Gladstone Land Corp (NASDAQ:LAND) declared a monthly dividend on Tuesday, October 8th, Zacks reports. Shareholders of record on Tuesday, October 22nd will be paid a dividend of 0.045 per share by the real estate investment trust on Thursday, October 31st. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.50%. The ex-dividend date is Monday, October 21st.

Gladstone Land has increased its dividend payment by an average of 4.6% annually over the last three years and has raised its dividend annually for the last 3 consecutive years. Gladstone Land has a dividend payout ratio of 120.5% meaning 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 $0.53 annual dividend with an expected future payout ratio of 101.9%.

Shares of LAND traded up $0.06 during trading on Thursday, reaching $12.00. The company’s stock had a trading volume of 7,821 shares, compared to its average volume of 178,408. The company has a fifty day moving average of $11.77 and a two-hundred day moving average of $12.02. Gladstone Land has a twelve month low of $11.12 and a twelve month high of $13.85. The company has a market cap of $245.56 million, a price-to-earnings ratio of 23.53 and a beta of 0.78. The company has a quick ratio of 3.14, a current ratio of 3.14 and a debt-to-equity ratio of 1.51.

Gladstone Land (NASDAQ:LAND) last announced its earnings results on Wednesday, August 7th. The real estate investment trust reported ($0.04) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.16). The business had revenue of $8.36 million during the quarter. Gladstone Land had a net margin of 15.13% and a return on equity of 2.59%. As a group, equities analysts forecast that Gladstone Land will post 0.49 EPS for the current fiscal year.

In other Gladstone Land news, CEO David Gladstone purchased 135,739 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was bought at an average price of $11.86 per share, with a total value of $1,609,864.54. Following the completion of the purchase, the chief executive officer now owns 2,224,324 shares in the company, valued at approximately $26,380,482.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 12.41% of the company’s stock.

Several equities research analysts recently issued reports on the company. Maxim Group set a $15.00 price target on Gladstone Land and gave the company a “buy” rating in a research report on Friday, August 9th. ValuEngine upgraded Gladstone Land from a “hold” rating to a “buy” rating in a research note on Tuesday, August 6th. Aegis initiated coverage on Gladstone Land in a research note on Monday. They set a “buy” rating and a $13.50 price objective for the company. Finally, Zacks Investment Research downgraded Gladstone Land from a “hold” rating to a “sell” rating in a research note on Tuesday, September 17th. Two investment analysts have rated the stock with a sell rating and three have issued a buy rating to the company. Gladstone Land has a consensus rating of “Hold” and a consensus price target of $14.17.

About Gladstone Land

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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