Gladstone Land Co. (LAND) to Issue Dividend of $0.05 on January 31st

Gladstone Land Co. (NASDAQ:LAND) declared a dividend on Wednesday, January 22nd,investing.com reports. Shareholders of record on Monday, January 27th will be paid a dividend of 0.0467 per share by the real estate investment trust on Friday, January 31st. This represents a yield of 5.36%. The ex-dividend date is Friday, January 24th. This is a positive change from Gladstone Land’s previous dividend of $0.04.

Gladstone Land has a payout ratio of -311.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Gladstone Land to earn $0.52 per share next year, which means the company may not be able to cover its $0.56 annual dividend with an expected future payout ratio of 107.7%.

Gladstone Land Stock Down 5.5 %

Shares of Gladstone Land stock traded down $0.61 during trading on Wednesday, hitting $10.45. 687,508 shares of the stock traded hands, compared to its average volume of 315,369. The stock has a market cap of $378.19 million, a P/E ratio of -40.19, a PEG ratio of 3.45 and a beta of 1.05. The company has a fifty day moving average price of $11.23 and a two-hundred day moving average price of $12.94. Gladstone Land has a twelve month low of $10.27 and a twelve month high of $15.36. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.70 and a current ratio of 0.70.

Gladstone Land (NASDAQ:LAND) last posted its earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.16) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.29). Gladstone Land had a return on equity of 2.05% and a net margin of 16.45%. The business had revenue of $22.57 million during the quarter, compared to the consensus estimate of $21.47 million. During the same period in the prior year, the firm earned $0.16 earnings per share. Equities research analysts predict that Gladstone Land will post 0.52 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Alliance Global Partners cut Gladstone Land from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $16.00 to $14.50 in a research report on Friday, November 8th.

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.