Trueblood Wealth Management LLC Buys New Position in Gladstone Land Co. (NASDAQ:LAND)

Trueblood Wealth Management LLC purchased a new position in shares of Gladstone Land Co. (NASDAQ:LAND) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 14,000 shares of the real estate investment trust’s stock, valued at approximately $192,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tidal Investments LLC purchased a new position in shares of Gladstone Land during the first quarter worth about $652,000. Quadrant Capital Group LLC increased its holdings in shares of Gladstone Land by 250.2% in the fourth quarter. Quadrant Capital Group LLC now owns 2,290 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 1,636 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Gladstone Land during the fourth quarter worth approximately $173,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Gladstone Land by 17.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 22,922 shares of the real estate investment trust’s stock worth $306,000 after purchasing an additional 3,421 shares during the period. Finally, Victory Capital Management Inc. grew its position in Gladstone Land by 1.7% in the 4th quarter. Victory Capital Management Inc. now owns 48,661 shares of the real estate investment trust’s stock valued at $703,000 after buying an additional 824 shares during the last quarter. Hedge funds and other institutional investors own 53.60% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on LAND. Oppenheimer cut their price objective on shares of Gladstone Land from $20.00 to $16.00 and set an “outperform” rating for the company in a research report on Wednesday, May 15th. Maxim Group cut shares of Gladstone Land from a “buy” rating to a “hold” rating in a report on Monday, August 12th. Finally, Alliance Global Partners started coverage on Gladstone Land in a report on Tuesday, June 11th. They issued a “buy” rating and a $16.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $16.00.

Gladstone Land Stock Performance

Shares of LAND opened at $13.87 on Thursday. The company has a quick ratio of 4.43, a current ratio of 4.43 and a debt-to-equity ratio of 0.78. Gladstone Land Co. has a 52-week low of $12.31 and a 52-week high of $15.65. The company has a 50-day simple moving average of $14.06 and a 200-day simple moving average of $13.46. The company has a market capitalization of $497.07 million, a PE ratio of 231.17, a P/E/G ratio of 4.44 and a beta of 1.07.

Gladstone Land Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 20th will be given a dividend of $0.0467 per share. The ex-dividend date is Friday, September 20th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.04%. Gladstone Land’s payout ratio is 933.33%.

About Gladstone Land

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.