Gladstone Land Co. (LAND) to Issue Monthly Dividend of $0.05 on April 30th

Gladstone Land Co. (NASDAQ:LAND) declared a monthly dividend on Tuesday, April 9th, Zacks reports. Shareholders of record on Friday, April 19th will be given a dividend of 0.047 per share by the real estate investment trust on Tuesday, April 30th. This represents a $0.56 annualized dividend and a dividend yield of 4.47%. The ex-dividend date is Thursday, April 18th. This is a positive change from Gladstone Land’s previous monthly dividend of $0.05.

Gladstone Land has raised its dividend payment by an average of 1.0% per year over the last three years and has raised its dividend every year for the last 10 years. Gladstone Land has a payout ratio of -193.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Gladstone Land to earn $0.70 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 80.0%.

Gladstone Land Stock Down 2.0 %

NASDAQ:LAND opened at $12.63 on Tuesday. Gladstone Land has a one year low of $12.57 and a one year high of $17.48. The firm’s fifty day moving average price is $13.15 and its two-hundred day moving average price is $13.82. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.80.

Hedge Funds Weigh In On Gladstone Land

Institutional investors and hedge funds have recently modified their holdings of the business. Lazard Asset Management LLC acquired a new position in shares of Gladstone Land in the fourth quarter valued at about $27,000. Money Concepts Capital Corp bought a new stake in Gladstone Land during the fourth quarter worth about $33,000. Ensign Peak Advisors Inc bought a new stake in Gladstone Land during the third quarter worth about $39,000. Highlander Capital Management LLC bought a new stake in Gladstone Land during the fourth quarter worth about $46,000. Finally, Captrust Financial Advisors bought a new stake in Gladstone Land during the second quarter worth about $57,000. 53.60% of the stock is currently owned by institutional investors and hedge funds.

Gladstone Land Company Profile

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.