Gladstone Land (NASDAQ:LAND - Free Report) had its target price trimmed by Maxim Group from $19.00 to $16.00 in a research note released on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the real estate investment trust's stock.
Gladstone Land Stock Up 0.8 %
Shares of LAND stock traded up $0.10 during trading on Thursday, reaching $13.32. The company's stock had a trading volume of 204,381 shares, compared to its average volume of 198,143. The company has a market cap of $477.36 million, a price-to-earnings ratio of -49.33, a price-to-earnings-growth ratio of 3.29 and a beta of 1.00. Gladstone Land has a one year low of $12.31 and a one year high of $17.48. The business has a fifty day moving average price of $12.96 and a 200-day moving average price of $13.66. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.80.
Gladstone Land Dividend Announcement
The business also recently announced a monthly dividend, which will be paid on Friday, June 28th. Investors of record on Wednesday, June 19th will be given a $0.0466 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date is Tuesday, June 18th. Gladstone Land's dividend payout ratio is currently -203.70%.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of LAND. Quadrant Capital Group LLC raised its stake in shares of Gladstone Land by 250.2% during the 4th quarter. Quadrant Capital Group LLC now owns 2,290 shares of the real estate investment trust's stock worth $33,000 after purchasing an additional 1,636 shares in the last quarter. M&G Investment Management Ltd. bought a new position in shares of Gladstone Land in the 4th quarter valued at about $149,000. Millburn Ridgefield Corp increased its stake in shares of Gladstone Land by 7.6% during the 1st quarter. Millburn Ridgefield Corp now owns 12,559 shares of the real estate investment trust's stock worth $168,000 after purchasing an additional 885 shares during the last quarter. OneAscent Financial Services LLC bought a new stake in shares of Gladstone Land in the 4th quarter valued at about $170,000. Finally, Catalyst Capital Advisors LLC lifted its stake in Gladstone Land by 28.6% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 12,064 shares of the real estate investment trust's stock valued at $172,000 after purchasing an additional 2,685 shares during the last quarter. 53.60% of the stock is owned by institutional investors and hedge funds.
Gladstone Land Company Profile
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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.
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