Gladstone Land Corporation Plans Monthly Dividend of $0.04 (LAND)
Gladstone Land Corporation (NASDAQ:LAND) declared a monthly dividend on Wednesday, October 11th, Wall Street Journal reports. Investors of record on Monday, November 20th will be given a dividend of 0.0441 per share by the real estate investment trust on Thursday, November 30th. This represents a $0.53 annualized dividend and a yield of 3.87%. The ex-dividend date is Friday, November 17th.
Gladstone Land Corporation (NASDAQ LAND) traded up 0.37% during trading on Wednesday, reaching $13.68. The company had a trading volume of 41,521 shares. The company has a 50-day moving average of $13.34 and a 200-day moving average of $12.01. Gladstone Land Corporation has a 52-week low of $9.70 and a 52-week high of $14.09. The firm has a market capitalization of $164.31 million, a P/E ratio of 297.39 and a beta of 1.00.
Gladstone Land Corporation (NASDAQ:LAND) last released its earnings results on Tuesday, August 8th. The real estate investment trust reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.04). The firm had revenue of $6.00 million during the quarter. Gladstone Land Corporation had a return on equity of 0.57% and a net margin of 2.58%. Analysts expect that Gladstone Land Corporation will post $0.06 EPS for the current fiscal year.
A hedge fund recently raised its stake in Gladstone Land Corporation stock. Northern Trust Corp grew its stake in shares of Gladstone Land Corporation (NASDAQ:LAND) by 16.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 53,439 shares of the real estate investment trust’s stock after acquiring an additional 7,673 shares during the period. Northern Trust Corp owned about 0.45% of Gladstone Land Corporation worth $624,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 21.11% of the company’s stock.
LAND has been the subject of a number of recent research reports. Zacks Investment Research upgraded Gladstone Land Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, September 23rd. Ladenburg Thalmann Financial Services reiterated a “buy” rating and set a $14.00 price objective (up previously from $13.00) on shares of Gladstone Land Corporation in a research report on Monday, September 18th. They noted that the move was a valuation call.
About Gladstone Land Corporation
Gladstone Land Corporation is an agricultural real estate investment trust (REIT). The Company is engaged in the business of owning and leasing farmland. The Company also owns various farm-related facilities, such as cooling facilities, buildings utilized for the storage and assembly of boxes for shipping produce (box barns), packinghouses, processing facilities and various storage facilities.
Receive News & Ratings for Gladstone Land Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gladstone Land Corporation and related companies with MarketBeat.com's FREE daily email newsletter.