Gladstone Land Co. (NASDAQ:LAND) Announces Monthly Dividend of $0.05

Gladstone Land Co. (NASDAQ:LAND) declared a monthly dividend on Thursday, January 16th,Wall Street Journal reports. Shareholders of record on Wednesday, March 19th will be given a dividend of 0.0467 per share by the real estate investment trust on Monday, March 31st. This represents a $0.56 dividend on an annualized basis and a yield of 5.18%. The ex-dividend date is Wednesday, March 19th.

Gladstone Land has a dividend payout ratio of -311.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 Up 1.7 %

LAND stock opened at $10.82 on Friday. The firm has a 50-day moving average price of $11.33 and a 200-day moving average price of $13.00. Gladstone Land has a 12 month low of $10.27 and a 12 month high of $15.36. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $391.58 million, a P/E ratio of -41.62, a price-to-earnings-growth ratio of 3.33 and a beta of 1.05.

Analyst Ratings Changes

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

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.