Gladstone Land Corp (LAND) Announces $0.04 Monthly Dividend
Gladstone Land Corp (NASDAQ:LAND) announced a monthly dividend on Wednesday, January 10th, Wall Street Journal reports. Stockholders of record on Tuesday, March 20th will be given a dividend of 0.0443 per share by the real estate investment trust on Friday, March 30th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date of this dividend is Monday, March 19th.
Shares of Gladstone Land (LAND) traded up $0.02 during trading on Thursday, hitting $13.79. 2,653 shares of the company traded hands, compared to its average volume of 50,629. The stock has a market cap of $182.66, a price-to-earnings ratio of 689.50 and a beta of 0.99. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 2.48. Gladstone Land has a 52-week low of $10.77 and a 52-week high of $14.29.
A hedge fund recently raised its stake in Gladstone Land stock. Northern Trust Corp boosted its holdings in Gladstone Land Corp (NASDAQ:LAND) by 16.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,439 shares of the real estate investment trust’s stock after purchasing an additional 7,673 shares during the quarter. Northern Trust Corp owned about 0.45% of Gladstone Land worth $624,000 as of its most recent SEC filing. 26.34% of the stock is currently owned by hedge funds and other institutional investors.
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About Gladstone Land
Gladstone Land Corporation is an agricultural real estate investment trust (REIT). The Company is engaged in the business of owning and leasing farmland. The Company also owns various farm-related facilities, such as cooling facilities, buildings utilized for the storage and assembly of boxes for shipping produce (box barns), packinghouses, processing facilities and various storage facilities.
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