Gladstone Land Co. (NASDAQ:LANDP) to Issue $0.13 Monthly Dividend

Gladstone Land Co. (NASDAQ:LANDP) declared a monthly dividend on Friday, October 11th, Wall Street Journal reports. Stockholders of record on Wednesday, November 20th will be paid a dividend of 0.125 per share on Friday, November 29th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 6.95%. The ex-dividend date is Wednesday, November 20th.

Gladstone Land has decreased its dividend payment by an average of 8.1% annually over the last three years.

Gladstone Land Trading Down 1.1 %

Shares of NASDAQ:LANDP traded down $0.23 on Friday, reaching $21.57. The company had a trading volume of 24,116 shares, compared to its average volume of 19,259. Gladstone Land has a 52-week low of $16.56 and a 52-week high of $22.63. The firm’s 50 day simple moving average is $21.46 and its 200-day simple moving average is $20.64.

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.