Gladstone Land Co. (LAND) To Go Ex-Dividend on June 18th

Gladstone Land Co. (NASDAQ:LAND) announced a monthly dividend on Monday, April 15th, Wall Street Journal reports. Investors of record on Wednesday, June 19th will be paid a dividend of 0.0466 per share by the real estate investment trust on Friday, June 28th. This represents a $0.56 annualized dividend and a yield of 4.50%. The ex-dividend date of this dividend is Tuesday, June 18th.

Gladstone Land has raised its dividend payment by an average of 1.0% per year over the last three years and has increased its dividend annually for the last 10 consecutive years. Gladstone Land has a payout ratio of -193.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 Price Performance

Gladstone Land stock opened at $12.42 on Wednesday. Gladstone Land has a 52-week low of $12.41 and a 52-week high of $17.48. The stock’s 50 day moving average price is $13.12 and its two-hundred day moving average price is $13.81. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.80 and a current ratio of 1.80.

Hedge Funds Weigh In On Gladstone Land

A number of large investors have recently modified their holdings of LAND. Virtu Financial LLC purchased a new stake in shares of Gladstone Land during the 4th quarter valued at $158,000. Tower Research Capital LLC TRC increased its position in shares of Gladstone Land by 30.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,824 shares of the real estate investment trust’s stock valued at $156,000 after purchasing an additional 2,554 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Gladstone Land during the 4th quarter valued at $95,000. Quantbot Technologies LP purchased a new stake in shares of Gladstone Land during the 1st quarter valued at $80,000. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Gladstone Land during the 1st quarter valued at $74,000. 53.60% of the stock is currently owned by institutional investors.

Gladstone Land Company Profile

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.