Moors & Cabot Inc. Acquires 10,420 Shares of Gladstone Land Corporation $LAND

Moors & Cabot Inc. lifted its holdings in Gladstone Land Corporation (NASDAQ:LAND) by 10.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 109,120 shares of the real estate investment trust’s stock after acquiring an additional 10,420 shares during the period. Moors & Cabot Inc.’s holdings in Gladstone Land were worth $1,110,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LAND. Nuveen LLC bought a new stake in Gladstone Land during the first quarter worth approximately $850,000. Jane Street Group LLC boosted its holdings in shares of Gladstone Land by 141.1% in the 1st quarter. Jane Street Group LLC now owns 108,843 shares of the real estate investment trust’s stock worth $1,145,000 after purchasing an additional 63,702 shares during the period. Invenomic Capital Management LP bought a new position in shares of Gladstone Land during the 1st quarter valued at approximately $638,000. Ballentine Partners LLC purchased a new stake in Gladstone Land during the 2nd quarter valued at $405,000. Finally, Acadian Asset Management LLC purchased a new stake in Gladstone Land during the 1st quarter valued at $273,000. Hedge funds and other institutional investors own 53.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Gladstone Land in a research note on Wednesday, October 8th. Zacks Research raised shares of Gladstone Land from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 14th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $14.50.

Gladstone Land Trading Up 1.0%

LAND opened at $9.33 on Friday. The company has a market capitalization of $337.61 million, a P/E ratio of -21.20, a PEG ratio of 6.75 and a beta of 1.14. The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 0.74. Gladstone Land Corporation has a 52 week low of $8.47 and a 52 week high of $13.73. The stock’s fifty day moving average is $9.11 and its two-hundred day moving average is $9.55.

Gladstone Land (NASDAQ:LAND) last released its quarterly earnings data on Wednesday, November 5th. The real estate investment trust reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.07. Gladstone Land had a net margin of 10.69% and a return on equity of 1.14%. The company had revenue of $17.79 million during the quarter, compared to analyst estimates of $15.08 million. Analysts forecast that Gladstone Land Corporation will post 0.52 earnings per share for the current year.

Gladstone Land Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd will be given a $0.0467 dividend. This represents a c) annualized dividend and a dividend yield of 6.0%. The ex-dividend date of this dividend is Monday, December 22nd. Gladstone Land’s payout ratio is presently -127.27%.

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.