Gladstone Land Co. (NASDAQ:LAND) Stake Lessened by Accordant Advisory Group Inc

Accordant Advisory Group Inc cut its holdings in Gladstone Land Co. (NASDAQ:LAND) by 2.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 107,848 shares of the real estate investment trust’s stock after selling 2,213 shares during the quarter. Gladstone Land comprises about 1.2% of Accordant Advisory Group Inc’s investment portfolio, making the stock its 26th biggest holding. Accordant Advisory Group Inc owned 0.30% of Gladstone Land worth $1,499,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Signaturefd LLC increased its position in Gladstone Land by 3,910.3% in the 2nd quarter. Signaturefd LLC now owns 3,128 shares of the real estate investment trust’s stock worth $43,000 after buying an additional 3,050 shares during the period. M&G Plc acquired a new position in Gladstone Land in the 1st quarter valued at approximately $138,000. LRI Investments LLC bought a new stake in shares of Gladstone Land in the 1st quarter worth approximately $149,000. SG Americas Securities LLC grew its holdings in shares of Gladstone Land by 41.0% during the 3rd quarter. SG Americas Securities LLC now owns 12,280 shares of the real estate investment trust’s stock worth $171,000 after purchasing an additional 3,572 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Gladstone Land by 9.2% during the second quarter. The Manufacturers Life Insurance Company now owns 13,864 shares of the real estate investment trust’s stock valued at $190,000 after purchasing an additional 1,172 shares during the period. 53.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Maxim Group downgraded shares of Gladstone Land from a “buy” rating to a “hold” rating in a report on Monday, August 12th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $16.00.

Gladstone Land Price Performance

LAND opened at $13.27 on Wednesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 4.43 and a quick ratio of 4.43. The stock has a market capitalization of $475.57 million, a P/E ratio of 221.17, a price-to-earnings-growth ratio of 4.37 and a beta of 1.07. The company’s 50 day simple moving average is $13.76 and its 200-day simple moving average is $13.63. Gladstone Land Co. has a one year low of $12.31 and a one year high of $15.36.

Gladstone Land Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 20th will be given a $0.0467 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.56 dividend on an annualized basis and a yield of 4.22%. Gladstone Land’s payout ratio is 933.33%.

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.