Gladstone Land Co. (NASDAQ:LAND) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC reduced its stake in shares of Gladstone Land Co. (NASDAQ:LAND - Free Report) by 12.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 220,256 shares of the real estate investment trust's stock after selling 31,582 shares during the quarter. Janney Montgomery Scott LLC owned approximately 0.61% of Gladstone Land worth $2,390,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in LAND. Larson Financial Group LLC grew its position in shares of Gladstone Land by 224.2% during the 3rd quarter. Larson Financial Group LLC now owns 1,929 shares of the real estate investment trust's stock worth $27,000 after buying an additional 1,334 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in Gladstone Land during the 3rd quarter valued at about $50,000. BNP Paribas Financial Markets boosted its stake in shares of Gladstone Land by 45.3% during the third quarter. BNP Paribas Financial Markets now owns 11,409 shares of the real estate investment trust's stock valued at $159,000 after purchasing an additional 3,556 shares in the last quarter. SG Americas Securities LLC increased its holdings 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 buying an additional 3,572 shares during the period. Finally, Cornercap Investment Counsel Inc. bought a new position in Gladstone Land in the third quarter worth approximately $180,000. 53.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Gladstone Land Stock Down 0.1 %

LAND traded down $0.01 during trading on Wednesday, hitting $10.91. The stock had a trading volume of 164,869 shares, compared to its average volume of 294,612. The stock has a 50 day simple moving average of $10.98 and a two-hundred day simple moving average of $12.67. The company has a market capitalization of $394.78 million, a PE ratio of -41.96, a PEG ratio of 3.48 and a beta of 1.05. 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 Co. has a twelve month low of $10.27 and a twelve month high of $15.36.

Gladstone Land (NASDAQ:LAND - Get Free Report) last announced its earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.16) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.29). The business had revenue of $22.57 million for the quarter, compared to analysts' expectations of $21.47 million. Gladstone Land had a return on equity of 2.05% and a net margin of 16.45%. During the same quarter last year, the firm earned $0.16 earnings per share. On average, research analysts predict that Gladstone Land Co. will post 0.52 earnings per share for the current year.

Gladstone Land Increases Dividend

The business also recently disclosed a dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 27th were issued a dividend of $0.0467 per share. The ex-dividend date was Friday, January 24th. This represents a dividend yield of 5.33%. This is an increase from Gladstone Land's previous dividend of $0.04. Gladstone Land's dividend payout ratio is -215.38%.

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.