Gladstone Land Co. (NASDAQ:LAND) Director Sells $72,743.02 in Stock

Gladstone Land Co. (NASDAQ:LAND) Director Anthony W. Parker sold 6,601 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $11.02, for a total value of $72,743.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Gladstone Land Stock Performance

NASDAQ LAND opened at $10.82 on Friday. The company has a 50-day simple moving average of $11.04 and a two-hundred day simple moving average of $12.13. 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 12-month low of $10.27 and a 12-month high of $15.36. The firm has a market cap of $391.52 million, a price-to-earnings ratio of -37.31, a PEG ratio of 3.74 and a beta of 1.11.

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

Gladstone Land Increases Dividend

The company also recently announced a dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 27th were issued a dividend of $0.0467 per share. This is a positive change from Gladstone Land’s previous dividend of $0.04. This represents a dividend yield of 5.33%. The ex-dividend date was Friday, January 24th. Gladstone Land’s dividend payout ratio is currently -193.10%.

Institutional Trading of Gladstone Land

A number of institutional investors have recently modified their holdings of LAND. Larson Financial Group LLC boosted its holdings in shares of Gladstone Land by 224.2% during the third quarter. Larson Financial Group LLC now owns 1,929 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 1,334 shares during the period. Hager Investment Management Services LLC purchased a new stake in shares of Gladstone Land during the fourth quarter worth about $27,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Gladstone Land during the fourth quarter worth about $62,000. AlphaQuest LLC boosted its holdings in shares of Gladstone Land by 63.2% during the fourth quarter. AlphaQuest LLC now owns 5,841 shares of the real estate investment trust’s stock worth $63,000 after purchasing an additional 2,261 shares during the period. Finally, Entropy Technologies LP purchased a new stake in shares of Gladstone Land during the fourth quarter worth about $118,000. 53.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Gladstone Land from a “hold” rating to a “sell” rating in a research note on Wednesday, March 5th.

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.