Pullen Investment Management LLC Has $741,000 Position in Gladstone Land Co. (NASDAQ:LAND)

Pullen Investment Management LLC increased its stake in Gladstone Land Co. (NASDAQ:LAND) by 13.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 53,333 shares of the real estate investment trust’s stock after purchasing an additional 6,227 shares during the quarter. Pullen Investment Management LLC owned approximately 0.15% of Gladstone Land worth $741,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Marathon Capital Management lifted its holdings in Gladstone Land by 0.5% in the 2nd quarter. Marathon Capital Management now owns 154,271 shares of the real estate investment trust’s stock worth $2,112,000 after purchasing an additional 781 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Gladstone Land by 9.2% during the second quarter. The Manufacturers Life Insurance Company now owns 13,864 shares of the real estate investment trust’s stock worth $190,000 after buying an additional 1,172 shares during the last quarter. Hunter Perkins Capital Management LLC lifted its holdings in shares of Gladstone Land by 3.6% during the third quarter. Hunter Perkins Capital Management LLC now owns 37,450 shares of the real estate investment trust’s stock worth $521,000 after buying an additional 1,300 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of Gladstone Land by 8.7% during 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 during the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of Gladstone Land by 0.8% during the first quarter. Janney Montgomery Scott LLC now owns 246,125 shares of the real estate investment trust’s stock worth $3,283,000 after buying an additional 2,042 shares during the last quarter. 53.60% of the stock is currently owned by institutional investors and hedge funds.

Gladstone Land Stock Performance

Shares of NASDAQ LAND opened at $13.20 on Friday. The business has a fifty day simple moving average of $13.73 and a 200 day simple moving average of $13.63. The company has a current ratio of 4.43, a quick ratio of 4.43 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $473.09 million, a price-to-earnings ratio of -73.33, a PEG ratio of 4.28 and a beta of 1.07. Gladstone Land Co. has a one year low of $12.31 and a one year high of $15.36.

Gladstone Land Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 20th will be paid a $0.0467 dividend. The ex-dividend date is Friday, December 20th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.25%. Gladstone Land’s payout ratio is -311.09%.

Wall Street Analyst Weigh In

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

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.