Gladstone Land Co. (LAND) to Issue Monthly Dividend of $0.05 on February 28th

Gladstone Land Co. (NASDAQ:LAND) declared a monthly dividend on Tuesday, January 14th,NASDAQ Dividends reports. Shareholders of record on Wednesday, February 19th will be paid a dividend of 0.0467 per share by the real estate investment trust on Friday, February 28th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date is Wednesday, February 19th.

Gladstone Land has a payout ratio of -350.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Gladstone Land to earn $0.52 per share next year, which means the company may not be able to cover its $0.56 annual dividend with an expected future payout ratio of 107.7%.

Gladstone Land Stock Down 0.4 %

LAND opened at $11.62 on Monday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a market capitalization of $420.53 million, a price-to-earnings ratio of -44.69, a price-to-earnings-growth ratio of 3.48 and a beta of 1.05. The business has a 50-day moving average of $10.85 and a two-hundred day moving average of $12.45. Gladstone Land has a 12 month low of $10.27 and a 12 month high of $15.36.

Wall Street Analyst Weigh In

Separately, Alliance Global Partners cut Gladstone Land from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $16.00 to $14.50 in a report on Friday, November 8th.

Gladstone Land Company Profile

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.