Gladstone Land Co. Announces Monthly Dividend Plan

Gladstone Land Co. (NASDAQ:LAND) revealed its plan for a monthly dividend on Friday, October 11th. Shareholders who hold shares as of Wednesday, November 20th, will receive a dividend of $0.0467 per share, which will be paid on Friday, November 29th. This amounts to an annualized dividend of $0.56 and offers a yield of 4.15%. The crucial ex-dividend date falls on Wednesday, November 20th.

It’s important to note that Gladstone Land has a dividend payout ratio of -147.4%. This indicates that the company isn't currently able to cover its dividends strictly from its earnings; instead, it depends on its balance sheet to meet these obligations. Analysts project that Gladstone Land will generate earnings of $0.56 per share next year, suggesting it might struggle to cover the annual dividend with an expected payout ratio of 100.0%.

Gladstone Land Stock Performance

In trading on Friday, LAND shares gained $0.05, bringing the stock price to $13.51. The trading volume for the day was approximately 130,103 shares, compared to an average volume of 180,632. Over the past year, the stock has seen a low of $12.31 and a high of $15.36. Gladstone Land has a market capitalization of $484.20 million, with a P/E ratio of -75.05, a PEG ratio of 4.37, and a beta of 1.07. Its debt-to-equity ratio stands at 0.78, with both a quick ratio and current ratio at 4.43. The company’s 50-day and 200-day moving averages are at $13.82 and $13.60 respectively.

Analysts' Outlook on Gladstone Land

In a separate report, Maxim Group downgraded its rating on Gladstone Land from "buy" to "hold" on August 12th. Presently, two analysts have assigned a hold rating, while two others have recommended it as a buy. According to MarketBeat data, the stock currently holds a consensus rating of "Moderate Buy" with a price target of $16.00.

About Gladstone Land

Founded in 1997, Gladstone Land is a publicly traded real estate investment trust (REIT) that specializes in acquiring and owning farmland and properties related to agriculture across major agricultural markets in the U.S. The company leases these properties to unrelated third-party farmers and reports the overall fair value of its farmland holdings quarterly. Currently, Gladstone Land owns 169 farms, totaling about 116,000 acres across 15 states, including more than 45,000 acre-feet of banked water in California. The total value of these holdings is approximately $1.6 billion.

dividend, finance, stocks