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

Gladstone Land Co. (NASDAQ:LAND) declared a dividend on Tuesday, January 21st,investing.com reports. Stockholders 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 dividend yield of 5.07%. The ex-dividend date is Friday, January 24th. This is a boost 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. Equities 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 Trading Up 2.7 %

LAND stock opened at $11.06 on Wednesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.70 and a quick ratio of 0.70. Gladstone Land has a 1-year low of $10.27 and a 1-year high of $15.36. The stock’s fifty day simple moving average is $11.25 and its two-hundred day simple moving average is $12.96.

Gladstone Land (NASDAQ:LAND) last announced its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported ($0.16) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.29). Gladstone Land had a net margin of 16.45% and a return on equity of 2.05%. The firm had revenue of $22.57 million for the quarter, compared to the consensus estimate of $21.47 million. During the same period last year, the company posted $0.16 earnings per share. On average, equities analysts expect that Gladstone Land will post 0.52 EPS for the current year.

Analysts Set New Price Targets

Separately, Alliance Global Partners downgraded shares of Gladstone Land from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $16.00 to $14.50 in a report on Friday, November 8th.

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 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.