Gladstone Land (NASDAQ:LAND) Sets New 1-Year Low at $19.96

Gladstone Land Co. (NASDAQ:LANDGet Rating) shares reached a new 52-week low during trading on Tuesday . The stock traded as low as $19.96 and last traded at $19.96, with a volume of 2624 shares. The stock had previously closed at $20.76.

Gladstone Land Price Performance

The firm has a fifty day simple moving average of $24.16 and a 200 day simple moving average of $28.37. The company has a market capitalization of $682.49 million, a PE ratio of -71.25, a P/E/G ratio of 4.87 and a beta of 0.84. The company has a debt-to-equity ratio of 1.02, a quick ratio of 3.32 and a current ratio of 3.32.

Gladstone Land Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 22nd will be issued a dividend of $0.0456 per share. The ex-dividend date of this dividend is Wednesday, September 21st. This represents a $0.55 annualized dividend and a yield of 2.74%. Gladstone Land’s payout ratio is currently -196.42%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Federated Hermes Inc. increased its holdings in Gladstone Land by 1.5% during the 2nd quarter. Federated Hermes Inc. now owns 54,031 shares of the real estate investment trust’s stock worth $1,197,000 after purchasing an additional 793 shares during the period. Private Trust Co. NA bought a new stake in Gladstone Land during the 2nd quarter valued at $349,000. Amundi boosted its position in Gladstone Land by 25.4% during the 2nd quarter. Amundi now owns 518,730 shares of the real estate investment trust’s stock valued at $11,579,000 after acquiring an additional 105,000 shares in the last quarter. Legal & General Group Plc boosted its position in Gladstone Land by 46.1% during the 2nd quarter. Legal & General Group Plc now owns 15,846 shares of the real estate investment trust’s stock valued at $352,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Gladstone Land by 20.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 60,878 shares of the real estate investment trust’s stock valued at $1,349,000 after acquiring an additional 10,279 shares in the last quarter. 46.21% of the stock is currently owned by hedge funds and other institutional investors.

Gladstone Land Company Profile

(Get Rating)

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 127 farms, comprised of approximately 94,000 acres in 13 different states, valued at approximately $1.0 billion.

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