Gladstone Land Co. (LAND) to Issue Monthly Dividend of $0.05 on March 31st

Gladstone Land Co. (NASDAQ:LAND) announced a monthly dividend on Thursday, January 16th,Wall Street Journal reports. Stockholders 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 dividend yield of 5.20%. The ex-dividend date of this dividend is Wednesday, March 19th.

Gladstone Land has a payout ratio of -311.1% 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 Trading Down 0.5 %

LAND stock opened at $10.77 on Friday. The firm has a 50-day moving average of $11.29 and a two-hundred day moving average of $12.98. 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.

Analyst Ratings Changes

Separately, Alliance Global Partners cut 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 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.