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


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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.

LAND has been the topic of a number of recent research reports. BidaskClub cut shares of Gladstone Land from a “hold” rating to a “sell” rating in a research report on Wednesday, December 23rd. Zacks Investment Research lowered Gladstone Land from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, Berenberg Bank started coverage on Gladstone Land in a research report on Thursday, September 17th. They set a “buy” rating and a $18.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $17.60.

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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Dividend History for Gladstone Land (NASDAQ:LAND)

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