Gladstone Land Corp (LAND) Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its position in shares of Gladstone Land Corp (NASDAQ:LAND) by 31.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 595,319 shares of the real estate investment trust’s stock after purchasing an additional 141,919 shares during the period. Renaissance Technologies LLC’s holdings in Gladstone Land were worth $7,543,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Royal Bank of Canada grew its holdings in shares of 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 acquiring an additional 12,009 shares in the last quarter. Teachers Insurance & Annuity Association of America grew its holdings in shares of Gladstone Land by 52.0% during the 2nd quarter. Teachers Insurance & Annuity Association of America now owns 17,897 shares of the real estate investment trust’s stock valued at $227,000 after acquiring an additional 6,122 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Gladstone Land by 7.8% during the 1st quarter. Northern Trust Corp now owns 61,918 shares of the real estate investment trust’s stock valued at $748,000 after acquiring an additional 4,494 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Gladstone Land during the 1st quarter valued at $1,639,000. Finally, Rhumbline Advisers purchased a new position in shares of Gladstone Land during the 2nd quarter valued at $174,000. Hedge funds and other institutional investors own 36.07% of the company’s stock.

Gladstone Land stock opened at $11.97 on Tuesday. 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 12 month low of $11.36 and a 12 month high of $14.29. The firm has a market cap of $198.31 million, a PE ratio of 21.54 and a beta of 1.17.

The business also recently declared a monthly dividend, which was paid on Friday, September 28th. Stockholders of record on Wednesday, September 19th were issued a dividend of $0.0444 per share. This represents a $0.53 annualized dividend and a dividend yield of 4.45%. The ex-dividend date was Tuesday, September 18th. Gladstone Land’s dividend payout ratio is currently 94.64%.

Separately, Zacks Investment Research cut shares of Gladstone Land from a “hold” rating to a “sell” rating in a report on Thursday, August 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $14.67.

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

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