Gladstone Land Corp (NASDAQ:LAND) Declares Monthly Dividend of $0.05

Gladstone Land Corp (NASDAQ:LAND) announced a monthly dividend on Tuesday, July 9th, Zacks reports. Investors of record on Monday, July 22nd will be paid a dividend of 0.045 per share by the real estate investment trust on Wednesday, July 31st. This represents a $0.54 annualized dividend and a dividend yield of 4.71%. The ex-dividend date of this dividend 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 raised its dividend annually for the last 3 consecutive years. Gladstone Land has a 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 $0.54 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%.

Shares of LAND opened at $11.46 on Thursday. The company has a market capitalization of $215.64 million, a P/E ratio of 22.47 and a beta of 0.80. The company has a quick ratio of 3.44, a current ratio of 3.44 and a debt-to-equity ratio of 1.71. The firm’s 50 day moving average price is $11.91. Gladstone Land has a twelve month low of $11.12 and a twelve month 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) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.15). Gladstone Land had a return on equity of 1.73% and a net margin of 8.09%. The company had revenue of $7.83 million during the quarter. As a group, equities analysts predict that Gladstone Land will post 0.47 earnings per share for the current fiscal year.

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

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.

Further Reading: What are no-load funds?

Dividend History for Gladstone Land (NASDAQ:LAND)

Receive News & Ratings for Gladstone Land Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gladstone Land and related companies with MarketBeat.com's FREE daily email newsletter.