Gladstone Land Co. (NASDAQ:LAND – Get Rating) saw a significant growth in short interest in May. As of May 31st, there was short interest totalling 1,110,000 shares, a growth of 8.8% from the May 15th total of 1,020,000 shares. Based on an average daily trading volume, of 213,900 shares, the short-interest ratio is presently 5.2 days.
Gladstone Land Stock Performance
Shares of Gladstone Land stock opened at $17.24 on Friday. The company has a quick ratio of 4.00, a current ratio of 4.00 and a debt-to-equity ratio of 0.82. Gladstone Land has a twelve month low of $14.95 and a twelve month high of $27.45. The stock has a market cap of $615.71 million, a price-to-earnings ratio of -36.68, a P/E/G ratio of 4.26 and a beta of 1.02. The company’s fifty day moving average is $16.13 and its 200 day moving average is $17.52.
Gladstone Land Dividend Announcement
The firm also recently disclosed a monthly dividend, which will be paid on Friday, June 30th. Investors of record on Wednesday, June 21st will be paid a $0.046 dividend. The ex-dividend date is Tuesday, June 20th. This represents a $0.55 annualized dividend and a dividend yield of 3.20%. Gladstone Land’s dividend payout ratio is -117.02%.
Institutional Trading of Gladstone Land
Several institutional investors have recently modified their holdings of the business. Federated Hermes Inc. grew its stake in shares of Gladstone Land by 1.1% in the first quarter. Federated Hermes Inc. now owns 53,238 shares of the real estate investment trust’s stock worth $1,939,000 after purchasing an additional 566 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Gladstone Land by 4.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,767 shares of the real estate investment trust’s stock valued at $308,000 after acquiring an additional 672 shares during the last quarter. Great West Life Assurance Co. Can boosted its position in Gladstone Land by 80.5% during the first quarter. Great West Life Assurance Co. Can now owns 1,565 shares of the real estate investment trust’s stock valued at $61,000 after acquiring an additional 698 shares during the last quarter. Advisor Group Holdings Inc. boosted its position in Gladstone Land by 1.9% during the fourth quarter. Advisor Group Holdings Inc. now owns 39,234 shares of the real estate investment trust’s stock valued at $720,000 after acquiring an additional 717 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Gladstone Land by 0.8% during the fourth quarter. JPMorgan Chase & Co. now owns 101,942 shares of the real estate investment trust’s stock valued at $1,869,000 after acquiring an additional 778 shares during the last quarter. Institutional investors own 45.31% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on LAND. Oppenheimer upgraded shares of Gladstone Land from a “market perform” rating to an “outperform” rating and lowered their price target for the stock from $25.00 to $22.00 in a report on Wednesday, February 22nd. StockNews.com began coverage on shares of Gladstone Land in a report on Thursday, May 18th. They set a “sell” rating for the company. B. Riley lowered their price target on shares of Gladstone Land from $27.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, February 23rd. Finally, EF Hutton Acquisition Co. I lowered their price target on shares of Gladstone Land from $25.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, February 23rd.
Gladstone Land Company Profile
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Gladstone Land Corp. is an agricultural real estate investment trust, which engages in the business of owning and leasing farmland. It also includes farm-related facilities, such as cooling facilities, packinghouses, processing facilities, and various storage facilities. The company was founded by David Gladstone on June 14, 1997 and is headquartered in McLean, VA.
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