Gladstone Land Co. (NASDAQ:LAND) Announces $0.05 Monthly Dividend

Gladstone Land Co. (NASDAQ:LAND) declared a monthly dividend on Tuesday, April 9th, Wall Street Journal reports. Shareholders of record on Friday, April 19th will be paid a dividend of 0.0466 per share by the real estate investment trust on Tuesday, April 30th. This represents a $0.56 annualized dividend and a yield of 4.51%. The ex-dividend date is Thursday, April 18th.

Gladstone Land has increased its dividend by an average of 1.0% annually over the last three years and has raised its dividend every year for the last 10 years. Gladstone Land has a dividend payout ratio of -193.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Gladstone Land to earn $0.70 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 80.0%.

Gladstone Land Stock Performance

Shares of LAND traded down $0.02 during trading on Wednesday, reaching $12.40. 127,808 shares of the company traded hands, compared to its average volume of 208,334. Gladstone Land has a twelve month low of $12.37 and a twelve month high of $17.48. The stock has a 50-day simple moving average of $13.12 and a 200-day simple moving average of $13.81. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.80 and a quick ratio of 1.80.

Institutional Investors Weigh In On Gladstone Land

A number of institutional investors have recently made changes to their positions in the stock. Federated Hermes Inc. increased its position in shares of Gladstone Land by 1.1% during the first quarter. Federated Hermes Inc. now owns 53,238 shares of the real estate investment trust’s stock valued at $1,939,000 after acquiring an additional 566 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Gladstone Land by 4.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,767 shares of the real estate investment trust’s stock valued at $308,000 after acquiring an additional 672 shares during the last quarter. Great West Life Assurance Co. Can increased its position in shares of Gladstone Land by 80.5% during the first quarter. Great West Life Assurance Co. Can now owns 1,565 shares of the real estate investment trust’s stock valued at $61,000 after acquiring an additional 698 shares during the last quarter. Advisor Group Holdings Inc. increased its position in shares of Gladstone Land by 1.9% during the fourth quarter. Advisor Group Holdings Inc. now owns 39,234 shares of the real estate investment trust’s stock valued at $720,000 after acquiring an additional 717 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Gladstone Land by 0.8% during the fourth quarter. JPMorgan Chase & Co. now owns 101,942 shares of the real estate investment trust’s stock valued at $1,869,000 after acquiring an additional 778 shares during the last quarter. 53.60% of the stock is currently owned by institutional investors and hedge funds.

About Gladstone Land

Founded in 1997, Gladstone Land is a publicly traded real estate investment trust that acquires and owns farmland and farm-related properties located in major agricultural markets in the U.S. and leases its properties to unrelated third-party farmers. The Company, which reports the aggregate fair value of its farmland holdings on a quarterly basis, currently owns 169 farms, comprised of approximately 116,000 acres in 15 different states and over 45,000 acre-feet of banked water in California, valued at a total of approximately $1.6 billion.