Cambridge Investment Research Advisors Inc. Cuts Stock Holdings in Gladstone Land Corp (NASDAQ:LAND)

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Cambridge Investment Research Advisors Inc. lowered its stake in shares of Gladstone Land Corp (NASDAQ:LAND) by 5.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,957 shares of the real estate investment trust’s stock after selling 1,773 shares during the quarter. Cambridge Investment Research Advisors Inc. owned 0.16% of Gladstone Land worth $380,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Cahill Financial Advisors Inc. increased its position in shares of Gladstone Land by 6.3% during the second quarter. Cahill Financial Advisors Inc. now owns 15,004 shares of the real estate investment trust’s stock worth $173,000 after acquiring an additional 893 shares during the period. JPMorgan Chase & Co. increased its position in shares of Gladstone Land by 27.5% during the second quarter. JPMorgan Chase & Co. now owns 4,481 shares of the real estate investment trust’s stock worth $51,000 after acquiring an additional 967 shares during the period. Strs Ohio increased its position in shares of Gladstone Land by 4.5% during the second quarter. Strs Ohio now owns 23,714 shares of the real estate investment trust’s stock worth $273,000 after acquiring an additional 1,022 shares during the period. Wells Fargo & Company MN grew its stake in shares of Gladstone Land by 0.5% during the second quarter. Wells Fargo & Company MN now owns 260,482 shares of the real estate investment trust’s stock worth $3,003,000 after purchasing an additional 1,293 shares in the last quarter. Finally, Golden State Wealth Management LLC grew its stake in shares of Gladstone Land by 8.7% during the second quarter. Golden State Wealth Management LLC now owns 19,436 shares of the real estate investment trust’s stock worth $224,000 after purchasing an additional 1,550 shares in the last quarter. 30.10% of the stock is currently owned by institutional investors and hedge funds.

Shares of LAND stock opened at $11.87 on Friday. The company has a current ratio of 3.14, a quick ratio of 3.14 and a debt-to-equity ratio of 1.51. The firm has a fifty day moving average price of $11.78 and a 200 day moving average price of $12.02. The company has a market cap of $248.89 million, a P/E ratio of 23.27 and a beta of 0.78. Gladstone Land Corp has a 12 month low of $11.12 and a 12 month high of $13.85.

Gladstone Land (NASDAQ:LAND) last issued its earnings results on Wednesday, August 7th. The real estate investment trust reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.16). Gladstone Land had a return on equity of 2.59% and a net margin of 15.13%. The firm had revenue of $8.36 million for the quarter. On average, equities analysts forecast that Gladstone Land Corp will post 0.49 EPS for the current year.

The business also recently disclosed a monthly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 22nd will be paid a $0.045 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $0.54 annualized dividend and a yield of 4.55%. Gladstone Land’s dividend payout ratio is presently 103.92%.

In related news, CEO David Gladstone acquired 135,739 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was bought at an average price of $11.86 per share, for a total transaction of $1,609,864.54. Following the completion of the purchase, the chief executive officer now directly owns 2,224,324 shares of the company’s stock, valued at approximately $26,380,482.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 12.41% of the company’s stock.

LAND has been the subject of a number of analyst reports. ValuEngine upgraded shares of Gladstone Land from a “hold” rating to a “buy” rating in a research note on Tuesday, August 6th. Aegis initiated coverage on shares of Gladstone Land in a research note on Monday, October 7th. They set a “buy” rating and a $13.50 target price for the company. Zacks Investment Research downgraded shares of Gladstone Land from a “hold” rating to a “sell” rating in a research note on Tuesday, September 17th. Finally, Maxim Group set a $15.00 target price on shares of Gladstone Land and gave the stock a “buy” rating in a research note on Friday, August 9th. Two research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $14.17.

About Gladstone Land

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 farmer-tenants. The Company reports the current fair value of its farmland on a quarterly basis; as of December 31, 2018, its estimated net asset value was $12.88 per share.

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Institutional Ownership by Quarter for Gladstone Land (NASDAQ:LAND)

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