Gladstone Land Co. (NASDAQ:LAND) Sees Large Growth in Short Interest

by · The Cerbat Gem

Gladstone Land Co. (NASDAQ:LAND – Get Free Report) was the target of a significant growth in short interest in the month of October. As of October 15th, there was short interest totalling 557,000 shares, a growth of 7.2% from the September 30th total of 519,700 shares. Based on an average daily trading volume, of 162,700 shares, the short-interest ratio is presently 3.4 days.

Institutional Trading of Gladstone Land

Large investors have recently modified their holdings of the company. Tidal Investments LLC purchased a new stake in shares of Gladstone Land in the first quarter valued at approximately $652,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Gladstone Land by 17.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 22,922 shares of the real estate investment trust’s stock valued at $306,000 after purchasing an additional 3,421 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Gladstone Land by 41.0% in the third quarter. SG Americas Securities LLC now owns 12,280 shares of the real estate investment trust’s stock valued at $171,000 after purchasing an additional 3,572 shares during the period. Creative Planning boosted its holdings in shares of Gladstone Land by 52.6% in the second quarter. Creative Planning now owns 20,321 shares of the real estate investment trust’s stock valued at $278,000 after purchasing an additional 7,003 shares during the period. Finally, Sei Investments Co. raised its stake in Gladstone Land by 8.7% in the second quarter. Sei Investments Co. now owns 22,512 shares of the real estate investment trust’s stock worth $308,000 after buying an additional 1,804 shares in the last quarter. Hedge funds and other institutional investors own 53.60% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Maxim Group lowered Gladstone Land from a “buy” rating to a “hold” rating in a research report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

Get Our Latest Analysis on LAND

Gladstone Land Trading Down 2.3 %

Shares of NASDAQ:LAND traded down $0.31 during trading hours on Thursday, hitting $13.03. 187,152 shares of the company’s stock traded hands, compared to its average volume of 179,583. The company has a debt-to-equity ratio of 0.78, a current ratio of 4.43 and a quick ratio of 4.43. The firm has a market capitalization of $466.97 million, a P/E ratio of 220.50, a price-to-earnings-growth ratio of 4.28 and a beta of 1.07. The business has a fifty day moving average price of $13.71 and a 200-day moving average price of $13.63. Gladstone Land has a 1 year low of $12.31 and a 1 year high of $15.36.

Gladstone Land Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 20th will be issued a $0.0467 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.30%. Gladstone Land’s payout ratio is 933.33%.

Gladstone Land Company Profile

(Get 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.

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