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. Investors of record on Wednesday, February 19th will be paid 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 dividend yield of 4.82%. The ex-dividend date of this dividend is Wednesday, February 19th. This is an increase from Gladstone Land’s previous monthly dividend of $0.04.

Gladstone Land has a dividend payout ratio of -350.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research 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 Performance

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

Analysts Set New Price Targets

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

About Gladstone Land

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.