Gladstone Land Co. (NASDAQ:LAND) Stake Trimmed by Redmont Wealth Advisors LLC

Redmont Wealth Advisors LLC cut its position in shares of Gladstone Land Co. (NASDAQ:LAND) by 8.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,795 shares of the real estate investment trust’s stock after selling 3,080 shares during the quarter. Redmont Wealth Advisors LLC’s holdings in Gladstone Land were worth $484,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Signaturefd LLC boosted its position in shares of Gladstone Land by 3,910.3% in the second quarter. Signaturefd LLC now owns 3,128 shares of the real estate investment trust’s stock worth $43,000 after buying an additional 3,050 shares during the period. M&G Plc purchased a new stake in Gladstone Land in the 1st quarter worth about $138,000. LRI Investments LLC purchased a new stake in Gladstone Land in the 1st quarter worth about $149,000. SG Americas Securities LLC boosted its position in Gladstone Land by 41.0% during the 3rd quarter. SG Americas Securities LLC now owns 12,280 shares of the real estate investment trust’s stock worth $171,000 after acquiring an additional 3,572 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in Gladstone Land by 9.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,864 shares of the real estate investment trust’s stock valued at $190,000 after acquiring an additional 1,172 shares in the last quarter. 53.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Maxim Group lowered shares of Gladstone Land from a “buy” rating to a “hold” rating in a research report on Monday, August 12th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $16.00.

Gladstone Land Trading Down 0.8 %

NASDAQ LAND opened at $13.54 on Friday. The company has a current ratio of 4.43, a quick ratio of 4.43 and a debt-to-equity ratio of 0.78. Gladstone Land Co. has a 1-year low of $12.31 and a 1-year high of $15.36. The firm’s fifty day simple moving average is $13.77 and its 200-day simple moving average is $13.61. The company has a market capitalization of $485.25 million, a PE ratio of 225.67, a price-to-earnings-growth ratio of 4.37 and a beta of 1.07.

Gladstone Land Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 20th will be given a $0.0467 dividend. This represents a $0.56 annualized dividend and a yield of 4.14%. The ex-dividend date is Friday, December 20th. Gladstone Land’s payout ratio is currently 933.33%.

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.