Gladstone Land Corp (LAND) Declares $0.04 Monthly Dividend

Gladstone Land Corp (NASDAQ:LAND) announced a monthly dividend on Wednesday, January 10th, Wall Street Journal reports. Investors of record on Tuesday, March 20th will be paid a dividend of 0.0443 per share by the real estate investment trust on Friday, March 30th. This represents a $0.53 annualized dividend and a dividend yield of 3.82%. The ex-dividend date of this dividend is Monday, March 19th.

Shares of Gladstone Land (LAND) traded up $0.13 during trading hours on Wednesday, hitting $13.90. The company had a trading volume of 68,000 shares, compared to its average volume of 50,117. The stock has a market cap of $181.34, a P/E ratio of 695.00 and a beta of 0.99. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 2.48. Gladstone Land has a 1-year low of $10.77 and a 1-year high of $14.29.

An institutional investor recently raised its position in Gladstone Land stock. Northern Trust Corp boosted its holdings in shares of Gladstone Land Corp (NASDAQ:LAND) by 16.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 53,439 shares of the real estate investment trust’s stock after purchasing an additional 7,673 shares during the quarter. Northern Trust Corp owned approximately 0.45% of Gladstone Land worth $624,000 at the end of the most recent quarter. Institutional investors own 26.34% of the company’s stock.

Several brokerages recently commented on LAND. Ladenburg Thalmann Financial Services reiterated a “buy” rating and set a $15.00 target price (up from $14.00) on shares of Gladstone Land in a report on Friday, December 8th. Zacks Investment Research downgraded Gladstone Land from a “hold” rating to a “sell” rating in a report on Tuesday, November 21st. Finally, Hilliard Lyons downgraded Gladstone Land from a “buy” rating to a “neutral” rating in a report on Wednesday, November 8th.

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Gladstone Land Company Profile

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.

Dividend History for Gladstone Land (NASDAQ:LAND)

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