Gladstone Land Corp. (LAND) Reaches New 1-Year High at $11.48
Gladstone Land Corp. (NASDAQ:LAND) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $11.48 and last traded at $11.35, with a volume of 45,662 shares. The stock had previously closed at $11.42.
Several research analysts have issued reports on LAND shares. TheStreet upgraded Gladstone Land Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, March 29th. Zacks Investment Research lowered Gladstone Land Corp. from a “buy” rating to a “hold” rating and set a $11.00 price target on the stock. in a report on Wednesday, May 4th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Gladstone Land Corp. presently has an average rating of “Buy” and a consensus price target of $12.13.
The firm’s 50-day moving average price is $10.50 and its 200-day moving average price is $9.39. The company has a market cap of $113.41 million and a P/E ratio of 133.53.
Gladstone Land Corp. (NASDAQ:LAND) last released its earnings results on Monday, May 2nd. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by $0.01. Equities research analysts forecast that Gladstone Land Corp. will post $0.15 EPS for the current fiscal year.
The firm also recently declared a monthly dividend, which was paid on Thursday, June 30th. Investors of record on Friday, June 17th were issued a dividend of $0.0413 per share. The ex-dividend date was Wednesday, June 15th. This represents a $0.50 dividend on an annualized basis and a yield of 4.36%.
A hedge fund recently raised its stake in Gladstone Land Corp. stock. State of New Jersey Common Pension Fund D raised its position 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 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 about 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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