KLP Kapitalforvaltning AS Takes $62,000 Position in Gladstone Land Co. (NASDAQ:LAND)

KLP Kapitalforvaltning AS bought a new stake in shares of Gladstone Land Co. (NASDAQ:LAND) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 5,700 shares of the real estate investment trust’s stock, valued at approximately $62,000.

A number of other institutional investors have also recently added to or reduced their stakes in LAND. Hager Investment Management Services LLC acquired a new position in shares of Gladstone Land during the fourth quarter worth about $27,000. AlphaQuest LLC boosted its stake in shares of Gladstone Land by 63.2% in the fourth quarter. AlphaQuest LLC now owns 5,841 shares of the real estate investment trust’s stock valued at $63,000 after purchasing an additional 2,261 shares during the period. Entropy Technologies LP acquired a new stake in Gladstone Land during the 4th quarter valued at $118,000. Fiduciary Group LLC purchased a new stake in Gladstone Land during the 4th quarter worth $123,000. Finally, Quantbot Technologies LP increased its stake in Gladstone Land by 258.1% during the 4th quarter. Quantbot Technologies LP now owns 12,581 shares of the real estate investment trust’s stock worth $137,000 after buying an additional 9,068 shares during the period. 53.60% of the stock is owned by hedge funds and other institutional investors.

Gladstone Land Stock Performance

LAND stock opened at $9.18 on Friday. The stock’s 50 day simple moving average is $10.78 and its 200 day simple moving average is $11.56. Gladstone Land Co. has a 12-month low of $8.66 and a 12-month high of $15.36. The firm has a market cap of $332.18 million, a P/E ratio of -31.65, a P/E/G ratio of 3.74 and a beta of 1.15. The company has a current ratio of 0.99, a quick ratio of 0.70 and a debt-to-equity ratio of 0.77.

Gladstone Land (NASDAQ:LAND) last released its 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. Gladstone Land had a net margin of 15.59% and a return on equity of 1.89%. The firm had revenue of $21.10 million during the quarter, compared to analyst estimates of $20.45 million. As a group, equities research analysts predict that Gladstone Land Co. will post 0.52 EPS for the current year.

Gladstone Land Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 21st will be given a $0.0467 dividend. This represents a $0.56 annualized dividend and a yield of 6.10%. The ex-dividend date of this dividend is Monday, April 21st. Gladstone Land’s dividend payout ratio is presently -193.10%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Gladstone Land

In other Gladstone Land news, Director Anthony W. Parker sold 6,601 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $11.02, for a total value of $72,743.02. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 7.20% of the stock is currently owned by company 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.