Gladstone Land Corp. (LAND) Reaches New 12-Month High at $11.60
Gladstone Land Corp. (NASDAQ:LAND) hit a new 52-week high on Friday . The stock traded as high as $11.60 and last traded at $11.46, with a volume of 31,024 shares changing hands. The stock had previously closed at $11.46.
Separately, Zacks Investment Research raised shares of Gladstone Land Corp. from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research report on Thursday, July 7th.
The stock has a 50 day moving average of $11.18 and a 200 day moving average of $9.94. The company has a market cap of $115.48 million and a P/E ratio of 119.9990.
The business also recently disclosed a monthly dividend, which will be paid on Wednesday, August 31st. Shareholders of record on Monday, August 22nd will be given a $0.0413 dividend. The ex-dividend date of this dividend is Thursday, August 18th. This represents a $0.50 annualized dividend and a yield of 4.32%.
An institutional investor recently raised its position in Gladstone Land Corp. stock. State of New Jersey Common Pension Fund D raised its stake in Gladstone Land Corp. (NASDAQ:LAND) by 19.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 344,000 shares of the company’s stock after buying an additional 55,000 shares during the period. State of New Jersey Common Pension Fund D owned approximately 3.80% of Gladstone Land Corp. worth $2,976,000 at the end of the most recent quarter.
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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