Gladstone Land (NASDAQ:LAND) declared a monthly dividend on Wednesday, April 11th, Wall Street Journal reports. Shareholders of record on Friday, April 20th will be given a dividend of 0.0443 per share by the real estate investment trust on Monday, April 30th. This represents a $0.53 annualized dividend and a yield of 4.17%. The ex-dividend date is Thursday, April 19th. This is an increase from Gladstone Land’s previous monthly dividend of $0.04.
NASDAQ LAND opened at $12.75 on Wednesday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 2.55. The firm has a market cap of $190.51, a price-to-earnings ratio of 22.77 and a beta of 0.87. Gladstone Land has a 52 week low of $10.77 and a 52 week high of $14.29.
Gladstone Land (NASDAQ:LAND) last posted its quarterly earnings data on Tuesday, February 20th. The real estate investment trust reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.15 by ($0.17). Gladstone Land had a negative return on equity of 0.03% and a negative net margin of 0.14%. The firm had revenue of $6.81 million for the quarter. analysts predict that Gladstone Land will post 0.59 EPS for the current fiscal year.
Separately, ValuEngine upgraded Gladstone Land from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $14.63.
In other Gladstone Land news, Director Walter H. Wilkinson bought 4,700 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was acquired at an average cost of $12.58 per share, for a total transaction of $59,126.00. Following the completion of the transaction, the director now owns 9,791 shares in the company, valued at $123,170.78. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 16.08% of the stock is currently owned by company insiders.
An institutional investor recently raised its position in Gladstone Land stock. Northern Trust Corp raised its stake in Gladstone Land (NASDAQ:LAND) by 16.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 53,439 shares of the real estate investment trust’s stock after purchasing an additional 7,673 shares during the period. Northern Trust Corp owned 0.45% of Gladstone Land worth $624,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 24.36% of the company’s stock.
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Gladstone Land Company Profile
Gladstone Land is a publicly-traded real estate investment trust that invests in farmland and farm-related properties located in major agricultural markets in the U.S., which it leases to farmers, and pays monthly distributions to its stockholders. The Company reports the current fair value of its farmland on a quarterly basis; as of December 31, 2017, the estimated net asset value of the Company was $13.96 per share.
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