Shares of Gladstone Land Corp. (NASDAQ:LAND) reached a new 52-week high on Friday . The company traded as high as $11.50 and last traded at $11.48, with a volume of 42,283 shares traded. The stock had previously closed at $11.21.

Separately, Zacks Investment Research downgraded shares of Gladstone Land Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, July 6th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $12.63.

The company’s 50 day moving average is $10.92 and its 200 day moving average is $9.71. The stock has a market cap of $114.71 million and a P/E ratio of 135.06.

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 the consensus estimate of $0.03 by $0.01. On average, analysts predict that Gladstone Land Corp. will post $0.15 earnings per share for the current fiscal year.

The firm also recently announced a monthly dividend, which will be paid on Wednesday, August 31st. Stockholders of record on Monday, August 22nd will be given a dividend of $0.0413 per share. The ex-dividend date is Thursday, August 18th. This represents a $0.50 annualized dividend and a dividend yield of 4.31%.

A hedge fund recently raised its stake 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 disclosure 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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