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

Key Points

• Gladstone Land Corporation has declared a monthly dividend of $0.0467 per share, with a yield of 6.1%, payable on December 31st to investors of record on December 22nd.
• The company's current payout ratio is -114.3%, indicating it cannot cover its dividend with earnings, but it is expected to improve to 91.8% next year based on projected earnings.
• Gladstone Land owns 169 farms across 15 states, encompassing approximately 116,000 acres valued at about $1.6 billion.

Gladstone Land Corporation (NASDAQ:LAND - Get Free Report) announced a monthly dividend on Tuesday, October 14th. Investors of record on Monday, December 22nd will be paid a dividend of 0.0467 per share by the real estate investment trust on Wednesday, December 31st. This represents a c) annualized dividend and a yield of 6.1%. The ex-dividend date is Monday, December 22nd.

Gladstone Land has a payout ratio of -114.3% 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 $0.61 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 Stock Down 0.1%

LAND stock opened at $9.26 on Wednesday. The company has a current ratio of 2.21, a quick ratio of 2.21 and a debt-to-equity ratio of 0.74. The firm has a 50-day moving average of $9.06 and a two-hundred day moving average of $9.61. Gladstone Land has a 12 month low of $8.47 and a 12 month high of $13.85. The company has a market cap of $335.07 million, a price-to-earnings ratio of -21.05, a PEG ratio of 6.87 and a beta of 1.15.

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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