PFG Investments LLC Sells 98,293 Shares of Gladstone Land Co. (NASDAQ:LAND)

PFG Investments LLC reduced its holdings in Gladstone Land Co. (NASDAQ:LAND - Free Report) by 70.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 40,481 shares of the real estate investment trust's stock after selling 98,293 shares during the period. PFG Investments LLC owned 0.11% of Gladstone Land worth $439,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its stake in shares of Gladstone Land by 45.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,409 shares of the real estate investment trust's stock worth $159,000 after purchasing an additional 3,556 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Gladstone Land by 62.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 139,298 shares of the real estate investment trust's stock valued at $1,936,000 after buying an additional 53,400 shares during the last quarter. Barclays PLC grew 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 valued at $1,186,000 after buying an additional 40,459 shares during the last quarter. State Street Corp grew its stake in 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 buying an additional 16,079 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Gladstone Land by 1.5% in 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. 53.60% of the stock is currently owned by institutional investors and hedge funds.

Gladstone Land Stock Performance

NASDAQ LAND traded down $0.12 during trading on Monday, reaching $10.74. The company's stock had a trading volume of 212,838 shares, compared to its average volume of 303,043. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $388.68 million, a price-to-earnings ratio of -41.31, a price-to-earnings-growth ratio of 3.48 and a beta of 1.05. Gladstone Land Co. has a 12 month low of $10.27 and a 12 month high of $15.36. The firm has a 50 day moving average price of $11.02 and a 200 day moving average price of $12.73.

Gladstone Land (NASDAQ:LAND - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported ($0.16) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.13 by ($0.29). The business had revenue of $22.57 million during the quarter, compared to the consensus estimate of $21.47 million. Gladstone Land had a net margin of 16.45% and a return on equity of 2.05%. During the same period in the prior year, the firm earned $0.16 EPS. As a group, equities analysts anticipate that Gladstone Land Co. will post 0.52 EPS for the current fiscal year.

Gladstone Land Increases Dividend

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

Analysts Set New Price Targets

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

About Gladstone Land

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.