State Board of Administration of Florida Retirement System Takes $354,000 Position in Gladstone Land Co. (NASDAQ:LAND)

State Board of Administration of Florida Retirement System purchased a new stake in shares of Gladstone Land Co. (NASDAQ:LANDGet 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

Shares of LAND stock opened at $20.74 on Monday. Gladstone Land Co. has a 1-year low of $17.28 and a 1-year high of $42.10. The stock’s 50-day moving average is $19.71 and its 200 day moving average is $22.98. The company has a market cap of $719.76 million, a P/E ratio of -62.85, a PEG ratio of 4.62 and a beta of 0.97. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.20 and a quick ratio of 3.20.

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

(Get Rating)

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.

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

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