Envestnet Asset Management Inc. Sells 2,248 Shares of Gladstone Land Co. (NASDAQ:LAND)

Envestnet Asset Management Inc. reduced its position in Gladstone Land Co. (NASDAQ:LAND) by 3.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,004 shares of the real estate investment trust’s stock after selling 2,248 shares during the period. Envestnet Asset Management Inc. owned approximately 0.15% of Gladstone Land worth $608,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of LAND. Hager Investment Management Services LLC purchased a new stake in shares of Gladstone Land in the fourth quarter worth approximately $27,000. KLP Kapitalforvaltning AS bought a new stake in Gladstone Land during the fourth quarter worth $62,000. AlphaQuest LLC raised its position in Gladstone Land by 63.2% in the 4th quarter. AlphaQuest LLC now owns 5,841 shares of the real estate investment trust’s stock valued at $63,000 after buying an additional 2,261 shares during the last quarter. Entropy Technologies LP purchased a new stake in Gladstone Land in the 4th quarter valued at $118,000. Finally, Fiduciary Group LLC bought a new position in Gladstone Land during the 4th quarter valued at $123,000. Institutional investors and hedge funds own 53.60% of the company’s stock.

Insider Activity at Gladstone Land

In related news, Director Anthony W. Parker sold 6,601 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $11.02, for a total transaction of $72,743.02. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 7.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

Gladstone Land Stock Up 0.3 %

Shares of NASDAQ LAND opened at $9.88 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.99 and a debt-to-equity ratio of 0.77. The company has a market cap of $357.51 million, a P/E ratio of -34.07, a P/E/G ratio of 3.74 and a beta of 1.15. Gladstone Land Co. has a 52 week low of $8.66 and a 52 week high of $15.36. The business has a 50-day simple moving average of $10.32 and a two-hundred day simple moving average of $11.14.

Gladstone Land (NASDAQ:LAND) last issued its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported $0.09 EPS for the quarter, beating the consensus estimate of ($0.10) by $0.19. Gladstone Land had a net margin of 15.59% and a return on equity of 1.89%. The company had revenue of $21.10 million during the quarter, compared to analysts’ expectations of $20.45 million. Research analysts anticipate that Gladstone Land Co. will post 0.52 earnings per share for the current fiscal year.

Gladstone Land Announces Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, April 22nd were given a $0.0467 dividend. This represents a dividend yield of 5.75%. The ex-dividend date was Monday, April 21st. Gladstone Land’s dividend payout ratio (DPR) is -193.10%.

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.