Bowen Hanes & Co. Inc. Cuts Stock Position in Gladstone Land Co. (NASDAQ:LAND)

Bowen Hanes & Co. Inc. lessened its stake in Gladstone Land Co. (NASDAQ:LAND) by 47.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 350,000 shares of the real estate investment trust’s stock after selling 310,000 shares during the quarter. Bowen Hanes & Co. Inc. owned approximately 0.97% of Gladstone Land worth $3,798,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its holdings in shares of Gladstone Land by 1.5% during the third quarter. Geode Capital Management LLC now owns 900,632 shares of the real estate investment trust’s stock worth $12,521,000 after buying an additional 13,217 shares in the last quarter. State Street Corp grew its holdings in shares of Gladstone Land by 2.1% during the third quarter. State Street Corp now owns 795,775 shares of the real estate investment trust’s stock worth $11,061,000 after buying an additional 16,079 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of 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 in the last quarter. Accordant Advisory Group Inc grew its holdings in shares of Gladstone Land by 66.3% during the fourth quarter. Accordant Advisory Group Inc now owns 179,355 shares of the real estate investment trust’s stock worth $1,946,000 after buying an additional 71,507 shares in the last quarter. Finally, Southern Style Financial Inc. purchased a new stake in shares of Gladstone Land during the fourth quarter worth $1,893,000. Hedge funds and other institutional investors own 53.60% of the company’s stock.

Gladstone Land Trading Down 1.3 %

Shares of LAND stock opened at $11.02 on Thursday. The company’s 50-day moving average price is $11.05 and its 200-day moving average price is $12.17. The company has a current ratio of 0.99, a quick ratio of 0.70 and a debt-to-equity ratio of 0.77. The stock has a market cap of $398.76 million, a price-to-earnings ratio of -38.00, a PEG ratio of 3.74 and a beta of 1.11. Gladstone Land Co. has a twelve month low of $10.27 and a twelve month high of $15.36.

Gladstone Land (NASDAQ:LAND) last announced 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 for the quarter, compared to analysts’ expectations of $20.45 million. Gladstone Land had a net margin of 15.59% and a return on equity of 1.89%. As a group, equities analysts predict that Gladstone Land Co. will post 0.52 earnings per share for the current year.

Gladstone Land Increases Dividend

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

Wall Street Analyst Weigh In

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

Gladstone Land 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.