Gladstone Land Corp. (LAND) to Issue Monthly Dividend of $0.04
Gladstone Land Corp. (NASDAQ:LAND) declared a monthly dividend on Wednesday, October 12th. Shareholders of record on Friday, October 21st will be given a dividend of 0.0425 per share on Monday, October 31st. This represents a $0.51 annualized dividend and a dividend yield of 4.91%. The ex-dividend date of this dividend is Wednesday, October 19th. This is a positive change from Gladstone Land Corp.’s previous monthly dividend of $0.04.
In other news, Director Caren D. Merrick bought 4,432 shares of the stock in a transaction on Friday, August 26th. The stock was acquired at an average price of $11.29 per share, with a total value of $50,037.28. Following the acquisition, the director now directly owns 4,432 shares in the company, valued at $50,037.28. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 21.67% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Gladstone Land Corp. by 8.2% in the second quarter. Vanguard Group Inc. now owns 227,884 shares of the company’s stock worth $2,521,000 after buying an additional 17,218 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Gladstone Land Corp. by 7.0% in the second quarter. Dimensional Fund Advisors LP now owns 51,951 shares of the company’s stock worth $575,000 after buying an additional 3,412 shares during the last quarter. Keeley Asset Management Corp boosted its position in shares of Gladstone Land Corp. by 3.2% in the second quarter. Keeley Asset Management Corp now owns 32,690 shares of the company’s stock worth $362,000 after buying an additional 1,009 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Gladstone Land Corp. by 85.0% in the second quarter. Janney Montgomery Scott LLC now owns 30,980 shares of the company’s stock worth $342,000 after buying an additional 14,230 shares during the last quarter. Finally, JPMorgan Chase & Co. purchased a new position in shares of Gladstone Land Corp. during the second quarter worth about $219,000. 22.13% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have recently commented on LAND shares. Zacks Investment Research raised Gladstone Land Corp. from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a report on Thursday, July 7th. JMP Securities cut Gladstone Land Corp. from an “outperform” rating to a “market perform” rating in a report on Monday, August 15th.
About Gladstone Land Corp.
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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