Gladstone Land Corporation Declares Monthly Dividend of $0.05 (NASDAQ:LAND)

Key Points

• Gladstone Land Corporation declared a monthly dividend of $0.05 per share, with the ex-dividend date set for October 24th and payments scheduled for October 31st.
• The company currently has a dividend payout ratio of -114.3%, indicating reliance on its balance sheet rather than earnings to cover dividend payments.
• Gladstone Land has seen significant increases in investor stakes, with Parallel Advisors LLC boosting its holdings by over 1,146% recently.

Gladstone Land Corporation (NASDAQ:LAND - Get Free Report) announced a monthly dividend on Tuesday, October 14th. Investors of record on Friday, October 24th will be paid a dividend of 0.0467 per share by the real estate investment trust on Friday, October 31st. This represents a c) annualized dividend and a yield of 6.1%. The ex-dividend date is Friday, October 24th.

Gladstone Land has a dividend payout ratio of -114.3% 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 analysts expect Gladstone Land to earn $0.61 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 91.8%.

Gladstone Land Trading Down 0.1%

Shares of NASDAQ:LAND opened at $9.26 on Wednesday. Gladstone Land has a 52-week low of $8.47 and a 52-week high of $13.85. The company has a market capitalization of $335.07 million, a P/E ratio of -21.05, a price-to-earnings-growth ratio of 6.87 and a beta of 1.15. The company has a 50-day simple moving average of $9.06 and a 200 day simple moving average of $9.61. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.21 and a current ratio of 2.21.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC increased its stake in Gladstone Land by 1,146.9% in the second quarter. Parallel Advisors LLC now owns 3,454 shares of the real estate investment trust's stock valued at $35,000 after acquiring an additional 3,177 shares during the last quarter. CWM LLC increased its stake in Gladstone Land by 116.0% in the second quarter. CWM LLC now owns 4,504 shares of the real estate investment trust's stock valued at $46,000 after acquiring an additional 2,419 shares during the last quarter. Signaturefd LLC increased its stake in Gladstone Land by 73.5% in the first quarter. Signaturefd LLC now owns 4,924 shares of the real estate investment trust's stock valued at $52,000 after acquiring an additional 2,086 shares during the last quarter. Strs Ohio bought a new position in Gladstone Land in the first quarter valued at approximately $63,000. Finally, Trifecta Capital Advisors LLC bought a new position in Gladstone Land in the first quarter valued at approximately $69,000. 53.60% of the stock is owned by institutional investors.

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.

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