Shares of Gladstone Land Co. (NASDAQ:LAND – Get Free Report) have received a consensus recommendation of “Moderate Buy” from the four ratings firms that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $16.00.
Several research analysts have recently commented on the company. Maxim Group downgraded Gladstone Land from a “buy” rating to a “hold” rating in a report on Monday, August 12th. Alliance Global Partners assumed coverage on Gladstone Land in a report on Tuesday, June 11th. They issued a “buy” rating and a $16.00 price objective on the stock.
Read Our Latest Analysis on LAND
Gladstone Land Stock Down 0.9 %
Gladstone Land Announces Dividend
The firm also recently announced a monthly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 20th will be paid a $0.0467 dividend. The ex-dividend date of this dividend is Friday, September 20th. This represents a $0.56 annualized dividend and a dividend yield of 3.88%. Gladstone Land’s payout ratio is presently 933.33%.
Institutional Trading of Gladstone Land
Several large investors have recently modified their holdings of LAND. Quadrant Capital Group LLC grew its stake in shares of Gladstone Land by 250.2% in the fourth quarter. Quadrant Capital Group LLC now owns 2,290 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 1,636 shares during the last quarter. Signaturefd LLC boosted its position in Gladstone Land by 3,910.3% during the 2nd quarter. Signaturefd LLC now owns 3,128 shares of the real estate investment trust’s stock valued at $43,000 after acquiring an additional 3,050 shares in the last quarter. M&G Plc bought a new stake in Gladstone Land during the 1st quarter valued at approximately $138,000. LRI Investments LLC bought a new stake in Gladstone Land during the 1st quarter valued at approximately $149,000. Finally, Millburn Ridgefield Corp boosted its position in Gladstone Land by 7.6% during the 1st quarter. Millburn Ridgefield Corp now owns 12,559 shares of the real estate investment trust’s stock valued at $168,000 after acquiring an additional 885 shares in the last quarter. 53.60% of the stock is owned by institutional investors.
Gladstone Land Company Profile
Founded in 1997, Gladstone Land is a publicly traded real estate investment trust that acquires and owns farmland and farm-related properties located in major agricultural markets in the U.S. and leases its properties to unrelated third-party farmers. The Company, which reports the aggregate fair value of its farmland holdings on a quarterly basis, currently owns 169 farms, comprised of approximately 116,000 acres in 15 different states and over 45,000 acre-feet of banked water in California, valued at a total of approximately $1.6 billion.
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