Gladstone Land Co. (NASDAQ:LAND) Shares Sold by Bowen Hanes & Co. Inc.

Bowen Hanes & Co. Inc. lowered its stake in Gladstone Land Co. (NASDAQ:LAND) by 47.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 350,000 shares of the real estate investment trust’s stock after selling 310,000 shares during the quarter. Bowen Hanes & Co. Inc.’s holdings in Gladstone Land were worth $3,798,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Larson Financial Group LLC lifted its position in Gladstone Land by 224.2% in the third quarter. Larson Financial Group LLC now owns 1,929 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 1,334 shares during the last quarter. Hager Investment Management Services LLC acquired a new position in Gladstone Land in the fourth quarter valued at about $27,000. AlphaQuest LLC lifted its position in 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 buying an additional 2,261 shares during the last quarter. Entropy Technologies LP acquired a new position in Gladstone Land in the fourth quarter valued at about $118,000. Finally, Catalyst Capital Advisors LLC increased its stake in Gladstone Land by 9.5% during the fourth quarter. Catalyst Capital Advisors LLC now owns 13,685 shares of the real estate investment trust’s stock worth $148,000 after purchasing an additional 1,192 shares during the period. Institutional investors and hedge funds own 53.60% of the company’s stock.

Gladstone Land Stock Down 1.3 %

Shares of NASDAQ:LAND opened at $11.02 on Thursday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.99 and a quick ratio of 0.70. The firm has a market capitalization of $398.76 million, a PE ratio of -38.00, a price-to-earnings-growth ratio of 3.74 and a beta of 1.11. The firm’s 50-day moving average is $11.05 and its two-hundred day moving average is $12.17. Gladstone Land Co. has a 1 year low of $10.27 and a 1 year high of $15.36.

Gladstone Land (NASDAQ:LAND) last issued its quarterly earnings results on Wednesday, February 19th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.19. The company had revenue of $21.10 million for the quarter, compared to analyst estimates of $20.45 million. Gladstone Land had a net margin of 15.59% and a return on equity of 1.89%. Analysts predict that Gladstone Land Co. will post 0.52 EPS for the current year.

Gladstone Land Increases Dividend

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

Wall Street Analysts Forecast Growth

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

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.