Gladstone Land Corporation $LAND Shares Purchased by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. lifted its stake in Gladstone Land Corporation (NASDAQ:LAND) by 5.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 407,183 shares of the real estate investment trust’s stock after purchasing an additional 22,557 shares during the quarter. Goldman Sachs Group Inc. owned about 1.13% of Gladstone Land worth $4,284,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. increased its stake in Gladstone Land by 5.8% during the first quarter. Russell Investments Group Ltd. now owns 20,348 shares of the real estate investment trust’s stock worth $214,000 after acquiring an additional 1,114 shares during the last quarter. Cetera Investment Advisers boosted its position in shares of Gladstone Land by 7.0% during the fourth quarter. Cetera Investment Advisers now owns 23,629 shares of the real estate investment trust’s stock worth $256,000 after buying an additional 1,546 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Gladstone Land by 13.8% during the first quarter. PNC Financial Services Group Inc. now owns 13,090 shares of the real estate investment trust’s stock worth $138,000 after buying an additional 1,583 shares during the period. Arbor Capital Management Inc. ADV boosted its position in shares of Gladstone Land by 5.0% during the first quarter. Arbor Capital Management Inc. ADV now owns 33,539 shares of the real estate investment trust’s stock worth $350,000 after buying an additional 1,603 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Gladstone Land by 2.9% during the first quarter. Invesco Ltd. now owns 61,573 shares of the real estate investment trust’s stock worth $648,000 after buying an additional 1,707 shares during the period. Institutional investors and hedge funds own 53.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on LAND shares. Zacks Research upgraded Gladstone Land to a “strong sell” rating in a report on Friday, August 8th. Oppenheimer reiterated an “outperform” rating on shares of Gladstone Land in a report on Friday, May 23rd. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $14.50.

Gladstone Land Stock Performance

NASDAQ:LAND opened at $9.00 on Thursday. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.21 and a quick ratio of 2.21. The firm has a 50-day moving average of $9.37 and a two-hundred day moving average of $9.85. The stock has a market cap of $325.67 million, a P/E ratio of -20.45, a PEG ratio of 6.62 and a beta of 1.15. Gladstone Land Corporation has a 1-year low of $8.47 and a 1-year high of $14.71.

Gladstone Land Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, July 21st were paid a dividend of $0.0467 per share. The ex-dividend date was Monday, July 21st. This represents a c) annualized dividend and a yield of 6.2%. Gladstone Land’s dividend payout ratio is -127.27%.

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.