Gladstone Land (NASDAQ:LAND) Share Price Breaks Above 200-Day Moving Average – Should You Sell?

Gladstone Land Co share price (NASDAQ:LAND – Get Free Report ) broke above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $13.58 and traded as high as $13.88. Gladstone Land shares last traded at $13.80 with a volume of 183,470 shares.

Analyst upgrades and downgrades

A number of research firms have recently commented on LAND. Maxim Group cut Gladstone Land from a “buy” rating to a “hold” rating in a research note on Monday, August 12th. Alliance Global Partners began coverage on shares of Gladstone Land in a research report on Tuesday, June 11th. They set a “buy” rating and a $16.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $16.00.

Read the latest stock report on Gladstone Land

Gladstone Land trading down 0.2%

The firm has a market cap of $494.56 million, a PE ratio of 230.00, a P/E/G ratio of 4.52 and a beta of 1.07. The firm has a 50-day simple moving average of $13.92 and a 200-day simple moving average of $13.58. The company has a current ratio of 4.43, a quick ratio of 4.43, and a debt-to-equity ratio of 0.78.

Gladstone Land announces dividend

The firm also recently disclosed a monthly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 20th were given a dividend of $0.0467 per share. The ex-dividend date of this dividend was Friday, September 20. This represents an annualized dividend of $0.56 and a dividend yield of 4.06%. Gladstone Land’s dividend payout ratio (DPR) is currently 933.33%.

Hedge funds weigh in on Gladstone’s turf

A number of hedge funds have recently bought and sold shares of the company. Signaturefd LLC boosted its holdings in shares of Gladstone Land by 3,910.3% during the 2nd quarter. Signaturefd LLC now owns 3,128 shares of the real estate investment trust’s stock valued at $43,000 after buying an additional 3,050 shares during the period respective. M&G Plc bought a new position in Gladstone Land in the first quarter valued at about $138,000. LRI Investments LLC purchased a new position in Gladstone Land in the 1st quarter worth about $149,000. Millburn Ridgefield Corp raised its stake in shares of Gladstone Land by 7.6% in the first quarter. Millburn Ridgefield Corp now owns 12,559 shares of the real estate investment trust’s stock valued at $168,000 after purchasing an additional 885 shares during the period. Finally, SG Americas Securities LLC boosted its position in shares of Gladstone Land by 41.0% during 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 which bought an additional 3,572 shares in the last quarter. Hedge funds and other institutional investors own 53.60% of the company’s shares.

About Gladstone Land

(Get a free report)

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 U.S. agricultural markets and leases its properties to unaffiliated third-party farmers. The company, which reports quarterly the total fair value of its farmland, currently owns 169 farms, comprised of approximately 116,000 acres in 15 different states and more than 45,000 acre-feet of water lying in California, valued at a total of approximately 1 .6 billion dollars.

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