Accordant Advisory Group Inc Increases Stock Position in Gladstone Land Co. (NASDAQ:LAND)

Accordant Advisory Group Inc raised its position in shares of Gladstone Land Co. (NASDAQ:LAND - Free Report) by 66.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 179,355 shares of the real estate investment trust's stock after purchasing an additional 71,507 shares during the quarter. Gladstone Land makes up approximately 1.9% of Accordant Advisory Group Inc's investment portfolio, making the stock its 17th largest holding. Accordant Advisory Group Inc owned approximately 0.50% of Gladstone Land worth $1,946,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in shares of Gladstone Land by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 900,632 shares of the real estate investment trust's stock valued at $12,521,000 after purchasing an additional 13,217 shares in the last quarter. State Street Corp boosted its holdings in shares of Gladstone Land by 2.1% during the 3rd quarter. State Street Corp now owns 795,775 shares of the real estate investment trust's stock worth $11,061,000 after buying an additional 16,079 shares in the last quarter. Janney Montgomery Scott LLC grew its position in shares of Gladstone Land by 3.8% during the 3rd quarter. Janney Montgomery Scott LLC now owns 251,838 shares of the real estate investment trust's stock worth $3,501,000 after buying an additional 9,143 shares during the period. Southern Style Financial Inc. acquired a new stake in shares of Gladstone Land during the 4th quarter worth approximately $1,893,000. Finally, JPMorgan Chase & Co. lifted its position in shares of Gladstone Land by 62.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 139,298 shares of the real estate investment trust's stock valued at $1,936,000 after acquiring an additional 53,400 shares during the period. Institutional investors own 53.60% of the company's stock.

Wall Street Analyst Weigh In

Separately, Alliance Global Partners cut shares of Gladstone Land from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $16.00 to $14.50 in a report on Friday, November 8th.

Gladstone Land Stock Up 0.1 %

Gladstone Land stock traded up $0.01 during mid-day trading on Friday, reaching $10.86. The stock had a trading volume of 256,468 shares, compared to its average volume of 284,979. The firm has a market capitalization of $392.97 million, a PE ratio of -41.77, a price-to-earnings-growth ratio of 3.46 and a beta of 1.05. Gladstone Land Co. has a fifty-two week low of $10.27 and a fifty-two week high of $15.36. The stock's 50-day simple moving average is $11.02 and its 200-day simple moving average is $12.74. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.70 and a current ratio of 0.70.

Gladstone Land (NASDAQ:LAND - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.29). Gladstone Land had a net margin of 16.45% and a return on equity of 2.05%. The business had revenue of $22.57 million during the quarter, compared to analyst estimates of $21.47 million. During the same period in the previous year, the business posted $0.16 EPS. On average, sell-side analysts forecast that Gladstone Land Co. will post 0.52 EPS for the current fiscal year.

Gladstone Land Increases Dividend

The firm also recently announced a dividend, which was paid on Friday, January 31st. Investors of record on Monday, January 27th were issued a $0.0467 dividend. This represents a dividend yield of 5.33%. The ex-dividend date of this dividend was Friday, January 24th. This is a positive change from Gladstone Land's previous dividend of $0.04. Gladstone Land's dividend payout ratio is currently -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.