Gladstone Land Corp. (LAND) to Issue Monthly Dividend of $0.04
Gladstone Land Corp. (NASDAQ:LAND) declared a monthly dividend on Wednesday, October 12th. Shareholders of record on Friday, October 21st will be paid a dividend of 0.0425 per share on Monday, October 31st. This represents a $0.51 dividend on an annualized basis and a yield of 4.91%. The ex-dividend date is Wednesday, October 19th. This is a positive change from Gladstone Land Corp.’s previous monthly dividend of $0.04.
Gladstone Land Corp. (NASDAQ:LAND) opened at 10.39 on Thursday. The firm has a market cap of $104.15 million, a PE ratio of 108.23 and a beta of 0.96. Gladstone Land Corp. has a one year low of $6.72 and a one year high of $12.00. The firm has a 50-day moving average price of $11.07 and a 200-day moving average price of $10.76.
LAND has been the subject of several research reports. Zacks Investment Research raised Gladstone Land Corp. from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a report on Thursday, July 7th. JMP Securities lowered Gladstone Land Corp. from an “outperform” rating to a “market perform” rating in a report on Monday, August 15th.
In related news, Director Caren D. Merrick purchased 4,432 shares of the business’s stock in a transaction dated Friday, August 26th. The stock was purchased at an average cost of $11.29 per share, with a total value of $50,037.28. Following the completion of the acquisition, the director now directly owns 4,432 shares of the company’s stock, valued at $50,037.28. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 21.67% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. acquired a new stake in Gladstone Land Corp. during the second quarter valued at about $219,000. Janney Montgomery Scott LLC raised its stake in Gladstone Land Corp. by 85.0% in the second quarter. Janney Montgomery Scott LLC now owns 30,980 shares of the company’s stock valued at $342,000 after buying an additional 14,230 shares in the last quarter. Keeley Asset Management Corp raised its stake in Gladstone Land Corp. by 3.2% in the second quarter. Keeley Asset Management Corp now owns 32,690 shares of the company’s stock valued at $362,000 after buying an additional 1,009 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Gladstone Land Corp. by 7.0% in the second quarter. Dimensional Fund Advisors LP now owns 51,951 shares of the company’s stock valued at $575,000 after buying an additional 3,412 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Gladstone Land Corp. by 8.2% in the second quarter. Vanguard Group Inc. now owns 227,884 shares of the company’s stock valued at $2,521,000 after buying an additional 17,218 shares in the last quarter. 22.13% of the stock is owned by hedge funds and other institutional investors.
Gladstone Land Corp. Company Profile
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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