Gladstone Land Corp (NASDAQ:LAND) declared a monthly dividend on Wednesday, January 10th, Wall Street Journal reports. Investors of record on Friday, February 16th will be paid a dividend of 0.0443 per share by the real estate investment trust on Wednesday, February 28th. This represents a $0.53 annualized dividend and a yield of 4.36%. The ex-dividend date is Thursday, February 15th.
Gladstone Land (NASDAQ:LAND) opened at $12.19 on Wednesday. Gladstone Land has a one year low of $10.77 and a one year high of $14.29. The stock has a market capitalization of $166.11, a price-to-earnings ratio of 21.95 and a beta of 0.88. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.86 and a current ratio of 0.86.
LAND has been the topic of several research analyst reports. Hilliard Lyons cut Gladstone Land from a “buy” rating to a “neutral” rating in a research note on Wednesday, November 8th. Zacks Investment Research cut Gladstone Land from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. Finally, Ladenburg Thalmann Financial Services restated a “buy” rating and set a $15.00 price objective (up from $14.00) on shares of Gladstone Land in a research note on Friday, December 8th.
A hedge fund recently raised its stake in Gladstone Land stock. Northern Trust Corp increased its position in shares of Gladstone Land Corp (NASDAQ:LAND) by 16.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 0.45% of Gladstone Land worth $624,000 at the end of the most recent reporting period. 26.46% of the stock is currently owned by institutional investors and hedge funds.
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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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