Gladstone Land Co. (NASDAQ:LAND) Position Boosted by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its position in Gladstone Land Co. (NASDAQ:LAND - Free Report) by 62.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 139,298 shares of the real estate investment trust's stock after acquiring an additional 53,400 shares during the quarter. JPMorgan Chase & Co. owned 0.38% of Gladstone Land worth $1,936,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC boosted its position 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 valued at $1,186,000 after buying an additional 40,459 shares during the last quarter. Versor Investments LP acquired a new stake in Gladstone Land during the 3rd quarter valued at approximately $272,000. Ballentine Partners LLC purchased a new stake in Gladstone Land during the 3rd quarter worth approximately $257,000. State Street Corp raised its position in shares of Gladstone Land by 2.1% in the 3rd 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 in the last quarter. Finally, Geode Capital Management LLC boosted its stake 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 buying an additional 13,217 shares during the last quarter. Institutional investors and hedge funds own 53.60% of the company's stock.

Wall Street Analyst Weigh In

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

Gladstone Land Stock Performance

Shares of LAND stock traded down $0.02 on Thursday, hitting $10.43. 344,235 shares of the stock traded hands, compared to its average volume of 311,496. The company's fifty day moving average is $11.19 and its 200 day moving average is $12.92. Gladstone Land Co. has a 1-year low of $10.27 and a 1-year high of $15.36. The company has a market capitalization of $377.46 million, a PE ratio of -40.12, a PEG ratio of 3.54 and a beta of 1.05. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.70 and a quick ratio of 0.70.

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

Gladstone Land Increases Dividend

The business also recently announced a dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 27th will be paid a $0.0467 dividend. This is an increase from Gladstone Land's previous dividend of $0.04. This represents a yield of 5.36%. The ex-dividend date of this dividend is Friday, January 24th. Gladstone Land's payout ratio is presently -215.38%.

Gladstone Land 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.