Gladstone Land Co. (NASDAQ:LAND) announced a monthly dividend on Tuesday, January 12th, Zacks reports. Stockholders of record on Friday, January 22nd will be paid a dividend of 0.045 per share by the real estate investment trust on Friday, January 29th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date is Thursday, January 21st. This is a boost from Gladstone Land’s previous monthly dividend of $0.04.
Gladstone Land has raised its dividend by 2.6% over the last three years and has raised its dividend annually for the last 5 consecutive years.
Shares of Gladstone Land stock opened at $14.62 on Thursday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.59. The company’s 50-day moving average price is $14.66 and its 200-day moving average price is $15.07. The company has a market cap of $352.25 million, a price-to-earnings ratio of -121.78 and a beta of 0.74. Gladstone Land has a 12-month low of $9.61 and a 12-month high of $16.76.
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 127 farms, comprised of approximately 94,000 acres in 13 different states, valued at approximately $1.0 billion.
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