State Board of Administration of Florida Retirement System purchased a new stake in shares of Gladstone Land Co. (NASDAQ:LAND – Get Rating) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 15,962 shares of the real estate investment trust’s stock, valued at approximately $354,000.
Several other institutional investors have also recently made changes to their positions in the company. Capital Square LLC increased its stake in shares of Gladstone Land by 24.1% during the second quarter. Capital Square LLC now owns 16,607 shares of the real estate investment trust’s stock valued at $368,000 after buying an additional 3,222 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Gladstone Land during the second quarter valued at $52,000. AE Wealth Management LLC increased its stake in shares of Gladstone Land by 52.9% during the second quarter. AE Wealth Management LLC now owns 16,519 shares of the real estate investment trust’s stock valued at $366,000 after buying an additional 5,716 shares during the period. Carnegie Capital Asset Management LLC boosted its position in Gladstone Land by 12.5% during the second quarter. Carnegie Capital Asset Management LLC now owns 42,350 shares of the real estate investment trust’s stock valued at $938,000 after purchasing an additional 4,700 shares in the last quarter. Finally, Centaurus Financial Inc. boosted its position in Gladstone Land by 19.2% during the second quarter. Centaurus Financial Inc. now owns 6,200 shares of the real estate investment trust’s stock valued at $137,000 after purchasing an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 46.21% of the company’s stock.
Wall Street Analysts Forecast Growth
Separately, StockNews.com started coverage on Gladstone Land in a research report on Wednesday, October 12th. They set a “sell” rating on the stock.
Gladstone Land Price Performance
Gladstone Land Dividend Announcement
The business also recently disclosed a monthly dividend, which will be paid on Friday, December 30th. Investors of record on Tuesday, December 20th will be given a dividend of $0.0458 per share. This represents a $0.55 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date is Monday, December 19th. Gladstone Land’s payout ratio is currently -166.66%.
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 127 farms, comprised of approximately 94,000 acres in 13 different states, valued at approximately $1.0 billion.
- Get a free copy of the StockNews.com research report on Gladstone Land (LAND)
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