Hunter Perkins Capital Management LLC Boosts Stake in Gladstone Land Co. (NASDAQ:LAND)

Hunter Perkins Capital Management LLC raised its holdings in Gladstone Land Co. (NASDAQ:LAND) by 3.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 37,450 shares of the real estate investment trust’s stock after acquiring an additional 1,300 shares during the period. Hunter Perkins Capital Management LLC owned approximately 0.10% of Gladstone Land worth $521,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of LAND. Tidal Investments LLC acquired a new stake in Gladstone Land in the 1st quarter valued at approximately $652,000. GSA Capital Partners LLP increased its position in shares of Gladstone Land by 216.8% during the first quarter. GSA Capital Partners LLP now owns 70,383 shares of the real estate investment trust’s stock worth $939,000 after acquiring an additional 48,167 shares during the period. Pullen Investment Management LLC purchased a new stake in shares of Gladstone Land during the first quarter worth $617,000. State Board of Administration of Florida Retirement System purchased a new stake in shares of Gladstone Land during the first quarter worth $213,000. Finally, Trueblood Wealth Management LLC purchased a new stake in shares of Gladstone Land during the second quarter worth $192,000. Institutional investors and hedge funds own 53.60% of the company’s stock.

Analyst Ratings Changes

Separately, Maxim Group downgraded shares of 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 issued a buy rating to the stock. According to data from MarketBeat.com, Gladstone Land has an average rating of “Moderate Buy” and an average target price of $16.00.

Gladstone Land Stock Up 0.5 %

Gladstone Land stock traded up $0.07 during midday trading on Wednesday, hitting $13.62. 87,330 shares of the stock were exchanged, compared to its average volume of 180,072. Gladstone Land Co. has a 1 year low of $12.31 and a 1 year high of $15.36. The firm has a market cap of $488.11 million, a P/E ratio of 227.00, a P/E/G ratio of 4.37 and a beta of 1.07. The company has a debt-to-equity ratio of 0.78, a current ratio of 4.43 and a quick ratio of 4.43. The company has a 50 day moving average price of $13.79 and a two-hundred day moving average price of $13.61.

Gladstone Land Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 20th will be given a $0.0467 dividend. This represents a $0.56 annualized dividend and a dividend yield of 4.11%. The ex-dividend date of this dividend is Friday, December 20th. Gladstone Land’s payout ratio is currently 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.