Gladstone Land Corporation (NASDAQ:LAND) CEO David Gladstone acquired 20,000 shares of the business’s stock in a transaction on Wednesday, June 14th. The stock was purchased at an average cost of $11.38 per share, with a total value of $227,600.00. Following the acquisition, 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 accessible through this link.
Gladstone Land Corporation (LAND) traded down 0.2422% on Tuesday, reaching $11.1629. 10,782 shares of the company’s stock were exchanged. The company has a market capitalization of $132.28 million, a P/E ratio of 310.0806 and a beta of 1.03. The firm has a 50-day moving average price of $11.17 and a 200-day moving average price of $11.42. Gladstone Land Corporation has a 1-year low of $9.51 and a 1-year high of $12.89.
The company also recently announced a monthly dividend, which will be paid on Friday, June 30th. Stockholders of record on Wednesday, June 21st will be paid a $0.0435 dividend. This represents a $0.52 annualized dividend and a dividend yield of 4.66%. The ex-dividend date of this dividend is Monday, June 19th. Gladstone Land Corporation’s dividend payout ratio (DPR) is presently 1,300.33%.
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Several hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its stake in Gladstone Land Corporation by 1.2% in the first quarter. Bank of America Corp DE now owns 9,618 shares of the real estate investment trust’s stock valued at $107,000 after buying an additional 118 shares during the period. Oppenheimer & Co. Inc. purchased a new stake in Gladstone Land Corporation during the first quarter valued at approximately $234,000. Renaissance Technologies LLC boosted its stake in Gladstone Land Corporation by 18.3% in the first quarter. Renaissance Technologies LLC now owns 445,700 shares of the real estate investment trust’s stock valued at $4,947,000 after buying an additional 68,800 shares during the period. Morgan Stanley boosted its stake in Gladstone Land Corporation by 7.5% in the first quarter. Morgan Stanley now owns 13,489 shares of the real estate investment trust’s stock valued at $150,000 after buying an additional 939 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in Gladstone Land Corporation by 22.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 15,192 shares of the real estate investment trust’s stock valued at $169,000 after buying an additional 2,830 shares during the period. Institutional investors own 22.49% of the company’s stock.
A number of research analysts have weighed in on LAND shares. Zacks Investment Research cut shares of Gladstone Land Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, May 30th. Singular Research started coverage on shares of Gladstone Land Corporation in a report on Thursday, May 18th. They issued a “buy” rating and a $14.25 price objective for the company.
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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