Gladstone Land Co. (LAND) To Go Ex-Dividend on March 19th

Gladstone Land Co. (NASDAQ:LAND) declared a monthly dividend on Wednesday, January 15th, Wall Street Journal reports. Stockholders of record on Wednesday, March 19th will be given a dividend of 0.0467 per share by the real estate investment trust on Monday, March 31st. This represents a $0.56 annualized dividend and a dividend yield of 5.18%. The ex-dividend date is Wednesday, March 19th.

Gladstone Land has a dividend payout ratio of -186.7% 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 research analysts expect Gladstone Land to earn $0.61 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 91.8%.

Gladstone Land Stock Performance

NASDAQ:LAND opened at $10.82 on Monday. The company has a current ratio of 0.99, a quick ratio of 0.70 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $391.52 million, a P/E ratio of -37.31, a price-to-earnings-growth ratio of 3.74 and a beta of 1.11. The firm has a 50-day moving average price of $11.04 and a two-hundred day moving average price of $12.12. Gladstone Land has a twelve month low of $10.27 and a twelve month high of $15.36.

Gladstone Land (NASDAQ:LAND) last released its quarterly earnings results on Wednesday, February 19th. The real estate investment trust reported $0.09 earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.19. The company had revenue of $21.10 million during the quarter, compared to the consensus estimate of $20.45 million. Gladstone Land had a return on equity of 1.89% and a net margin of 15.59%. As a group, research analysts expect that Gladstone Land will post 0.52 earnings per share for the current fiscal year.

Insider Buying and Selling at Gladstone Land

In other Gladstone Land news, Director Anthony W. Parker sold 6,601 shares of Gladstone Land stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $11.02, for a total value of $72,743.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 7.13% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Gladstone Land from a “hold” rating to a “sell” rating in a research report on Wednesday, March 5th.

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.