Amundi Sells 127,963 Shares of Gladstone Land Corporation $LAND

Amundi decreased its stake in shares of Gladstone Land Corporation (NASDAQ:LAND) by 9.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,174,879 shares of the real estate investment trust’s stock after selling 127,963 shares during the period. Amundi owned 3.25% of Gladstone Land worth $12,372,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LAND. Vanguard Group Inc. lifted its position in shares of Gladstone Land by 0.3% during the first quarter. Vanguard Group Inc. now owns 3,402,275 shares of the real estate investment trust’s stock worth $35,792,000 after purchasing an additional 11,111 shares in the last quarter. Northern Trust Corp boosted its position in Gladstone Land by 7.1% in the 4th quarter. Northern Trust Corp now owns 458,975 shares of the real estate investment trust’s stock valued at $4,980,000 after buying an additional 30,322 shares during the last quarter. Accordant Advisory Group Inc increased its stake in shares of Gladstone Land by 38.7% in the 1st quarter. Accordant Advisory Group Inc now owns 248,683 shares of the real estate investment trust’s stock valued at $2,616,000 after buying an additional 69,328 shares during the period. Millennium Management LLC bought a new stake in shares of Gladstone Land during the fourth quarter worth $2,051,000. Finally, Allianz Asset Management GmbH lifted its stake in shares of Gladstone Land by 8.7% during the first quarter. Allianz Asset Management GmbH now owns 99,874 shares of the real estate investment trust’s stock valued at $1,051,000 after acquiring an additional 7,998 shares during the period. Institutional investors and hedge funds own 53.60% of the company’s stock.

Gladstone Land Stock Down 1.2%

Shares of NASDAQ:LAND opened at $8.90 on Wednesday. The company has a 50 day moving average price of $9.56 and a two-hundred day moving average price of $9.94. The company has a market capitalization of $322.09 million, a PE ratio of -20.23, a PEG ratio of 6.67 and a beta of 1.15. Gladstone Land Corporation has a 52 week low of $8.47 and a 52 week high of $14.88. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.21 and a current ratio of 2.21.

Gladstone Land Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, July 21st were paid a $0.0467 dividend. The ex-dividend date of this dividend was Monday, July 21st. This represents a c) dividend on an annualized basis and a yield of 6.3%. Gladstone Land’s payout ratio is presently -127.27%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on LAND shares. Oppenheimer reissued an “outperform” rating on shares of Gladstone Land in a report on Friday, May 23rd. Zacks Research upgraded shares of Gladstone Land to a “strong sell” rating in a report on Friday, August 8th. Alliance Global Partners reaffirmed a “neutral” rating on shares of Gladstone Land in a report on Tuesday, May 13th. Finally, Wall Street Zen upgraded shares of Gladstone Land from a “sell” rating to a “hold” rating in a research report on Wednesday, May 14th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $14.50.

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.