Diligent Investors LLC cut its stake in shares of Gladstone Land Corp. (NASDAQ:LAND) by 1.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 102,652 shares of the company’s stock after selling 2,015 shares during the period. Gladstone Land Corp. makes up 1.1% of Diligent Investors LLC’s holdings, making the stock its 25th largest position. Diligent Investors LLC’s holdings in Gladstone Land Corp. were worth $1,135,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in the stock. Geode Capital Management LLC raised its position in shares of Gladstone Land Corp. by 2.9% in the first quarter. Geode Capital Management LLC now owns 80,772 shares of the company’s stock valued at $813,000 after buying an additional 2,306 shares during the period. Loeb Partners Corp purchased a new position in Gladstone Land Corp. during the second quarter valued at about $166,000. Finally, Renaissance Technologies LLC raised its position in Gladstone Land Corp. by 11.7% in the first quarter. Renaissance Technologies LLC now owns 203,300 shares of the company’s stock valued at $2,047,000 after buying an additional 21,299 shares during the last quarter. 22.13% of the stock is currently owned by institutional investors and hedge funds.
Shares of Gladstone Land Corp. (NASDAQ:LAND) traded down 2.90% during midday trading on Tuesday, reaching $10.05. The company’s stock had a trading volume of 60,981 shares. The firm has a market capitalization of $100.74 million, a price-to-earnings ratio of 104.69 and a beta of 0.97. The firm’s 50 day moving average is $11.28 and its 200 day moving average is $10.75. Gladstone Land Corp. has a 52 week low of $6.72 and a 52 week high of $12.00.
The business also recently declared a monthly dividend, which was paid on Friday, September 30th. Shareholders of record on Wednesday, September 21st were given a dividend of $0.0413 per share. This represents a $0.50 annualized dividend and a yield of 4.78%. The ex-dividend date of this dividend was Monday, September 19th. Gladstone Land Corp.’s payout ratio is 555.56%.
Several equities analysts recently issued reports on LAND shares. JMP Securities lowered Gladstone Land Corp. from an “outperform” rating to a “market perform” rating in a research note on Monday, August 15th. Zacks Investment Research raised Gladstone Land Corp. from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research note on Thursday, July 7th.
In related news, Director Caren D. Merrick purchased 4,432 shares of the company’s stock in a transaction on Friday, August 26th. The stock was bought at an average price of $11.29 per share, with a total value of $50,037.28. Following the completion of the transaction, the director now owns 4,432 shares of the company’s stock, valued at approximately $50,037.28. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 21.67% of the company’s stock.
Gladstone Land Corp. Company Profile
Gladstone Land Corporation is an externally-managed, agricultural real estate investment trust (REIT). The Company is engaged in the business of owning and leasing farmland. The Company’s segment is farmland and farm-related properties. The Company is engaged in leasing its farms to independent farming operations and corporate farming operations.
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