” rating in a research report on Monday, August 12th. Alliance Global Partners lowered Gladstone Land from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $16.00 to $14.50 in a research report on Friday. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $15.50.

Gladstone Land Price Performance

Shares of NASDAQ:LAND opened at $12.91 on Friday. Gladstone Land Co. has a fifty-two week low of $12.31 and a fifty-two week high of $15.36. The business has a 50-day simple moving average of $13.68 and a two-hundred day simple moving average of $13.66. The company has a debt-to-equity ratio of 0.78, a quick ratio of 4.43 and a current ratio of 4.43. The firm has a market cap of $462.69 million, a price-to-earnings ratio of -49.65, a price-to-earnings-growth ratio of 4.41 and a beta of 1.08.

Gladstone Land Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 20th will be given a $0.0467 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date of this dividend is Friday, December 20th. Gladstone Land’s dividend payout ratio (DPR) is -215.38%.

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.