Gladstone Land Corp (LAND) is Downgraded by JMP Securities to Mkt Perform

Gladstone Land Corp (LAND) was Downgraded by JMP Securities to ” Mkt Perform”. Earlier the firm had a rating of “Mkt Outperform ” on the company shares. JMP Securities advised their investors in a research report released on Aug 15, 2016.

Gladstone Land Corp opened for trading at $11.48 and hit $11.599 on the upside on Friday, eventually ending the session at $11.47, with a gain of 0.09% or 0.01 points. The heightened volatility saw the trading volume jump to 51,148 shares. Company has a market cap of $115 M.

In a different news, on May 19, 2016, Lewis Parrish (CFO) purchased 150 shares at $10.00 per share price. According to the SEC, on May 9, 2016, Paul W Adelgren (director) purchased 1,000 shares at $10.19 per share price. On Mar 10, 2016, David Gladstone (CEO) purchased 19,000 shares at $8.87 per share price, according to the Form-4 filing with the securities and exchange commission.

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 is engaged in leasing its farms to independent farming operations and corporate farming operations. As of December 31 2014 the Company owns 8370 acres consisted of 33 farms 15 in California nine in Florida four in Michigan four in Oregon and one in Arizona. The Company also owns three cooling facilities and one box barn. These properties are leased to 30 separate and unrelated tenants that are either corporate or independent farmers. The Company’s business and real estate portfolio investments are managed by Gladstone Management Corporation.

Gladstone Land Corp

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