Gladstone Land Corp. (LAND) Reaches New 12-Month High at $11.81
Gladstone Land Corp. (NASDAQ:LAND) shares hit a new 52-week high during trading on Monday . The company traded as high as $11.81 and last traded at $11.78, with a volume of 71,388 shares trading hands. The stock had previously closed at $11.21.
LAND has been the topic of a number of recent research reports. Zacks Investment Research cut Gladstone Land Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, July 6th. JMP Securities cut Gladstone Land Corp. from an “outperform” rating to a “market perform” rating in a research report on Monday, August 15th.
The company’s 50-day moving average price is $11.26 and its 200 day moving average price is $10.21. The stock has a market cap of $117.58 million and a PE ratio of 122.19.
The business also recently disclosed a monthly dividend, which will be paid on Wednesday, August 31st. Investors of record on Monday, August 22nd will be given a dividend of $0.0413 per share. This represents a $0.50 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date is Thursday, August 18th.
A hedge fund recently raised its stake in Gladstone Land Corp. stock. State of New Jersey Common Pension Fund D boosted its position in 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 institutional investor 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 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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