Gladstone Land Co. Announces Monthly Dividend of $0.0467

Gladstone Land Co. (NASDAQ:LAND) made an announcement on Friday, October 11th, regarding their monthly dividend. The real estate investment trust revealed that shareholders on record as of Wednesday, November 20th, will receive a dividend payment of $0.0467 per share. This payment is scheduled for Friday, November 29th. If annualized, this dividend translates to approximately $0.56, which signifies a yield of 4.15%. The ex-dividend date has been set for Wednesday, November 20th.

Gladstone Land has a dividend payout ratio of -147.4%. This indicates that the company is currently unable to cover its dividend through earnings and is depending on its balance sheet to meet dividend obligations. Analysts project that Gladstone Land will earn about $0.56 per share in the coming year, which raises concerns about the ability to maintain its annual dividend amidst a future payout ratio estimated to be 100.0%.

Analysis of Gladstone Land's Share Performance

On Friday, Gladstone Land's stock experienced a slight increase of $0.05, bringing the share price to $13.51 during mid-day trading. The company saw a trading volume of 130,103 shares, which is lower than its average volume of 180,632 shares. Over the past year, the stock has been recorded at a low of $12.31 and a high of $15.36. Currently, the market capitalization is approximately $484.20 million, with a P/E ratio of -75.05, a PEG ratio of 4.37, and a beta value of 1.07. The company's debt-to-equity ratio stands at 0.78, while both its quick ratio and current ratio are at 4.43. The stock's 50-day moving average is $13.82, and the 200-day moving average is $13.60.

Outlook from Wall Street Analysts

In recent ratings changes, Maxim Group downgraded Gladstone Land from a "buy" rating to a "hold" rating as reported on August 12th. Currently, there are two analysts rating the stock with a hold status, while two others have assigned a buy rating. According to aggregated data from MarketBeat, the consensus rating for the stock is considered a "Moderate Buy" alongside a target price of $16.00.

About Gladstone Land Co.

Founded in 1997, Gladstone Land operates as a real estate investment trust that focuses on acquiring and managing farmland and farm-related properties across key agricultural regions in the United States. The company leases its holdings to independent farmers. With a notable portfolio, Gladstone Land owns 169 farms that collectively cover about 116,000 acres in 15 U.S. states, including over 45,000 acre-feet of banked water in California. The total value of these assets is estimated at around $1.6 billion.

Dividend, Investment, Finance