Foresight Wealth Management LLC raised its stake in Gladstone Land Corp (NASDAQ:LAND) by 17.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 218,704 shares of the real estate investment trust’s stock after purchasing an additional 32,700 shares during the period. Gladstone Land accounts for approximately 2.4% of Foresight Wealth Management LLC’s investment portfolio, making the stock its 11th biggest position. Foresight Wealth Management LLC’s holdings in Gladstone Land were worth $2,767,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its holdings in shares of Gladstone Land by 5.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 84,389 shares of the real estate investment trust’s stock valued at $1,042,000 after buying an additional 4,150 shares during the period. BlackRock Inc. grew its stake in Gladstone Land by 3.7% in the 3rd quarter. BlackRock Inc. now owns 673,628 shares of the real estate investment trust’s stock valued at $8,312,000 after buying an additional 24,065 shares during the last quarter. Morgan Stanley grew its stake in Gladstone Land by 3.9% in the 3rd quarter. Morgan Stanley now owns 247,517 shares of the real estate investment trust’s stock valued at $3,054,000 after buying an additional 9,358 shares during the last quarter. Vanguard Group Inc. grew its stake in Gladstone Land by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 600,729 shares of the real estate investment trust’s stock valued at $7,413,000 after buying an additional 5,735 shares during the last quarter. Finally, Vanguard Group Inc grew its stake in Gladstone Land by 1.0% in the 3rd quarter. Vanguard Group Inc now owns 600,729 shares of the real estate investment trust’s stock valued at $7,413,000 after buying an additional 5,735 shares during the last quarter. Hedge funds and other institutional investors own 31.14% of the company’s stock.

In related news, CEO David Gladstone acquired 100,000 shares of Gladstone Land stock in a transaction dated Friday, March 15th. The stock was bought at an average price of $12.00 per share, with a total value of $1,200,000.00. Following the transaction, the chief executive officer now directly owns 2,015,300 shares in the company, valued at approximately $24,183,600. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 12.41% of the company’s stock.

Shares of NASDAQ:LAND traded down $0.02 during midday trading on Wednesday, reaching $12.61. 121 shares of the company’s stock were exchanged, compared to its average volume of 68,268. The company has a market capitalization of $232.78 million, a price-to-earnings ratio of 24.75 and a beta of 0.97. Gladstone Land Corp has a 12 month low of $11.12 and a 12 month high of $13.85. The company has a debt-to-equity ratio of 1.71, a quick ratio of 3.44 and a current ratio of 3.44.

Gladstone Land (NASDAQ:LAND) last released its quarterly earnings data on Tuesday, May 7th. The real estate investment trust reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.15). The business had revenue of $7.83 million for the quarter. Gladstone Land had a return on equity of 1.73% and a net margin of 8.09%. Sell-side analysts forecast that Gladstone Land Corp will post 0.5 EPS for the current year.

The business also recently disclosed a monthly dividend, which will be paid on Friday, May 31st. Stockholders of record on Wednesday, May 22nd will be given a dividend of $0.0445 per share. This represents a $0.53 annualized dividend and a dividend yield of 4.23%. The ex-dividend date of this dividend is Tuesday, May 21st. Gladstone Land’s dividend payout ratio (DPR) is 103.92%.

LAND has been the subject of a number of recent analyst reports. ValuEngine downgraded shares of Gladstone Land from a “buy” rating to a “hold” rating in a research report on Tuesday, January 15th. Zacks Investment Research raised shares of Gladstone Land from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research report on Wednesday, January 16th. Finally, Maxim Group reissued a “buy” rating and issued a $15.00 price target on shares of Gladstone Land in a research report on Thursday, February 28th.

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About Gladstone Land

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 farmer-tenants. The Company reports the current fair value of its farmland on a quarterly basis; as of December 31, 2018, its estimated net asset value was $12.88 per share.

Read More: Special Dividends

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Institutional Ownership by Quarter for Gladstone Land (NASDAQ:LAND)

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