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

Gladstone Land Co. (NASDAQ:LAND) declared a monthly dividend on Tuesday, January 14th,NASDAQ Dividends reports. Shareholders of record on Wednesday, February 19th will be paid a dividend of 0.0467 per share by the real estate investment trust on Friday, February 28th. This represents a $0.56 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date of this dividend is Wednesday, February 19th.

Gladstone Land has a 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 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 Stock Down 0.4 %

Shares of LAND opened at $11.62 on Monday. The stock has a market cap of $420.53 million, a price-to-earnings ratio of -44.69, a P/E/G ratio of 3.48 and a beta of 1.05. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.77. Gladstone Land has a 12 month low of $10.27 and a 12 month high of $15.36. The company has a 50-day moving average price of $10.85 and a two-hundred day moving average price of $12.45.

Wall Street Analyst Weigh In

Separately, Alliance Global Partners cut shares of Gladstone Land from a “buy” rating to a “neutral” rating and cut their price target for the stock from $16.00 to $14.50 in a research note 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.