Gladstone Land (NASDAQ:LAND) Shares Pass Above Two Hundred Day Moving Average - Here's What Happened

Gladstone Land Co. (NASDAQ:LAND - Get Free Report) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $13.66 and traded as high as $13.73. Gladstone Land shares last traded at $13.38, with a volume of 327,968 shares.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Alliance Global Partners lowered shares of Gladstone Land from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $16.00 to $14.50 in a research note on Friday. Maxim Group cut Gladstone Land from a "buy" rating to a "hold" rating in a research report on Monday, August 12th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Gladstone Land currently has an average rating of "Hold" and an average target price of $15.50.

Gladstone Land Stock Down 3.5 %

The stock's 50-day moving average price is $13.68 and its two-hundred day moving average price is $13.66. The stock has a market capitalization of $462.67 million, a PE ratio of -49.65, a P/E/G ratio of 4.28 and a beta of 1.08. The company has a debt-to-equity ratio of 0.78, a quick ratio of 4.43 and a current ratio of 4.43.

Gladstone Land Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 20th will be given a dividend of $0.0467 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.56 dividend on an annualized basis and a yield of 4.34%. Gladstone Land's dividend payout ratio (DPR) is -215.38%.

Institutional Trading of Gladstone Land

Several large investors have recently added to or reduced their stakes in the business. Signaturefd LLC grew its holdings in Gladstone Land by 3,910.3% during the 2nd quarter. Signaturefd LLC now owns 3,128 shares of the real estate investment trust's stock valued at $43,000 after buying an additional 3,050 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in Gladstone Land during the 3rd quarter worth $50,000. M&G Plc bought a new stake in shares of Gladstone Land in the 1st quarter valued at about $138,000. LRI Investments LLC purchased a new stake in shares of Gladstone Land during the 1st quarter worth $149,000. Finally, SG Americas Securities LLC lifted its position in Gladstone Land by 41.0% during the third quarter. SG Americas Securities LLC now owns 12,280 shares of the real estate investment trust's stock valued at $171,000 after acquiring an additional 3,572 shares during the last quarter. 53.60% of the stock is currently owned by institutional investors.

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.