Gladstone Land Co. Announces Monthly Dividend of $0.05

Gladstone Land Co. (NASDAQ:LAND) announced its plans for a monthly dividend on Friday, October 11th. This dividend is set at $0.0467 per share and will be distributed to shareholders of record on Wednesday, November 20th, with payment occurring on Friday, November 29th. If annualized, this dividend translates to $0.56, resulting in a yield of 4.15%. It is important to note that the ex-dividend date is also Wednesday, November 20th.

Dividend Insights:

Gladstone Land has a current dividend payout ratio of -147.4%, indicating that the company is unable to cover its dividend payments solely with its earnings and is instead utilizing its balance sheet. Analysts predict that Gladstone Land will earn $0.56 per share in the upcoming year, which raises concerns about the company’s ability to sustain its dividend amid an expected payout ratio of 100.0%.

Stock Performance Overview

During midday trading on Friday, shares of LAND experienced a slight increase of $0.05, reaching a value of $13.51. The trading volume for the day was 130,103 shares, which is lower than the average volume of 180,632. Over the past year, the stock has fluctuated between a low of $12.31 and a high of $15.36. Currently, Gladstone Land has a market capitalization of $484.20 million, a P/E ratio of -75.05, a PEG ratio of 4.37, and a beta value of 1.07. The company’s debt-to-equity ratio stands at 0.78, alongside a quick ratio and current ratio both at 4.43. The 50-day and 200-day moving averages are $13.82 and $13.60, respectively.

Analysts' Ratings and Forecast

In related news, Maxim Group has recently adjusted its ratings for Gladstone Land, changing it from a "buy" to a "hold" as of August 12th. Currently, two equities research analysts have provided a hold rating, while two others maintain a buy rating on the stock. According to MarketBeat, the consensus rating is categorized as a "Moderate Buy", with an average price target set at $16.00.

About Gladstone Land

Founded in 1997, Gladstone Land is a publicly traded real estate investment trust that specializes in acquiring and owning agricultural land and properties in key markets across the U.S. The company leases these properties to unrelated farmers. Gladstone Land has seen steady growth in its portfolio and currently owns 169 farms, totaling approximately 116,000 acres spanning 15 states. Additionally, it holds over 45,000 acre-feet of banked water in California, with the overall value of its farmland holdings estimated at around $1.6 billion.

dividend, investment, finance