Strs Ohio Raises Holdings in Gladstone Land Corp (LAND)
Strs Ohio raised its position in Gladstone Land Corp (NASDAQ:LAND) by 47.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,299 shares of the real estate investment trust’s stock after buying an additional 7,216 shares during the quarter. Strs Ohio’s holdings in Gladstone Land were worth $282,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Bank of New York Mellon Corp grew its stake in Gladstone Land by 70.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 80,239 shares of the real estate investment trust’s stock valued at $1,017,000 after purchasing an additional 33,119 shares in the last quarter. Rhumbline Advisers acquired a new stake in Gladstone Land during the 2nd quarter valued at approximately $174,000. Foster & Motley Inc. grew its stake in Gladstone Land by 90.1% during the 2nd quarter. Foster & Motley Inc. now owns 462,072 shares of the real estate investment trust’s stock valued at $5,854,000 after purchasing an additional 218,992 shares in the last quarter. Royal Bank of Canada grew its stake in Gladstone Land by 17.6% during the 1st quarter. Royal Bank of Canada now owns 80,129 shares of the real estate investment trust’s stock valued at $968,000 after purchasing an additional 12,009 shares in the last quarter. Finally, Millennium Management LLC grew its stake in Gladstone Land by 332.7% during the 1st quarter. Millennium Management LLC now owns 292,568 shares of the real estate investment trust’s stock valued at $3,534,000 after purchasing an additional 224,956 shares in the last quarter. Institutional investors own 36.07% of the company’s stock.
NASDAQ:LAND opened at $12.97 on Thursday. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.26 and a current ratio of 0.26. Gladstone Land Corp has a 52 week low of $11.36 and a 52 week high of $14.29. The company has a market cap of $208.92 million, a price-to-earnings ratio of 24.95 and a beta of 1.11.
Separately, Zacks Investment Research lowered Gladstone Land from a “hold” rating to a “sell” rating in a research note on Thursday, July 19th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Gladstone Land presently has an average rating of “Hold” and an average target price of $14.67.
Gladstone Land Company Profile
Gladstone Land is a publicly-traded real estate investment trust that invests in farmland and farm-related properties located in major agricultural markets in the U.S., which it leases to unrelated third-party farmers. The Company reports the current fair value of its farmland on a quarterly basis; as of June 30, 2018, the estimated net asset value of the Company was $13.51 per share.
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