Gladstone Land Co. (NASDAQ:LAND – Get Free Report) announced a monthly dividend on Tuesday, April 9th, Wall Street Journal reports. Investors of record on Wednesday, June 19th will be paid a dividend of 0.0466 per share by the real estate investment trust on Friday, June 28th. This represents a $0.56 annualized dividend and a yield of 4.18%. The ex-dividend date is Tuesday, June 18th.
Gladstone Land has a dividend payout ratio of -180.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Gladstone Land to earn $0.68 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 82.4%.
Gladstone Land Price Performance
Shares of NASDAQ LAND opened at $13.38 on Monday. Gladstone Land has a one year low of $12.31 and a one year high of $17.44. The firm has a market cap of $479.54 million, a PE ratio of 223.04, a PEG ratio of 3.72 and a beta of 1.03. The firm has a fifty day moving average of $13.12 and a 200 day moving average of $13.51. The company has a debt-to-equity ratio of 0.76, a quick ratio of 6.14 and a current ratio of 6.14.
Wall Street Analysts Forecast Growth
View Our Latest Stock Analysis on LAND
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.
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