Gladstone Land Co. (NASDAQ:LAND) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its holdings in Gladstone Land Co. (NASDAQ:LAND) by 23.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 172,583 shares of the real estate investment trust’s stock after acquiring an additional 33,285 shares during the period. JPMorgan Chase & Co. owned 0.48% of Gladstone Land worth $1,873,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Rhumbline Advisers lifted its stake in shares of Gladstone Land by 1.9% in the 4th quarter. Rhumbline Advisers now owns 59,290 shares of the real estate investment trust’s stock valued at $643,000 after purchasing an additional 1,130 shares during the last quarter. Catalyst Capital Advisors LLC lifted its position in Gladstone Land by 9.5% in the fourth quarter. Catalyst Capital Advisors LLC now owns 13,685 shares of the real estate investment trust’s stock valued at $148,000 after buying an additional 1,192 shares during the last quarter. Millburn Ridgefield Corp lifted its position in Gladstone Land by 9.5% in the fourth quarter. Millburn Ridgefield Corp now owns 13,685 shares of the real estate investment trust’s stock valued at $148,000 after buying an additional 1,192 shares during the last quarter. AlphaQuest LLC increased its position in shares of Gladstone Land by 63.2% during the fourth quarter. AlphaQuest LLC now owns 5,841 shares of the real estate investment trust’s stock valued at $63,000 after acquiring an additional 2,261 shares during the last quarter. Finally, Hager Investment Management Services LLC purchased a new stake in shares of Gladstone Land in the 4th quarter valued at approximately $27,000. 53.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Gladstone Land

In other news, Director Anthony W. Parker sold 6,601 shares of the firm’s 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 SEC, which is available through this hyperlink. 7.20% of the stock is owned by corporate insiders.

Gladstone Land Stock Down 0.9 %

Shares of LAND opened at $9.71 on Friday. The company’s 50-day simple moving average is $10.50 and its 200-day simple moving average is $11.31. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.70 and a current ratio of 0.99. Gladstone Land Co. has a 1 year low of $8.66 and a 1 year high of $15.36. The stock has a market capitalization of $351.36 million, a PE ratio of -33.48, a P/E/G ratio of 3.74 and a beta of 1.15.

Gladstone Land (NASDAQ:LAND) last released its earnings results on Wednesday, February 19th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.19. The company had revenue of $21.10 million for the quarter, compared to analyst estimates of $20.45 million. Gladstone Land had a net margin of 15.59% and a return on equity of 1.89%. Analysts forecast that Gladstone Land Co. will post 0.52 earnings per share for the current fiscal year.

Gladstone Land Announces Dividend

The business also recently declared a dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 22nd will be issued a dividend of $0.0467 per share. The ex-dividend date of this dividend is Monday, April 21st. This represents a yield of 5.75%. Gladstone Land’s dividend payout ratio (DPR) is -193.10%.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Gladstone Land from a “hold” rating to a “sell” rating in a research report on Wednesday, March 5th.

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.