Gladstone Land (NASDAQ:LANDP) Trading Down 1.3% – Here’s What Happened

Shares of Gladstone Land Co. (NASDAQ:LANDP) dropped 1.3% during mid-day trading on Thursday . The company traded as low as $21.50 and last traded at $21.71. Approximately 23,275 shares changed hands during trading, an increase of 13% from the average daily volume of 20,573 shares. The stock had previously closed at $21.99.

Gladstone Land Stock Performance

The stock’s 50-day moving average is $21.67 and its 200-day moving average is $21.14.

Gladstone Land Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 20th will be given a dividend of $0.125 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 6.90%. The ex-dividend date is Friday, December 20th.

Hedge Funds Weigh In On Gladstone Land

A hedge fund recently raised its stake in Gladstone Land stock. Moloney Securities Asset Management LLC lifted its holdings in shares of Gladstone Land Co. (NASDAQ:LANDP) by 15.8% in the second quarter, according to its most recent filing with the SEC. The firm owned 13,209 shares of the company’s stock after acquiring an additional 1,800 shares during the period. Moloney Securities Asset Management LLC’s holdings in Gladstone Land were worth $278,000 as of its most recent filing with the SEC.

About Gladstone Land

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.