Gladstone Land Corporation (NASDAQ:LAND – Get Free Report) declared a monthly dividend on Tuesday, July 14th. Stockholders of record on Monday, September 21st will be given a dividend of 0.0467 per share by the real estate investment trust on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date is Monday, September 21st.
Gladstone Land has decreased its dividend by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 2 years. Gladstone Land has a dividend payout ratio of -114.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Performance
Shares of LAND opened at $8.66 on Wednesday. The firm has a market capitalization of $373.59 million, a P/E ratio of -14.20 and a beta of 1.06. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.47 and a quick ratio of 0.47. Gladstone Land has a one year low of $8.40 and a one year high of $13.00. The business has a fifty day moving average of $9.07 and a 200 day moving average of $9.99.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on LAND. Weiss Ratings cut Gladstone Land from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 13th. Wall Street Zen lowered shares of Gladstone Land from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. Finally, Lucid Cap Mkts raised shares of Gladstone Land from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $10.00.
Get Our Latest Report on Gladstone Land
Gladstone Land Company Profile
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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