Melia Wealth LLC Purchases New Shares in Gladstone Land Corporation $LAND

Melia Wealth LLC purchased a new position in shares of Gladstone Land Corporation (NASDAQ:LAND) during the second quarter, HoldingsChannel reports. The fund purchased 656,313 shares of the real estate investment trust’s stock, valued at approximately $10,147,000. Gladstone Land comprises 5.8% of Melia Wealth LLC’s investment portfolio, making the stock its 6th biggest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Optiver Holding B.V. grew its position in shares of Gladstone Land by 345.2% during the 1st quarter. Optiver Holding B.V. now owns 2,493 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 1,933 shares in the last quarter. Western Wealth Management LLC bought a new stake in shares of Gladstone Land in the first quarter valued at approximately $25,000. Burk Holdings LLC acquired a new stake in Gladstone Land during the second quarter worth approximately $26,000. Legal & General Group Plc bought a new position in Gladstone Land during the 2nd quarter worth $34,000. Finally, Parallel Advisors LLC increased its stake in Gladstone Land by 40.1% during the 3rd quarter. Parallel Advisors LLC now owns 4,840 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 1,386 shares during the period. Institutional investors and hedge funds own 53.60% of the company’s stock.

Wall Street Analysts Forecast Growth

LAND has been the subject of a number of recent analyst reports. Lucid Cap Mkts upgraded Gladstone Land from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 14th. Weiss Ratings restated a “sell (d+)” rating on shares of Gladstone Land in a research report on Friday, August 7th. Finally, Wall Street Zen downgraded Gladstone Land from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Gladstone Land has a consensus rating of “Hold” and an average target price of $10.00.

Gladstone Land Stock Performance

Shares of NASDAQ:LAND opened at $8.87 on Friday. The company’s 50 day simple moving average is $8.53 and its 200 day simple moving average is $9.69. The stock has a market capitalization of $382.63 million, a price-to-earnings ratio of -16.13 and a beta of 1.07. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.29 and a quick ratio of 1.29. Gladstone Land Corporation has a 1 year low of $7.92 and a 1 year high of $13.00.

Gladstone Land (NASDAQ:LAND) last announced its quarterly earnings data on Tuesday, August 11th. The real estate investment trust reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.06). Gladstone Land had a negative net margin of 7.31% and a negative return on equity of 0.96%. The firm had revenue of $12.69 million for the quarter, compared to analyst estimates of $12.28 million. As a group, research analysts predict that Gladstone Land Corporation will post 0.48 EPS for the current fiscal year.

Gladstone Land Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st will be issued a dividend of $0.0467 per share. The ex-dividend date of this dividend is Monday, September 21st. This represents a c) dividend on an annualized basis and a dividend yield of 6.3%. Gladstone Land’s payout ratio is -101.82%.

Gladstone Land Profile

Gladstone Land Corporation (NASDAQ: LAND) is a publicly traded real estate investment trust (REIT) that specializes in the acquisition and ownership of farmland in the United States. Established in 2013 and headquartered in Wayne, Pennsylvania, the company focuses on purchasing high-quality agricultural properties and leasing them to farmers under long‐term, triple‐net lease agreements. This model provides tenants with operational flexibility while generating stable, recurring rental income for investors.

The company’s portfolio spans several key agricultural regions across the country, including California, the Midwest, and parts of the Southeast.