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

Gladstone Land Co. (NASDAQ:LAND) declared a monthly dividend on Thursday, January 16th,Wall Street Journal reports. Shareholders of record on Wednesday, March 19th will be paid a dividend of 0.0467 per share by the real estate investment trust on Monday, March 31st. This represents a $0.56 annualized dividend and a yield of 5.27%. The ex-dividend date 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. 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 Up 1.0 %

Shares of NASDAQ:LAND opened at $10.64 on Thursday. Gladstone Land has a twelve month low of $10.27 and a twelve month high of $15.36. The stock’s 50 day moving average is $11.38 and its 200-day moving average is $13.02. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.77.

Wall Street Analysts Forecast Growth

Separately, Alliance Global Partners downgraded shares of Gladstone Land from a “buy” rating to a “neutral” rating and lowered their price objective for the stock 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.