Gladstone Land Co. Announces Monthly Dividend of $0.0467

Gladstone Land Co. (NASDAQ:LAND) recently declared a monthly dividend on Friday, October 11th. According to reports, shareholders of record on Wednesday, November 20th will receive a dividend of $0.0467 per share. This payment will be made by the real estate investment trust on Friday, November 29th. The annualized dividend amounts to $0.56, which translates to a yield of 4.15%. It is important to note that the ex-dividend date is set for Wednesday, November 20th.

Dividend Coverage and Financial Insights

Gladstone Land has a dividend payout ratio of -147.4%, indicating that the company currently cannot cover its dividend payments with its earnings. This means it relies on its balance sheet to manage these payments. Analysts project that Gladstone Land will earn $0.56 per share in the coming year, suggesting that the company may struggle to sustain its annual dividend given an expected payout ratio of 100.0%.

Trading Performance

In recent trading, shares of Gladstone Land (LAND) rose by $0.05, reaching $13.51 during mid-day trades. The stock saw a trading volume of 130,103 shares, which is lower than its average volume of 180,632 shares. Over the past year, Gladstone Land has seen a share price range between a low of $12.31 and a high of $15.36. The company holds a market capitalization of $484.20 million, with a price-to-earnings (P/E) ratio of -75.05, a PEG ratio of 4.37, and a beta of 1.07. Additionally, its debt-to-equity ratio stands at 0.78, while both its quick ratio and current ratio are at 4.43. The 50-day moving average for the stock is $13.82, and its 200-day moving average is $13.60.

Analyst Ratings and Future Outlook

On a related note, analysts from Maxim Group reduced their rating for Gladstone Land from "buy" to "hold" on August 12th. Currently, two analysts have rated the stock as a hold, while two others maintain a buy rating. As per data from MarketBeat, the consensus rating for the stock is classified as "Moderate Buy," with a consensus price target of $16.00.

About Gladstone Land

Founded in 1997, Gladstone Land is a publicly traded real estate investment trust (REIT) that specializes in acquiring and owning farmland and farm-related properties. The company operates mainly in prominent agricultural markets across the United States, leasing its properties to external farmers. Gladstone Land oversees a diverse portfolio of 169 farms, covering around 116,000 acres in 15 states, along with more than 45,000 acre-feet of banked water in California, which boasts a combined value of approximately $1.6 billion.

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