Gladstone Land Corp. (NASDAQ:LAND) declared a monthly dividend on Wednesday, October 12th. Shareholders of record on Friday, October 21st will be given a dividend of 0.0425 per share on Monday, October 31st. This represents a $0.51 annualized dividend and a yield of 4.90%. The ex-dividend date of this dividend is Wednesday, October 19th. This is an increase from Gladstone Land Corp.’s previous monthly dividend of $0.04.
Gladstone Land Corp. (NASDAQ:LAND) opened at 10.40 on Friday. The firm has a 50-day moving average price of $11.05 and a 200 day moving average price of $10.75. Gladstone Land Corp. has a 52-week low of $6.72 and a 52-week high of $12.00. The company has a market capitalization of $104.25 million, a P/E ratio of 108.33 and a beta of 0.96.
In related news, Director Caren D. Merrick acquired 4,432 shares of Gladstone Land Corp. stock in a transaction that occurred on Friday, August 26th. The stock was bought at an average price of $11.29 per share, with a total value of $50,037.28. Following the transaction, the director now directly owns 4,432 shares in the company, valued at $50,037.28. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 21.67% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Keeley Asset Management Corp raised its position in Gladstone Land Corp. by 3.2% in the second quarter. Keeley Asset Management Corp now owns 32,690 shares of the company’s stock worth $362,000 after buying an additional 1,009 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Gladstone Land Corp. by 7.0% in the second quarter. Dimensional Fund Advisors LP now owns 51,951 shares of the company’s stock valued at $575,000 after buying an additional 3,412 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Gladstone Land Corp. by 85.0% in the second quarter. Janney Montgomery Scott LLC now owns 30,980 shares of the company’s stock valued at $342,000 after buying an additional 14,230 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Gladstone Land Corp. by 8.2% in the second quarter. Vanguard Group Inc. now owns 227,884 shares of the company’s stock valued at $2,521,000 after buying an additional 17,218 shares in the last quarter. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Gladstone Land Corp. during the second quarter valued at approximately $219,000. 22.13% of the stock is owned by institutional investors.
A number of analysts recently issued reports on LAND shares. JMP Securities lowered Gladstone Land Corp. from an “outperform” rating to a “market perform” rating in a research note on Monday, August 15th. Zacks Investment Research upgraded Gladstone Land Corp. from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a research note on Thursday, July 7th.
Gladstone Land Corp. Company Profile
Gladstone Land Corporation is an externally-managed, agricultural real estate investment trust (REIT). The Company is engaged in the business of owning and leasing farmland. The Company’s segment is farmland and farm-related properties. The Company is engaged in leasing its farms to independent farming operations and corporate farming operations.
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