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

Gladstone Land Co. (NASDAQ:LAND) announced a monthly dividend on Tuesday, January 14th,NASDAQ Dividends reports. Investors 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 is Wednesday, February 19th.

Gladstone Land has a dividend 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. 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 opened at $11.62 on Monday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.77. The firm has a market cap 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. Gladstone Land has a 12-month low of $10.27 and a 12-month high of $15.36. The stock’s 50 day simple moving average is $10.85 and its 200 day simple moving average is $12.45.

Analyst Ratings Changes

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