Kovack Advisors Inc. bought a new stake in shares of Gladstone Land Co. (NASDAQ:LAND – Get Rating) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 11,836 shares of the real estate investment trust’s stock, valued at approximately $217,000.
Several other hedge funds have also recently added to or reduced their stakes in LAND. Lazard Asset Management LLC bought a new stake in Gladstone Land during the 4th quarter valued at $27,000. MinichMacGregor Wealth Management LLC bought a new stake in shares of Gladstone Land in the 4th quarter worth $29,000. Belpointe Asset Management LLC bought a new stake in shares of Gladstone Land in the 4th quarter worth $30,000. Heritage Wealth Management LLC raised its stake in shares of Gladstone Land by 100.0% in the 4th quarter. Heritage Wealth Management LLC now owns 1,710 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 855 shares in the last quarter. Finally, Money Concepts Capital Corp bought a new stake in shares of Gladstone Land in the 4th quarter worth $33,000. Institutional investors own 45.31% of the company’s stock.
Gladstone Land Stock Performance
Shares of NASDAQ LAND opened at $17.24 on Friday. The company has a quick ratio of 4.00, a current ratio of 4.00 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $615.71 million, a price-to-earnings ratio of -36.68, a PEG ratio of 4.26 and a beta of 1.02. The stock’s fifty day simple moving average is $16.13 and its 200 day simple moving average is $17.52. Gladstone Land Co. has a 52-week low of $14.95 and a 52-week high of $27.45.
Gladstone Land Dividend Announcement
The business also recently announced a monthly dividend, which will be paid on Friday, June 30th. Investors of record on Wednesday, June 21st will be issued a $0.046 dividend. This represents a $0.55 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend is Tuesday, June 20th. Gladstone Land’s payout ratio is -117.02%.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on LAND shares. EF Hutton Acquisition Co. I dropped their price objective on Gladstone Land from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, February 23rd. Oppenheimer raised Gladstone Land from a “market perform” rating to an “outperform” rating and dropped their price objective for the stock from $25.00 to $22.00 in a research note on Wednesday, February 22nd. B. Riley dropped their price objective on Gladstone Land from $27.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, February 23rd. Finally, StockNews.com initiated coverage on Gladstone Land in a report on Thursday, May 18th. They issued a “sell” rating on the stock.
About Gladstone Land
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Gladstone Land Corp. is an agricultural real estate investment trust, which engages in the business of owning and leasing farmland. It also includes farm-related facilities, such as cooling facilities, packinghouses, processing facilities, and various storage facilities. The company was founded by David Gladstone on June 14, 1997 and is headquartered in McLean, VA.
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