Gladstone Land Co. (NASDAQ:LAND) Increases Dividend to $0.05 Per Share

Gladstone Land Co. (NASDAQ:LANDGet Free Report) announced a dividend on Monday, January 20th,investing.com reports. Stockholders of record on Monday, January 27th will be given a dividend of 0.0467 per share by the real estate investment trust on Friday, January 31st. This represents a dividend yield of 5.2%. The ex-dividend date of this dividend is Friday, January 24th. This is an increase from Gladstone Land’s previous dividend of $0.04.

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 Performance

LAND stock traded down $0.05 on Monday, reaching $10.77. The company’s stock had a trading volume of 268,825 shares, compared to its average volume of 312,437. Gladstone Land has a 52 week low of $10.27 and a 52 week high of $15.36. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.70 and a quick ratio of 0.70. The company has a market capitalization of $389.77 million, a P/E ratio of -41.42, a price-to-earnings-growth ratio of 3.33 and a beta of 1.05. The firm has a fifty day moving average of $11.29 and a two-hundred day moving average of $12.97.

Wall Street Analysts Forecast Growth

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

Read Our Latest Stock Report on LAND

Gladstone Land Company Profile

(Get Free Report)

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.

Further Reading

Dividend History for Gladstone Land (NASDAQ:LAND)

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