Zacks Investment Research lowered shares of Gladstone Land (NASDAQ:LAND) from a buy rating to a hold rating in a research note released on Friday.

According to Zacks, “Gladstone Land Corporation is a real estate investment trust. The company acquires and leases farmland to corporate and independent farmers. Its properties are situated in California and Florida. Gladstone Land Corporation is based in McLean, Virginia. “

LAND has been the subject of a number of other reports. ValuEngine cut shares of Gladstone Land from a buy rating to a hold rating in a report on Tuesday, January 15th. JMP Securities cut shares of Gladstone Land from a market perform rating to an underperform rating in a report on Monday, January 14th.

Shares of NASDAQ:LAND opened at $12.08 on Friday. The firm has a market capitalization of $197.40 million, a P/E ratio of 21.57 and a beta of 0.94. Gladstone Land has a 1 year low of $11.12 and a 1 year high of $13.85. The company has a debt-to-equity ratio of 2.15, a current ratio of 0.46 and a quick ratio of 0.46.

The company also recently declared a monthly dividend, which will be paid on Thursday, February 28th. Shareholders of record on Wednesday, February 20th will be issued a dividend of $0.0445 per share. This represents a $0.53 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date of this dividend is Tuesday, February 19th. Gladstone Land’s dividend payout ratio (DPR) is 94.64%.

A number of hedge funds have recently added to or reduced their stakes in LAND. Bank of New York Mellon Corp boosted its holdings in Gladstone Land by 70.3% during the second quarter. Bank of New York Mellon Corp now owns 80,239 shares of the real estate investment trust’s stock valued at $1,017,000 after acquiring an additional 33,119 shares during the period. Schwab Charles Investment Management Inc. bought a new stake in Gladstone Land during the second quarter valued at about $315,000. BlackRock Inc. boosted its holdings in Gladstone Land by 1,121.7% during the second quarter. BlackRock Inc. now owns 649,563 shares of the real estate investment trust’s stock valued at $8,229,000 after acquiring an additional 596,396 shares during the period. Northern Trust Corp boosted its holdings in Gladstone Land by 175.6% during the second quarter. Northern Trust Corp now owns 170,666 shares of the real estate investment trust’s stock valued at $2,162,000 after acquiring an additional 108,748 shares during the period. Finally, Foster & Motley Inc. boosted its holdings in Gladstone Land by 1.0% during the third quarter. Foster & Motley Inc. now owns 466,707 shares of the real estate investment trust’s stock valued at $5,759,000 after acquiring an additional 4,635 shares during the period. Institutional investors own 32.66% of the company’s stock.

Gladstone Land Company Profile

Gladstone Land is a publicly-traded real estate investment trust that invests in farmland and farm-related properties located in major agricultural markets in the U.S., which it leases to unrelated third-party farmers. The Company reports the current fair value of its farmland on a quarterly basis; as of September 30, 2018, the estimated net asset value of the Company was $13.79 per share.

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