Gladstone Land (NASDAQ:LAND) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Gladstone Land Co. (NASDAQ:LAND)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $13.66 and traded as high as $13.73. Gladstone Land shares last traded at $13.38, with a volume of 327,968 shares changing hands.

Analysts Set New Price Targets

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

Gladstone Land Price Performance

The company has a market capitalization of $479.54 million, a PE ratio of -74.33, a P/E/G ratio of 4.28 and a beta of 1.08. The company has a debt-to-equity ratio of 0.78, a quick ratio of 4.43 and a current ratio of 4.43. The stock has a 50 day moving average price of $13.69 and a two-hundred day moving average price of $13.66.

Gladstone Land Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 20th will be given a dividend of $0.0467 per share. This represents a $0.56 annualized dividend and a yield of 4.19%. The ex-dividend date of this dividend is Friday, December 20th. Gladstone Land’s payout ratio is presently -311.09%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of LAND. Tidal Investments LLC acquired a new position in Gladstone Land during the first quarter worth $652,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Gladstone Land by 17.5% during the 1st 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 acquiring an additional 3,421 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Gladstone Land by 41.0% in the 3rd quarter. SG Americas Securities LLC now owns 12,280 shares of the real estate investment trust’s stock valued at $171,000 after acquiring an additional 3,572 shares in the last quarter. Creative Planning lifted its holdings in Gladstone Land by 52.6% in the 2nd quarter. Creative Planning now owns 20,321 shares of the real estate investment trust’s stock worth $278,000 after purchasing an additional 7,003 shares during the last quarter. Finally, Sei Investments Co. boosted its position in 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 purchasing an additional 1,804 shares during the period. Institutional investors and hedge funds own 53.60% of the company’s stock.

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.