Gladstone Land Corporation Declares Monthly Dividend of $0.04 (LAND)
Gladstone Land Corporation (NASDAQ:LAND) declared a monthly dividend on Wednesday, July 12th, Wall Street Journal reports. Shareholders of record on Wednesday, September 20th will be given a dividend of 0.044 per share by the real estate investment trust on Friday, September 29th. This represents a $0.53 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date is Tuesday, September 19th.
Gladstone Land Corporation (NASDAQ LAND) opened at 11.90 on Monday. The firm has a 50-day moving average price of $11.58 and a 200-day moving average price of $11.54. The company has a market cap of $141.01 million, a P/E ratio of 330.56 and a beta of 1.03. Gladstone Land Corporation has a 12-month low of $9.51 and a 12-month high of $12.89.
Several brokerages have weighed in on LAND. Zacks Investment Research cut Gladstone Land Corporation from a “buy” rating to a “hold” rating in a report on Saturday, June 10th. Singular Research began coverage on Gladstone Land Corporation in a report on Thursday, May 18th. They issued a “buy” rating and a $14.25 target price for the company. Finally, Ladenburg Thalmann Financial Services reiterated a “buy” rating on shares of Gladstone Land Corporation in a report on Wednesday, June 28th.
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In related news, CEO David Gladstone acquired 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The stock was purchased at an average cost of $11.38 per share, for a total transaction of $227,600.00. Following the purchase, the chief executive officer now directly owns 1,988,585 shares of the company’s stock, valued at approximately $22,630,097.30. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 21.87% of the company’s stock.
Gladstone Land Corporation Company Profile
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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