Gladstone Land Co. (NASDAQ:LAND - Get Free Report) shares passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $13.06 and traded as low as $10.27. Gladstone Land shares last traded at $10.43, with a volume of 353,002 shares.
Analyst Upgrades and Downgrades
Separately, Alliance Global Partners cut Gladstone Land from a "buy" rating to a "neutral" rating and reduced their price target for the company from $16.00 to $14.50 in a research report on Friday, November 8th.
Check Out Our Latest Analysis on Gladstone Land
Gladstone Land Price Performance
The stock's 50-day simple moving average is $11.50 and its two-hundred day simple moving average is $13.06. The company has a market capitalization of $381.03 million, a price-to-earnings ratio of -40.50, a PEG ratio of 3.84 and a beta of 1.05. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.77.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake 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 worth $1,936,000 after buying an additional 53,400 shares in the last quarter. Barclays PLC lifted its stake in Gladstone Land by 90.2% in 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 in the last quarter. Versor Investments LP acquired a new position in shares of Gladstone Land during the 3rd quarter worth approximately $272,000. Ballentine Partners LLC purchased a new stake in shares of Gladstone Land in the third quarter valued at approximately $257,000. Finally, State Street Corp increased its holdings in shares of Gladstone Land by 2.1% in the third quarter. State Street Corp now owns 795,775 shares of the real estate investment trust's stock valued at $11,061,000 after purchasing an additional 16,079 shares during the last quarter. Hedge funds and other institutional investors own 53.60% of the company's stock.
About Gladstone Land
(
Get Free Report)
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.
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