Accordant Advisory Group Inc Boosts Holdings in Gladstone Land Co. (NASDAQ:LAND)

Accordant Advisory Group Inc increased its holdings in Gladstone Land Co. (NASDAQ:LAND) by 66.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 179,355 shares of the real estate investment trust’s stock after purchasing an additional 71,507 shares during the period. Gladstone Land accounts for 1.9% of Accordant Advisory Group Inc’s holdings, making the stock its 17th biggest holding. Accordant Advisory Group Inc owned 0.50% of Gladstone Land worth $1,946,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Larson Financial Group LLC increased its position in shares of Gladstone Land by 224.2% during the 3rd quarter. Larson Financial Group LLC now owns 1,929 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 1,334 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in Gladstone Land in the 3rd quarter valued at $50,000. BNP Paribas Financial Markets grew its position in Gladstone Land by 45.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,409 shares of the real estate investment trust’s stock valued at $159,000 after acquiring an additional 3,556 shares during the last quarter. SG Americas Securities LLC grew its position in Gladstone Land by 22.3% in the 4th quarter. SG Americas Securities LLC now owns 15,016 shares of the real estate investment trust’s stock valued at $163,000 after acquiring an additional 2,736 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. bought a new position in Gladstone Land in the 3rd quarter valued at $180,000. 53.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Alliance Global Partners downgraded Gladstone Land from a “buy” rating to a “neutral” rating and cut their price objective for the company from $16.00 to $14.50 in a research report on Friday, November 8th.

Gladstone Land Trading Down 0.5 %

Shares of NASDAQ LAND opened at $10.81 on Wednesday. Gladstone Land Co. has a twelve month low of $10.27 and a twelve month high of $15.36. The stock has a market capitalization of $391.21 million, a PE ratio of -41.58, a PEG ratio of 3.35 and a beta of 1.05. 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 stock has a fifty day simple moving average of $11.11 and a 200-day simple moving average of $12.84.

Gladstone Land (NASDAQ:LAND) last posted its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported ($0.16) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.29). Gladstone Land had a net margin of 16.45% and a return on equity of 2.05%. The company had revenue of $22.57 million for the quarter, compared to analysts’ expectations of $21.47 million. During the same period in the prior year, the company earned $0.16 earnings per share. On average, equities analysts forecast that Gladstone Land Co. will post 0.52 earnings per share for the current year.

Gladstone Land Increases Dividend

The business also recently announced a dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 27th will be issued a dividend of $0.0467 per share. This represents a yield of 5.33%. The ex-dividend date is Friday, January 24th. This is a boost from Gladstone Land’s previous dividend of $0.04. Gladstone Land’s dividend payout ratio is -215.38%.

Gladstone Land 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.