Redmont Wealth Advisors LLC Has $647,000 Position in Gladstone Land Co. (NASDAQ:LAND)

Redmont Wealth Advisors LLC lifted its holdings in Gladstone Land Co. (NASDAQ:LAND) by 35.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 44,797 shares of the real estate investment trust’s stock after buying an additional 11,635 shares during the period. Redmont Wealth Advisors LLC’s holdings in Gladstone Land were worth $647,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LAND. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Gladstone Land by 12.7% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 40,139 shares of the real estate investment trust’s stock valued at $580,000 after buying an additional 4,523 shares during the period. Cherry Creek Investment Advisors Inc. lifted its position in shares of Gladstone Land by 4.7% during the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 68,007 shares of the real estate investment trust’s stock valued at $983,000 after acquiring an additional 3,075 shares during the period. International Assets Investment Management LLC bought a new position in Gladstone Land during the fourth quarter worth $727,000. Hunter Perkins Capital Management LLC grew its holdings in Gladstone Land by 4.5% in the fourth quarter. Hunter Perkins Capital Management LLC now owns 39,725 shares of the real estate investment trust’s stock worth $574,000 after purchasing an additional 1,700 shares during the period. Finally, Mutual Advisors LLC bought a new stake in Gladstone Land in the fourth quarter valued at $211,000. 53.60% of the stock is owned by institutional investors and hedge funds.

Gladstone Land Stock Up 1.5 %

Shares of LAND stock traded up $0.18 on Friday, reaching $12.57. 115,719 shares of the company were exchanged, compared to its average volume of 206,096. Gladstone Land Co. has a one year low of $12.31 and a one year high of $17.48. The company has a market cap of $450.48 million, a price-to-earnings ratio of -46.48, a PEG ratio of 3.18 and a beta of 1.00. The company has a 50-day moving average of $13.08 and a 200-day moving average of $13.79. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.80 and a quick ratio of 1.80.

Gladstone Land Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, June 28th. Stockholders of record on Wednesday, June 19th will be given a dividend of $0.0466 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date of this dividend is Tuesday, June 18th. Gladstone Land’s payout ratio is -203.70%.

About Gladstone Land

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.