Nomura Asset Management Co. Ltd. Acquires 2,000 Shares of Gladstone Land Co. (NASDAQ:LAND)

by · The Cerbat Gem

Nomura Asset Management Co. Ltd. grew its holdings in shares of Gladstone Land Co. (NASDAQ:LAND – Free Report) by 5.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 42,000 shares of the real estate investment trust’s stock after purchasing an additional 2,000 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Gladstone Land were worth $456,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Geode Capital Management LLC boosted its holdings in Gladstone Land by 1.5% in the third quarter. Geode Capital Management LLC now owns 900,632 shares of the real estate investment trust’s stock valued at $12,521,000 after acquiring an additional 13,217 shares during the last quarter. State Street Corp boosted its stake in shares of Gladstone Land by 2.1% in the 3rd quarter. State Street Corp now owns 795,775 shares of the real estate investment trust’s stock valued at $11,061,000 after purchasing an additional 16,079 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Gladstone Land by 15.2% during the fourth quarter. Bank of New York Mellon Corp now owns 201,093 shares of the real estate investment trust’s stock worth $2,182,000 after buying an additional 26,565 shares during the last quarter. Accordant Advisory Group Inc lifted its holdings in Gladstone Land by 66.3% in the fourth quarter. Accordant Advisory Group Inc now owns 179,355 shares of the real estate investment trust’s stock valued at $1,946,000 after buying an additional 71,507 shares during the period. Finally, Southern Style Financial Inc. bought a new stake in Gladstone Land during the fourth quarter valued at $1,893,000. Institutional investors and hedge funds own 53.60% of the company’s stock.

Gladstone Land Stock Performance

NASDAQ:LAND opened at $10.51 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.99 and a debt-to-equity ratio of 0.77. Gladstone Land Co. has a twelve month low of $10.13 and a twelve month high of $15.36. The company has a fifty day moving average of $11.02 and a 200-day moving average of $11.83. The firm has a market capitalization of $380.30 million, a P/E ratio of -36.24, a P/E/G ratio of 3.74 and a beta of 1.11.

Gladstone Land (NASDAQ:LAND – Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The real estate investment trust reported $0.09 earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.19. The firm 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, sell-side analysts anticipate that Gladstone Land Co. will post 0.52 EPS for the current year.

Gladstone Land Increases Dividend

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

Insider Buying and Selling at Gladstone Land

In related news, Director Anthony W. Parker sold 6,601 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $11.02, for a total value of $72,743.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 7.20% of the company’s stock.

Analyst Ratings Changes

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

Read Our Latest Stock Analysis on LAND

About Gladstone Land

(Free Report)

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.

Further Reading

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