Gladstone Land Corp (NASDAQ:LAND) announced a monthly dividend on Tuesday, July 9th, Zacks reports. Stockholders of record on Monday, July 22nd will be given a dividend of 0.045 per share by the real estate investment trust on Wednesday, July 31st. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.71%. The ex-dividend date is Friday, July 19th. This is an increase from Gladstone Land’s previous monthly dividend of $0.04.

Gladstone Land has raised its dividend by an average of 4.6% per year over the last three years and has increased its dividend annually for the last 3 consecutive years. Gladstone Land has a payout ratio of 120.5% indicating that 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 $0.54 per share next year, which means the company should continue to be able to cover its $0.53 annual dividend with an expected future payout ratio of 98.1%.

Gladstone Land stock opened at $11.46 on Thursday. The company has a current ratio of 3.44, a quick ratio of 3.44 and a debt-to-equity ratio of 1.71. The business’s 50-day moving average price is $11.91. The stock has a market capitalization of $215.64 million, a price-to-earnings ratio of 22.47 and a beta of 0.80. Gladstone Land has a 1-year low of $11.12 and a 1-year high of $13.85.

Gladstone Land (NASDAQ:LAND) last posted its earnings results on Tuesday, May 7th. The real estate investment trust reported ($0.03) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.15). The firm had revenue of $7.83 million for the quarter. Gladstone Land had a return on equity of 1.73% and a net margin of 8.09%. Sell-side analysts anticipate that Gladstone Land will post 0.47 earnings per share for the current year.

A number of analysts have recently weighed in on LAND shares. Zacks Investment Research upgraded shares of DLH from a “sell” rating to a “hold” rating in a report on Tuesday, July 9th. ValuEngine upgraded shares of Xylem from a “hold” rating to a “buy” rating in a report on Friday, June 21st.

Gladstone Land Company Profile

Gladstone Land is a publicly-traded real estate investment trust that invests in farmland and farm-related properties located in major agricultural markets in the U.S., which it leases to unrelated third-party farmer-tenants. The Company reports the current fair value of its farmland on a quarterly basis; as of December 31, 2018, its estimated net asset value was $12.88 per share.

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Dividend History for Gladstone Land (NASDAQ:LAND)

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