Gladstone Land Corporation (NASDAQ:LAND – Get Free Report) declared a monthly dividend on Tuesday, July 14th. Stockholders of record on Tuesday, August 18th will be given a dividend of 0.0467 per share by the real estate investment trust on Monday, August 31st. This represents a c) annualized dividend and a dividend yield of 6.7%. The ex-dividend date of this dividend is Tuesday, August 18th.
Gladstone Land has decreased its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Gladstone Land has a dividend payout ratio of -114.3% indicating that 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 $0.45 per share next year, which means the company may not be able to cover its $0.56 annual dividend with an expected future payout ratio of 124.4%.
Gladstone Land Stock Up 0.2%
LAND stock opened at $8.31 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.29 and a quick ratio of 0.47. The stock has a market capitalization of $358.47 million, a P/E ratio of -15.11 and a beta of 1.07. Gladstone Land has a fifty-two week low of $7.92 and a fifty-two week high of $13.00. The business has a 50-day moving average of $8.58 and a 200-day moving average of $9.82.
Institutional Investors Weigh In On Gladstone Land
Several large investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new position in shares of Gladstone Land in the second quarter valued at $29,231,000. Compass Financial Management LLC bought a new position in shares of Gladstone Land in the 2nd quarter valued at about $5,499,000. Renaissance Technologies LLC bought a new position in shares of Gladstone Land in the 1st quarter valued at about $5,165,000. Legal & General Group Plc acquired a new position in shares of Gladstone Land during the 2nd quarter worth about $5,206,000. Finally, Marshall Wace LLP acquired a new position in shares of Gladstone Land during the 4th quarter worth about $2,476,000. Institutional investors and hedge funds own 53.60% of the company’s stock.
About Gladstone Land
Gladstone Land Corporation (NASDAQ: LAND) is a publicly traded real estate investment trust (REIT) that specializes in the acquisition and ownership of farmland in the United States. Established in 2013 and headquartered in Wayne, Pennsylvania, the company focuses on purchasing high-quality agricultural properties and leasing them to farmers under long‐term, triple‐net lease agreements. This model provides tenants with operational flexibility while generating stable, recurring rental income for investors.
The company’s portfolio spans several key agricultural regions across the country, including California, the Midwest, and parts of the Southeast.
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