Trueblood Wealth Management LLC Makes New Investment in Gladstone Land Co. (NASDAQ:LAND)

Trueblood Wealth Management LLC acquired a new stake in Gladstone Land Co. (NASDAQ:LAND) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 14,000 shares of the real estate investment trust’s stock, valued at approximately $192,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pullen Investment Management LLC lifted its holdings in Gladstone Land by 1.7% during the 2nd quarter. Pullen Investment Management LLC now owns 47,106 shares of the real estate investment trust’s stock worth $645,000 after buying an additional 803 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Gladstone Land by 1.7% in the fourth quarter. Victory Capital Management Inc. now owns 48,661 shares of the real estate investment trust’s stock valued at $703,000 after acquiring an additional 824 shares in the last quarter. Millburn Ridgefield Corp boosted its holdings in Gladstone Land by 7.6% in the first quarter. Millburn Ridgefield Corp now owns 12,559 shares of the real estate investment trust’s stock valued at $168,000 after purchasing an additional 885 shares during the period. Quadrant Capital Group LLC grew its stake in Gladstone Land by 250.2% during the 4th quarter. Quadrant Capital Group LLC now owns 2,290 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 1,636 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its stake in Gladstone Land by 4.7% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 37,600 shares of the real estate investment trust’s stock worth $543,000 after purchasing an additional 1,700 shares in the last quarter. Hedge funds and other institutional investors own 53.60% of the company’s stock.

Gladstone Land Stock Down 0.4 %

LAND stock opened at $13.87 on Thursday. The stock has a market cap of $497.07 million, a P/E ratio of 231.17, a PEG ratio of 4.44 and a beta of 1.07. The company has a current ratio of 4.43, a quick ratio of 4.43 and a debt-to-equity ratio of 0.78. Gladstone Land Co. has a twelve month low of $12.31 and a twelve month high of $15.65. The company’s 50 day moving average is $14.06 and its two-hundred day moving average is $13.46.

Gladstone Land Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on LAND shares. Alliance Global Partners initiated coverage on Gladstone Land in a research note on Tuesday, June 11th. They issued a “buy” rating and a $16.00 price objective for the company. Maxim Group downgraded shares of Gladstone Land from a “buy” rating to a “hold” rating in a research note on Monday, August 12th. Finally, Oppenheimer dropped their target price on Gladstone Land from $20.00 to $16.00 and set an “outperform” rating on the stock in a report on Wednesday, May 15th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $16.00.

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.