Gladstone Land Corporation (NASDAQ:LAND) announced a monthly dividend on Wednesday, October 11th, Wall Street Journal reports. Shareholders of record on Tuesday, December 19th will be paid a dividend of 0.0441 per share by the real estate investment trust on Friday, December 29th. This represents a $0.53 annualized dividend and a yield of 3.90%. The ex-dividend date is Monday, December 18th.
Shares of Gladstone Land (NASDAQ LAND) opened at $13.58 on Wednesday. The company has a market capitalization of $183.43, a PE ratio of 24.23 and a beta of 0.98. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.86 and a current ratio of 0.86. Gladstone Land has a 12 month low of $10.35 and a 12 month high of $14.29.
Several equities research analysts have recently weighed in on LAND shares. Zacks Investment Research raised Gladstone Land from a “sell” rating to a “hold” rating in a research report on Saturday, September 23rd. Hilliard Lyons downgraded Gladstone Land from a “buy” rating to a “neutral” rating in a research report on Wednesday, November 8th. Finally, Ladenburg Thalmann Financial Services reaffirmed a “buy” rating and issued a $15.00 target price (up previously from $14.00) on shares of Gladstone Land in a research report on Friday, December 8th.
A hedge fund recently raised its stake in Gladstone Land stock. Northern Trust Corp boosted its holdings in Gladstone Land Corporation (NASDAQ:LAND) by 16.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 53,439 shares of the real estate investment trust’s stock after purchasing an additional 7,673 shares during the period. Northern Trust Corp owned about 0.45% of Gladstone Land worth $624,000 at the end of the most recent reporting period. Institutional investors own 26.34% of the company’s stock.
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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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