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

Gladstone Land Co. (NASDAQ:LAND) announced a monthly dividend on Thursday, January 16th,Wall Street Journal reports. Stockholders 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 dividend yield of 5.27%. The ex-dividend date is Wednesday, March 19th.

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 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 Up 1.0 %

Gladstone Land stock opened at $10.64 on Thursday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.70 and a current ratio of 0.70. Gladstone Land has a fifty-two week low of $10.27 and a fifty-two week high of $15.36. The firm’s 50-day simple moving average is $11.38 and its 200 day simple moving average is $13.02.

Analyst Upgrades and Downgrades

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