Gladstone Land Corp. (LAND) Announces Dividend Increase – $0.04 Per Share
Gladstone Land Corp. (NASDAQ:LAND) announced a monthly dividend on Wednesday, October 12th. Stockholders 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 dividend yield of 4.91%. The ex-dividend date is Wednesday, October 19th. This is an increase from Gladstone Land Corp.’s previous monthly dividend of $0.04.
Gladstone Land Corp. (NASDAQ:LAND) traded up 0.58% during midday trading on Wednesday, hitting $10.39. The stock had a trading volume of 20,211 shares. The stock’s 50-day moving average is $11.09 and its 200-day moving average is $10.76. Gladstone Land Corp. has a one year low of $6.72 and a one year high of $12.00. The company has a market cap of $104.15 million, a P/E ratio of 108.23 and a beta of 0.96.
In related news, Director Caren D. Merrick acquired 4,432 shares of the company’s stock in a transaction that occurred on Friday, August 26th. The stock was purchased at an average price of $11.29 per share, for a total transaction of $50,037.28. Following the transaction, the director now directly owns 4,432 shares of the company’s stock, valued at approximately $50,037.28. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 21.67% of the stock is currently owned by corporate insiders.
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Hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. bought a new position in Gladstone Land Corp. during the second quarter valued at $219,000. Dimensional Fund Advisors LP boosted its position in 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 during the period. Vanguard Group Inc. boosted its position in 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 during the period. Janney Montgomery Scott LLC boosted its position in 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 during the period. Finally, Keeley Asset Management Corp boosted 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 valued at $362,000 after buying an additional 1,009 shares during the period. Hedge funds and other institutional investors own 22.13% of the company’s stock.
Several research analysts have recently commented on LAND shares. Zacks Investment Research downgraded Gladstone Land Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, July 6th. JMP Securities downgraded Gladstone Land Corp. from an “outperform” rating to a “market perform” rating in a report on Monday, August 15th.
About Gladstone Land Corp.
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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