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

Key Points

• Gladstone Land Corporation declared a monthly dividend of $0.0467 per share, with stockholders of record on November 17 set to receive this payment on November 26, reflecting an annualized yield of 6.1%.
• The company has a troubling dividend payout ratio of -114.3%, indicating it relies on its balance sheet to cover dividends, although future earnings predictions suggest a more sustainable payout ratio of 91.8% next year.
• Recent institutional investments show significant interest, with ProShare Advisors LLC acquiring a position valued at approximately $6.1 million and Farther Finance Advisors LLC boosting its position by over 58,000%.

Gladstone Land Corporation (NASDAQ:LAND - Get Free Report) declared a monthly dividend on Tuesday, October 14th. Stockholders of record on Monday, November 17th will be given a dividend of 0.0467 per share by the real estate investment trust on Wednesday, November 26th. This represents a c) dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date of this dividend is Monday, November 17th.

Gladstone Land has a dividend 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 Performance

Gladstone Land stock opened at $9.26 on Wednesday. The company has a market cap of $335.07 million, a price-to-earnings ratio of -21.05, a price-to-earnings-growth ratio of 6.87 and a beta of 1.15. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.21 and a quick ratio of 2.21. Gladstone Land has a 12 month low of $8.47 and a 12 month high of $13.85. The stock's 50-day moving average is $9.06 and its 200-day moving average is $9.61.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. ProShare Advisors LLC acquired a new position in Gladstone Land during the 2nd quarter valued at approximately $6,096,000. Farther Finance Advisors LLC boosted its position in Gladstone Land by 58,781.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 98,332 shares of the real estate investment trust's stock valued at $901,000 after purchasing an additional 98,165 shares during the period. Nuveen LLC acquired a new position in Gladstone Land during the 1st quarter valued at approximately $850,000. Jane Street Group LLC boosted its position in Gladstone Land by 141.1% during the 1st quarter. Jane Street Group LLC now owns 108,843 shares of the real estate investment trust's stock valued at $1,145,000 after purchasing an additional 63,702 shares during the period. Finally, Invenomic Capital Management LP bought a new stake in Gladstone Land during the 1st quarter valued at $638,000. Institutional investors and hedge funds own 53.60% of the company's stock.

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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