Gladstone Land Corp (NASDAQ:LAND) Increases Dividend to $0.05 Per Share

Gladstone Land Corp (NASDAQ:LAND) announced a monthly dividend on Tuesday, July 9th, Zacks reports. Investors of record on Monday, July 22nd will be given a dividend of 0.045 per share by the real estate investment trust on Wednesday, July 31st. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date is Friday, July 19th. This is a positive change from Gladstone Land’s previous monthly dividend of $0.04.

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% indicating that 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 $0.54 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%.

Gladstone Land stock opened at $11.68 on Wednesday. The company has a debt-to-equity ratio of 1.71, a current ratio of 3.44 and a quick ratio of 3.44. Gladstone Land has a 52 week low of $11.12 and a 52 week high of $13.85. The firm has a market capitalization of $216.19 million, a P/E ratio of 22.65 and a beta of 0.80. The business’s 50-day moving average price is $11.93.

Gladstone Land (NASDAQ:LAND) last released its earnings results on Tuesday, May 7th. The real estate investment trust reported ($0.03) EPS for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.15). Gladstone Land had a return on equity of 1.73% and a net margin of 8.09%. The firm had revenue of $7.83 million for the quarter. On average, analysts expect that Gladstone Land will post 0.47 EPS for the current fiscal year.

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

Gladstone Land Company Profile

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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