Anthony W. Parker Sells 6,601 Shares of Gladstone Land Co. (NASDAQ:LAND) Stock

Gladstone Land Co. (NASDAQ:LAND) Director Anthony W. Parker sold 6,601 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $11.02, for a total transaction of $72,743.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Gladstone Land Price Performance

NASDAQ:LAND traded up $0.25 during trading hours on Friday, hitting $10.82. The company’s stock had a trading volume of 500,985 shares, compared to its average volume of 382,468. Gladstone Land Co. has a 52-week low of $10.27 and a 52-week high of $15.36. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.70 and a current ratio of 0.99. The business’s 50-day moving average is $11.05 and its two-hundred day moving average is $12.16. The company has a market capitalization of $391.52 million, a PE ratio of -37.31, a PEG ratio of 3.74 and a beta of 1.11.

Gladstone Land (NASDAQ:LAND) last announced its quarterly earnings results on Wednesday, February 19th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.19. The business had revenue of $21.10 million during the quarter, compared to the consensus estimate of $20.45 million. Gladstone Land had a net margin of 15.59% and a return on equity of 1.89%. As a group, research analysts anticipate that Gladstone Land Co. will post 0.52 EPS for the current fiscal year.

Gladstone Land Increases Dividend

The company also recently declared a dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 27th were paid a dividend of $0.0467 per share. This is a positive change from Gladstone Land’s previous dividend of $0.04. The ex-dividend date was Friday, January 24th. This represents a dividend yield of 5.33%. Gladstone Land’s payout ratio is -193.10%.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Gladstone Land from a “hold” rating to a “sell” rating in a report on Wednesday, March 5th.

Hedge Funds Weigh In On Gladstone Land

Several hedge funds have recently bought and sold shares of the company. Millennium Management LLC purchased a new stake in Gladstone Land during the fourth quarter worth $2,051,000. Southern Style Financial Inc. purchased a new stake in shares of Gladstone Land in the 4th quarter worth about $1,893,000. Renaissance Technologies LLC boosted its position in shares of Gladstone Land by 87.5% in the 4th quarter. Renaissance Technologies LLC now owns 245,600 shares of the real estate investment trust’s stock worth $2,665,000 after buying an additional 114,600 shares in the last quarter. Accordant Advisory Group Inc grew its stake in Gladstone Land by 66.3% in the 4th quarter. Accordant Advisory Group Inc now owns 179,355 shares of the real estate investment trust’s stock valued at $1,946,000 after acquiring an additional 71,507 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Gladstone Land by 62.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 139,298 shares of the real estate investment trust’s stock valued at $1,936,000 after acquiring an additional 53,400 shares in the last quarter. 53.60% of the stock is owned by hedge funds and other institutional investors.

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.