Gladstone Land (NASDAQ:LANDP) Stock Price Down 0.3% – Time to Sell?

Gladstone Land Co. (NASDAQ:LANDP)’s stock price dropped 0.3% during mid-day trading on Friday . The company traded as low as $20.75 and last traded at $21.39. Approximately 48,744 shares traded hands during mid-day trading, an increase of 126% from the average daily volume of 21,587 shares. The stock had previously closed at $21.46.

Gladstone Land Stock Performance

The firm has a 50 day moving average price of $21.56 and a two-hundred day moving average price of $21.32.

Gladstone Land Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 20th will be paid a dividend of $0.125 per share. The ex-dividend date is Friday, December 20th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 7.01%.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Gladstone Land stock. Moloney Securities Asset Management LLC lifted its stake in shares of Gladstone Land Co. (NASDAQ:LANDP) by 15.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 13,209 shares of the company’s stock after acquiring 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.