Bank of New York Mellon Corp Increases Stock Position in Gladstone Land Co. (NASDAQ:LAND)

Bank of New York Mellon Corp lifted its holdings in shares of Gladstone Land Co. (NASDAQ:LAND - Free Report) by 15.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 201,093 shares of the real estate investment trust's stock after acquiring an additional 26,565 shares during the period. Bank of New York Mellon Corp owned 0.56% of Gladstone Land worth $2,182,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in LAND. Southern Style Financial Inc. acquired a new stake in shares of Gladstone Land during the fourth quarter worth about $1,893,000. Accordant Advisory Group Inc increased its position in Gladstone Land by 66.3% during the fourth quarter. Accordant Advisory Group Inc now owns 179,355 shares of the real estate investment trust's stock worth $1,946,000 after buying an additional 71,507 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Gladstone Land by 62.2% in the third 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. Barclays PLC boosted its stake in Gladstone Land by 90.2% during the 3rd quarter. Barclays PLC now owns 85,297 shares of the real estate investment trust's stock worth $1,186,000 after purchasing an additional 40,459 shares during the period. Finally, State Street Corp lifted its holdings in shares of Gladstone Land by 2.1% during the third quarter. State Street Corp now owns 795,775 shares of the real estate investment trust's stock worth $11,061,000 after purchasing an additional 16,079 shares during the period. Hedge funds and other institutional investors own 53.60% of the company's stock.

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Wall Street Analyst Weigh In

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

Gladstone Land Price Performance

Shares of LAND traded down $0.10 during mid-day trading on Tuesday, hitting $10.41. The company's stock had a trading volume of 249,285 shares, compared to its average volume of 234,963. The firm has a 50-day simple moving average of $11.05 and a 200 day simple moving average of $12.00. Gladstone Land Co. has a 1-year low of $10.27 and a 1-year high of $15.36. The firm has a market capitalization of $376.69 million, a P/E ratio of -35.90, a P/E/G ratio of 3.74 and a beta of 1.11. The company has a current ratio of 0.99, a quick ratio of 0.70 and a debt-to-equity ratio of 0.77.

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

Gladstone Land Increases Dividend

The company also recently declared a dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 27th were paid a dividend of $0.0467 per share. This is a positive change from Gladstone Land's previous dividend of $0.04. The ex-dividend date of this dividend was Friday, January 24th. This represents a dividend yield of 5.33%. Gladstone Land's payout ratio is -193.10%.

Insider Buying and Selling

In other Gladstone Land news, Director Anthony W. Parker sold 6,601 shares of the business's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $11.02, for a total transaction of $72,743.02. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 7.20% of the company's stock.

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.