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

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. 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 hours on Wednesday, hitting $10.45. 687,508 shares of the company’s stock traded hands, compared to its average volume of 315,369. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.77. Gladstone Land has a twelve month low of $10.27 and a twelve month high of $15.36. The stock has a 50 day simple moving average of $11.23 and a 200-day simple moving average of $12.94. The company has a market cap of $378.19 million, a PE ratio of -40.19, a PEG ratio of 3.45 and a beta of 1.05.

Gladstone Land (NASDAQ:LAND) last posted 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). 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 for the quarter, compared to analysts’ expectations of $21.47 million. During the same quarter in the prior year, the firm earned $0.16 earnings per share. Equities research analysts anticipate that Gladstone Land will post 0.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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