Bard Associates Inc. Sells 10,615 Shares of Gladstone Land Co. (NASDAQ:LAND)

Bard Associates Inc. trimmed its holdings in shares of Gladstone Land Co. (NASDAQ:LAND) by 6.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 145,203 shares of the real estate investment trust’s stock after selling 10,615 shares during the quarter. Bard Associates Inc. owned 0.41% of Gladstone Land worth $2,018,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Signaturefd LLC lifted its holdings in Gladstone Land by 3,910.3% during the second quarter. Signaturefd LLC now owns 3,128 shares of the real estate investment trust’s stock worth $43,000 after buying an additional 3,050 shares during the period. Harbor Capital Advisors Inc. purchased a new position in Gladstone Land in the third quarter valued at about $50,000. M&G Plc bought a new position in Gladstone Land in the first quarter worth about $138,000. LRI Investments LLC purchased a new stake in shares of Gladstone Land during the first quarter valued at about $149,000. Finally, SG Americas Securities LLC boosted its holdings in shares of Gladstone Land by 41.0% in the 3rd quarter. SG Americas Securities LLC now owns 12,280 shares of the real estate investment trust’s stock valued at $171,000 after buying an additional 3,572 shares in the last quarter. Institutional investors own 53.60% of the company’s stock.

Analysts Set New Price Targets

LAND has been the subject of a number of analyst reports. Alliance Global Partners cut shares of Gladstone Land from a “buy” rating to a “neutral” rating and decreased their target price for the company from $16.00 to $14.50 in a research report on Friday, November 8th. Maxim Group lowered Gladstone Land from a “buy” rating to a “hold” rating in a research report on Monday, August 12th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $15.50.

Gladstone Land Stock Performance

Shares of Gladstone Land stock opened at $11.97 on Friday. Gladstone Land Co. has a one year low of $11.93 and a one year high of $15.36. 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 business’s 50 day moving average price is $13.61 and its 200 day moving average price is $13.66.

Gladstone Land Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 20th will be given a $0.0467 dividend. The ex-dividend date is Friday, December 20th. This represents a $0.56 annualized dividend and a yield of 4.68%. Gladstone Land’s dividend payout ratio (DPR) is -215.38%.

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.