Gladstone Land Co. (LAND) To Go Ex-Dividend on February 19th

Gladstone Land Co. (NASDAQ:LAND) declared a monthly dividend on Tuesday, January 14th,investing.com reports. Shareholders of record on Wednesday, February 19th will be given a dividend of 0.0467 per share by the real estate investment trust on Friday, February 28th. This represents a $0.56 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date of this dividend is Wednesday, February 19th. This is a positive change from Gladstone Land’s previous monthly dividend of $0.04.

Gladstone Land has a payout ratio of -350.0% 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 $0.52 per share next year, which means the company may not be able to cover its $0.56 annual dividend with an expected future payout ratio of 107.7%.

Gladstone Land Stock Down 0.4 %

Shares of Gladstone Land stock opened at $11.62 on Monday. The company’s 50-day moving average price is $10.85 and its 200-day moving average price is $12.45. Gladstone Land has a 12-month low of $10.27 and a 12-month high of $15.36. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.70 and a quick ratio of 0.70.

Wall Street Analyst Weigh In

Separately, Alliance Global Partners downgraded shares of Gladstone Land from a “buy” rating to a “neutral” rating and cut their price target for the company from $16.00 to $14.50 in a report on Friday, November 8th.

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.