Gladstone Land Co. (NASDAQ:LAND) Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its holdings in Gladstone Land Co. (NASDAQ:LAND - Free Report) by 87.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 245,600 shares of the real estate investment trust's stock after purchasing an additional 114,600 shares during the quarter. Renaissance Technologies LLC owned about 0.68% of Gladstone Land worth $2,665,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Invesco Ltd. lifted its position in Gladstone Land by 1.9% in the fourth quarter. Invesco Ltd. now owns 59,866 shares of the real estate investment trust's stock valued at $650,000 after purchasing an additional 1,094 shares during the period. Rhumbline Advisers boosted its stake in shares of Gladstone Land by 1.9% in the fourth quarter. Rhumbline Advisers now owns 59,290 shares of the real estate investment trust's stock valued at $643,000 after buying an additional 1,130 shares in the last quarter. Catalyst Capital Advisors LLC grew its holdings in Gladstone Land by 9.5% during the fourth quarter. Catalyst Capital Advisors LLC now owns 13,685 shares of the real estate investment trust's stock worth $148,000 after acquiring an additional 1,192 shares during the period. Millburn Ridgefield Corp raised its position in Gladstone Land by 9.5% in the fourth quarter. Millburn Ridgefield Corp now owns 13,685 shares of the real estate investment trust's stock worth $148,000 after acquiring an additional 1,192 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its position in shares of Gladstone Land by 5.0% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 42,000 shares of the real estate investment trust's stock worth $456,000 after purchasing an additional 2,000 shares in the last quarter. 53.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Gladstone Land news, Director Anthony W. Parker sold 6,601 shares of the firm's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $11.02, for a total value of $72,743.02. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 7.20% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Gladstone Land from a "hold" rating to a "sell" rating in a report on Wednesday, March 5th.

Gladstone Land Trading Up 0.6 %

Shares of LAND stock traded up $0.06 on Tuesday, reaching $10.01. 154,281 shares of the stock were exchanged, compared to its average volume of 261,407. The company has a quick ratio of 0.70, a current ratio of 0.99 and a debt-to-equity ratio of 0.77. Gladstone Land Co. has a 1-year low of $8.66 and a 1-year high of $15.36. The firm has a 50 day moving average of $10.43 and a two-hundred day moving average of $11.23. The stock has a market cap of $362.03 million, a P/E ratio of -34.50, a price-to-earnings-growth ratio of 3.74 and a beta of 1.15.

Gladstone Land (NASDAQ:LAND - Get Free Report) last announced its earnings results on Wednesday, February 19th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.10) by $0.19. The business had revenue of $21.10 million for the quarter, compared to analyst estimates of $20.45 million. Gladstone Land had a return on equity of 1.89% and a net margin of 15.59%. On average, research analysts anticipate that Gladstone Land Co. will post 0.52 EPS for the current year.

Gladstone Land Dividend Announcement

The firm also recently declared a dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 22nd will be given a $0.0467 dividend. The ex-dividend date of this dividend is Monday, April 21st. This represents a dividend yield of 5.75%. Gladstone Land's payout ratio is currently -193.10%.

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.