Onyx Bridge Wealth Group LLC Decreases Stake in Gladstone Land Co. (NASDAQ:LAND)

Onyx Bridge Wealth Group LLC cut its position in Gladstone Land Co. (NASDAQ:LAND) by 6.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,121 shares of the real estate investment trust’s stock after selling 888 shares during the period. Onyx Bridge Wealth Group LLC’s holdings in Gladstone Land were worth $182,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of LAND. Signaturefd LLC increased its holdings in Gladstone Land by 3,910.3% in the second 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 last quarter. M&G Plc acquired a new stake in shares of Gladstone Land during the 1st quarter worth about $138,000. LRI Investments LLC purchased a new stake in Gladstone Land during the first quarter worth approximately $149,000. SG Americas Securities LLC boosted its holdings in Gladstone Land by 41.0% in the third quarter. SG Americas Securities LLC now owns 12,280 shares of the real estate investment trust’s stock valued at $171,000 after purchasing an additional 3,572 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Gladstone Land by 9.2% in the second quarter. The Manufacturers Life Insurance Company now owns 13,864 shares of the real estate investment trust’s stock valued at $190,000 after purchasing an additional 1,172 shares during the last quarter. 53.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Maxim Group downgraded shares of Gladstone Land from a “buy” rating to a “hold” rating in a research report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $16.00.

Gladstone Land Stock Down 0.3 %

Shares of NASDAQ LAND opened at $13.50 on Friday. The business has a 50-day moving average price of $13.77 and a 200 day moving average price of $13.62. The stock has a market cap of $483.81 million, a PE ratio of 225.00, a price-to-earnings-growth ratio of 4.37 and a beta of 1.07. The company has a quick ratio of 4.43, a current ratio of 4.43 and a debt-to-equity ratio of 0.78. Gladstone Land Co. has a 52-week low of $12.31 and a 52-week high of $15.36.

Gladstone Land Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 20th will be given a dividend of $0.0467 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.15%. Gladstone Land’s dividend payout ratio (DPR) is presently 933.33%.

Gladstone Land Company Profile

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.