Gilman Hill Asset Management LLC Decreases Stock Holdings in Gladstone Land Co. (NASDAQ:LAND)

Gilman Hill Asset Management LLC lessened its stake in Gladstone Land Co. (NASDAQ:LAND) by 16.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,000 shares of the real estate investment trust’s stock after selling 3,000 shares during the quarter. Gilman Hill Asset Management LLC’s holdings in Gladstone Land were worth $208,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its stake in shares of Gladstone Land by 17.3% during the first quarter. BNP Paribas Financial Markets now owns 16,402 shares of the real estate investment trust’s stock worth $219,000 after purchasing an additional 2,420 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in Gladstone Land by 0.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 246,125 shares of the real estate investment trust’s stock worth $3,283,000 after buying an additional 2,042 shares in the last quarter. Pullen Investment Management LLC acquired a new position in shares of Gladstone Land during the first quarter valued at approximately $617,000. GSA Capital Partners LLP lifted its position in shares of Gladstone Land by 216.8% in the first quarter. GSA Capital Partners LLP now owns 70,383 shares of the real estate investment trust’s stock valued at $939,000 after acquiring an additional 48,167 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System acquired a new stake in shares of Gladstone Land in the first quarter worth approximately $213,000. 53.60% of the stock is currently owned by institutional investors and hedge funds.

Gladstone Land Trading Up 0.4 %

LAND opened at $13.51 on Monday. The firm has a market capitalization of $484.17 million, a price-to-earnings ratio of 225.17, a price-to-earnings-growth ratio of 4.37 and a beta of 1.07. The company’s 50 day simple moving average is $13.80 and its two-hundred day simple moving average is $13.61. Gladstone Land Co. has a 1-year low of $12.31 and a 1-year high of $15.36. The company has a debt-to-equity ratio of 0.78, a current ratio of 4.43 and a quick ratio of 4.43.

Gladstone Land Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, November 29th. Shareholders of record on Wednesday, November 20th will be paid a $0.0467 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date of this dividend is Wednesday, November 20th. Gladstone Land’s dividend payout ratio (DPR) is presently 933.33%.

Wall Street Analyst Weigh In

Separately, Maxim Group downgraded Gladstone Land from a “buy” rating to a “hold” rating in a research note on Monday, August 12th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $16.00.

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.