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

Gladstone Land Co. (NASDAQ:LAND) announced a dividend on Friday, January 24th,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 5.33%. The ex-dividend date is Friday, January 24th. This is an increase from Gladstone Land’s previous dividend of $0.04.

Gladstone Land has a dividend payout ratio of -311.1% 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 $0.52 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 Up 0.9 %

NASDAQ:LAND traded up $0.09 during midday trading on Friday, hitting $10.52. 334,826 shares of the company were exchanged, compared to its average volume of 318,615. Gladstone Land has a fifty-two week low of $10.27 and a fifty-two week high of $15.36. The company has a market capitalization of $380.67 million, a PE ratio of -40.46, a price-to-earnings-growth ratio of 3.35 and a beta of 1.05. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.77. The company has a fifty day simple moving average of $11.13 and a 200 day simple moving average of $12.88.

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

Wall Street Analyst Weigh In

Separately, Alliance Global Partners cut Gladstone Land from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $16.00 to $14.50 in a research note 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.