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

Gladstone Land Co. (NASDAQ:LAND) announced a monthly dividend on Tuesday, October 12th, Zacks reports. Stockholders of record on Friday, October 22nd will be paid a dividend of 0.045 per share by the real estate investment trust on Friday, October 29th. This represents a $0.54 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend is Thursday, October 21st.

Gladstone Land has increased its dividend by 2.6% over the last three years and has increased its dividend every year for the last 5 years. Gladstone Land has a payout ratio of -186.2% indicating that 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 $0.75 per share next year, which means the company should continue to be able to cover its $0.54 annual dividend with an expected future payout ratio of 72.0%.

Shares of NASDAQ LAND opened at $23.13 on Thursday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 6.18 and a current ratio of 6.18. Gladstone Land has a fifty-two week low of $13.55 and a fifty-two week high of $26.04. The firm has a market capitalization of $724.59 million, a PE ratio of -68.03, a price-to-earnings-growth ratio of 5.98 and a beta of 0.64. The stock’s 50-day simple moving average is $23.13 and its 200-day simple moving average is $22.84.

Gladstone Land (NASDAQ:LAND) last issued its earnings results on Monday, August 9th. The real estate investment trust reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.27). Gladstone Land had a negative return on equity of 0.36% and a negative net margin of 2.35%. On average, sell-side analysts forecast that Gladstone Land will post 0.62 earnings per share for the current fiscal year.

An institutional investor recently raised its position in Gladstone Land stock. Wells Fargo & Company MN grew its stake in Gladstone Land Co. (NASDAQ:LAND) by 32.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,393 shares of the real estate investment trust’s stock after purchasing an additional 15,046 shares during the period. Wells Fargo & Company MN owned approximately 0.20% of Gladstone Land worth $1,478,000 at the end of the most recent reporting period. 38.43% of the stock is owned by hedge funds and other institutional investors.

Several research firms have commented on LAND. LADENBURG THALM/SH SH lowered Gladstone Land from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 21st. Zacks Investment Research raised Gladstone Land from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research report on Thursday. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $23.00.

Gladstone Land Company Profile

Gladstone Land Corp. is an agricultural real estate investment trust, which engages in the business of owning and leasing farmland. It also includes farm-related facilities, such as cooling facilities, packinghouses, processing facilities, and various storage facilities. The company was founded by David Gladstone on June 14, 1997 and is headquartered in McLean, VA.

Further Reading: Why does the United States have a lingering trade deficit?

Dividend History for Gladstone Land (NASDAQ:LAND)

Receive News & Ratings for Gladstone Land Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gladstone Land and related companies with's FREE daily email newsletter.