Gladstone Land (NASDAQ:LAND) Increases Dividend to $0.04 Per Share

Gladstone Land (NASDAQ:LAND) announced a monthly dividend on Wednesday, April 11th, Wall Street Journal reports. Stockholders of record on Friday, April 20th will be given a dividend of 0.0443 per share by the real estate investment trust on Monday, April 30th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date is Thursday, April 19th. This is a boost from Gladstone Land’s previous monthly dividend of $0.04.

LAND stock opened at $12.76 on Thursday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 2.55. The firm has a market cap of $194.01, a P/E ratio of 22.89 and a beta of 0.87. Gladstone Land has a one year low of $10.77 and a one year high of $14.29.

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Gladstone Land (NASDAQ:LAND) last posted its quarterly earnings data on Tuesday, February 20th. The real estate investment trust reported ($0.02) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.17). The company had revenue of $6.81 million for the quarter. Gladstone Land had a negative net margin of 0.14% and a negative return on equity of 0.03%. research analysts predict that Gladstone Land will post 0.59 earnings per share for the current year.

In other news, Director Walter H. Wilkinson bought 4,700 shares of Gladstone Land stock in a transaction on Friday, February 23rd. The shares were bought at an average cost of $12.58 per share, with a total value of $59,126.00. Following the completion of the purchase, the director now directly owns 9,791 shares of the company’s stock, valued at $123,170.78. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.08% of the stock is owned by insiders.

A hedge fund recently raised its stake in Gladstone Land stock. Northern Trust Corp lifted its stake in shares of Gladstone Land (NASDAQ:LAND) by 16.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 53,439 shares of the real estate investment trust’s stock after buying an additional 7,673 shares during the quarter. Northern Trust Corp owned about 0.45% of Gladstone Land worth $624,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 24.36% of the company’s stock.

Separately, ValuEngine raised shares of Gladstone Land from a “hold” rating to a “buy” rating in a research note on Saturday, April 7th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. Gladstone Land presently has a consensus rating of “Hold” and a consensus price target of $14.63.

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About Gladstone Land

Gladstone Land is a publicly-traded real estate investment trust that invests in farmland and farm-related properties located in major agricultural markets in the U.S., which it leases to farmers, and pays monthly distributions to its stockholders. The Company reports the current fair value of its farmland on a quarterly basis; as of December 31, 2017, the estimated net asset value of the Company was $13.96 per share.

Dividend History for Gladstone Land (NASDAQ:LAND)

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