Gladstone Land Co. (NASDAQ:LAND) Increases Dividend to $0.05 Per Share

Gladstone Land Co. (NASDAQ:LAND) declared a dividend on Monday, January 20th,investing.com reports. Stockholders of record on Monday, January 27th will be paid a dividend of 0.0467 per share by the real estate investment trust on Friday, January 31st. This represents a dividend yield of 5.2%. The ex-dividend date of this dividend is Friday, January 24th. This is a positive change from Gladstone Land’s previous dividend of $0.04.

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 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 Price Performance

Shares of Gladstone Land stock opened at $10.77 on Tuesday. Gladstone Land has a 12 month low of $10.27 and a 12 month high of $15.36. 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 business’s fifty day simple moving average is $11.25 and its 200 day simple moving average is $12.96.

Analysts Set New Price Targets

Separately, Alliance Global Partners lowered 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 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.