Gladstone Land (NASDAQ:LANDP) Shares Down 1.3% – Here’s What Happened

Gladstone Land Co. (NASDAQ:LANDP) shares were down 1.3% during mid-day trading on Thursday . The company traded as low as $21.50 and last traded at $21.71. Approximately 23,275 shares were traded during mid-day trading, an increase of 13% from the average daily volume of 20,573 shares. The stock had previously closed at $21.99.

Gladstone Land Stock Down 1.3 %

The firm’s fifty day simple moving average is $21.69 and its two-hundred day simple moving average is $21.12.

Gladstone Land Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 20th will be given a dividend of $0.125 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 6.91%. The ex-dividend date is Friday, December 20th.

Institutional Investors Weigh In On Gladstone Land

An institutional investor recently raised its position in Gladstone Land stock. Moloney Securities Asset Management LLC raised its holdings in Gladstone Land Co. (NASDAQ:LANDP) by 15.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,209 shares of the company’s stock after buying an additional 1,800 shares during the period. Moloney Securities Asset Management LLC’s holdings in Gladstone Land were worth $278,000 as of its most recent SEC filing.

About Gladstone Land

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.