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

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

NASDAQ:LAND opened at $11.62 on Monday. Gladstone Land has a 12-month low of $10.27 and a 12-month high of $15.36. 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 capitalization of $420.53 million, a P/E ratio of -44.69, a P/E/G ratio of 3.48 and a beta of 1.05. The stock’s fifty day simple moving average is $10.85 and its 200-day simple moving average is $12.45.

Analyst Upgrades and Downgrades

Separately, Alliance Global Partners lowered Gladstone Land from a “buy” rating to a “neutral” rating and reduced their price target for the stock 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.