Accordant Advisory Group Inc Sells 2,213 Shares of Gladstone Land Co. (NASDAQ:LAND)

Accordant Advisory Group Inc reduced its stake in Gladstone Land Co. (NASDAQ:LAND) by 2.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 107,848 shares of the real estate investment trust’s stock after selling 2,213 shares during the period. Gladstone Land accounts for approximately 1.2% of Accordant Advisory Group Inc’s holdings, making the stock its 26th largest holding. Accordant Advisory Group Inc’s holdings in Gladstone Land were worth $1,499,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Tidal Investments LLC acquired a new stake in Gladstone Land in the first quarter worth $652,000. Price T Rowe Associates Inc. MD increased its position in shares of Gladstone Land by 17.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,922 shares of the real estate investment trust’s stock valued at $306,000 after buying an additional 3,421 shares in the last quarter. Creative Planning raised its stake in Gladstone Land by 52.6% during the 2nd quarter. Creative Planning now owns 20,321 shares of the real estate investment trust’s stock worth $278,000 after buying an additional 7,003 shares during the period. Sei Investments Co. lifted its holdings in Gladstone Land by 8.7% during the second quarter. Sei Investments Co. now owns 22,512 shares of the real estate investment trust’s stock worth $308,000 after acquiring an additional 1,804 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in Gladstone Land by 17.3% in the first quarter. BNP Paribas Financial Markets now owns 16,402 shares of the real estate investment trust’s stock valued at $219,000 after acquiring an additional 2,420 shares during the period. 53.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Maxim Group lowered 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 assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $16.00.

Gladstone Land Price Performance

LAND stock opened at $13.27 on Wednesday. The stock has a 50-day moving average price of $13.76 and a two-hundred day moving average price of $13.63. Gladstone Land Co. has a 1 year low of $12.31 and a 1 year high of $15.36. The stock has a market cap of $475.57 million, a PE ratio of 221.17, a price-to-earnings-growth ratio of 4.37 and a beta of 1.07. 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 Announces Dividend

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 paid a $0.0467 dividend. This represents a $0.56 annualized dividend and a yield of 4.22%. The ex-dividend date is Friday, December 20th. Gladstone Land’s payout ratio is 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.