Shares of Gladstone Land Corp. (NASDAQ:LAND) reached a new 52-week high on Friday . The company traded as high as $11.60 and last traded at $11.46, with a volume of 31,024 shares. The stock had previously closed at $11.46.

Separately, Zacks Investment Research downgraded shares of Gladstone Land Corp. from a “buy” rating to a “hold” rating in a report on Saturday, August 6th.

The stock has a market cap of $114.98 million and a P/E ratio of 119.48. The company’s 50-day moving average is $11.21 and its 200 day moving average is $9.97.

The company also recently declared a monthly dividend, which will be paid on Wednesday, August 31st. Investors of record on Monday, August 22nd will be issued a dividend of $0.0413 per share. This represents a $0.50 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date is Thursday, August 18th.

An institutional investor recently raised its position in Gladstone Land Corp. stock. State of New Jersey Common Pension Fund D increased its stake in shares of Gladstone Land Corp. (NASDAQ:LAND) by 19.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm 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 3.80% of Gladstone Land Corp. worth $2,976,000 at the end of the most recent reporting period.

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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