Gladstone Land Co. (LAND) To Go Ex-Dividend on December 20th

Gladstone Land Co. (NASDAQ:LAND) announced a monthly dividend on Tuesday, October 8th,Wall Street Journal reports. Shareholders of record on Friday, December 20th will be paid a dividend of 0.0467 per share by the real estate investment trust on Tuesday, December 31st. This represents a $0.56 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date of this dividend is Friday, December 20th.

Gladstone Land has a payout ratio of -133.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 Trading Up 1.2 %

LAND opened at $11.25 on Wednesday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.77. The firm has a market cap of $407.08 million, a P/E ratio of -43.27, a P/E/G ratio of 3.91 and a beta of 1.04. Gladstone Land has a 52 week low of $11.02 and a 52 week high of $15.36. The business has a fifty day simple moving average of $12.53 and a 200-day simple moving average of $13.42.

Analysts Set New Price Targets

Separately, Alliance Global Partners downgraded Gladstone Land from a “buy” rating to a “neutral” rating and dropped their target price for the company from $16.00 to $14.50 in a research 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.