Intech Investment Management LLC Invests $160,000 in Gladstone Land Co. (NASDAQ:LAND)

Intech Investment Management LLC acquired a new stake in Gladstone Land Co. (NASDAQ:LAND) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 14,755 shares of the real estate investment trust’s stock, valued at approximately $160,000.

Several other hedge funds also recently bought and sold shares of the company. Larson Financial Group LLC boosted its holdings in Gladstone Land by 224.2% in the 3rd quarter. Larson Financial Group LLC now owns 1,929 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 1,334 shares during the period. Hager Investment Management Services LLC purchased a new stake in shares of Gladstone Land in the fourth quarter worth $27,000. AlphaQuest LLC boosted its stake in Gladstone Land by 63.2% during the fourth quarter. AlphaQuest LLC now owns 5,841 shares of the real estate investment trust’s stock valued at $63,000 after buying an additional 2,261 shares during the period. Entropy Technologies LP purchased a new position in Gladstone Land during the fourth quarter worth about $118,000. Finally, Catalyst Capital Advisors LLC increased its stake in Gladstone Land by 9.5% in the 4th quarter. Catalyst Capital Advisors LLC now owns 13,685 shares of the real estate investment trust’s stock worth $148,000 after acquiring an additional 1,192 shares during the last quarter. Hedge funds and other institutional investors own 53.60% of the company’s stock.

Gladstone Land Stock Performance

NASDAQ LAND opened at $10.42 on Friday. Gladstone Land Co. has a 52-week low of $10.27 and a 52-week high of $15.36. The company has a fifty day moving average of $11.04 and a 200-day moving average of $11.96. The company has a market capitalization of $377.05 million, a P/E ratio of -35.93, a P/E/G ratio of 3.74 and a beta of 1.11. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.70 and a current ratio of 0.99.

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

Gladstone Land Increases Dividend

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

Analysts Set New Price Targets

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

Insider Activity

In other news, Director Anthony W. Parker sold 6,601 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $11.02, for a total value of $72,743.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 7.20% of the stock is owned by corporate insiders.

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.