Gladstone Land Corp. (LAND) to Issue $0.04 Monthly Dividend
Gladstone Land Corp. (NASDAQ:LAND) announced a monthly dividend on Wednesday, October 12th. Shareholders of record on Thursday, November 17th will be paid a dividend of 0.0425 per share on Wednesday, November 30th. This represents a $0.51 annualized dividend and a yield of 4.91%. The ex-dividend date of this dividend is Tuesday, November 15th.
Shares of Gladstone Land Corp. (NASDAQ:LAND) traded up 0.58% during midday trading on Wednesday, reaching $10.39. 20,211 shares of the company’s stock traded hands. The firm has a market cap of $104.15 million, a PE ratio of 108.23 and a beta of 0.96. The stock has a 50-day moving average price of $11.09 and a 200 day moving average price of $10.76. Gladstone Land Corp. has a 12 month low of $6.72 and a 12 month high of $12.00.
Several research firms have recently commented on LAND. Zacks Investment Research downgraded shares of Gladstone Land Corp. from a “buy” rating to a “hold” rating in a research report on Saturday, August 6th. JMP Securities downgraded shares of Gladstone Land Corp. from an “outperform” rating to a “market perform” rating in a research report on Monday, August 15th.
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In other news, Director Caren D. Merrick acquired 4,432 shares of Gladstone Land Corp. stock in a transaction on Friday, August 26th. The stock was acquired at an average cost of $11.29 per share, with a total value of $50,037.28. Following the transaction, the director now owns 4,432 shares of the company’s stock, valued at approximately $50,037.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 21.67% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of the company. Keeley Asset Management Corp increased its stake in shares of 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 last quarter. 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 worth $575,000 after buying an additional 3,412 shares during the last quarter. 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 worth $342,000 after buying an additional 14,230 shares during the last quarter. 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 worth $2,521,000 after buying an additional 17,218 shares during the last quarter. Finally, JPMorgan Chase & Co. bought a new position in Gladstone Land Corp. during the second quarter worth $219,000. 22.13% of the stock is owned by institutional investors and hedge funds.
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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