Gladstone Land Co. (NASDAQ:LAND) Declares Dividend of $0.05

Gladstone Land Co. (NASDAQ:LAND) announced 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 of this dividend 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. 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 Performance

Shares of Gladstone Land stock traded down $0.61 during trading hours on Wednesday, hitting $10.45. 687,508 shares of the company were exchanged, compared to its average volume of 315,369. Gladstone Land has a 1 year low of $10.27 and a 1 year high of $15.36. 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 business has a 50-day moving average of $11.23 and a 200-day moving average of $12.94. The stock has a market capitalization of $378.19 million, a price-to-earnings ratio of -40.19, a P/E/G ratio of 3.45 and a beta of 1.05.

Gladstone Land (NASDAQ:LAND) last released its quarterly 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 company had revenue of $22.57 million for the quarter, compared to analysts’ expectations of $21.47 million. During the same quarter last year, the company earned $0.16 EPS. As a group, analysts expect that Gladstone Land will post 0.52 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Alliance Global Partners lowered Gladstone Land from a “buy” rating to a “neutral” rating and lowered their target price 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.