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

Gladstone Land Co. (NASDAQ:LAND) announced a dividend on Wednesday, January 22nd,investing.com reports. Investors 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 positive change from Gladstone Land’s previous dividend of $0.04.

Gladstone Land has a dividend 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 Stock Down 5.5 %

LAND stock traded down $0.61 during midday trading on Wednesday, reaching $10.45. 687,508 shares of the company were exchanged, compared to its average volume of 315,369. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.70 and a current 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 50-day simple moving average is $11.23 and its 200 day simple moving average is $12.94. The company has a market cap of $378.19 million, a price-to-earnings ratio of -40.19, a price-to-earnings-growth ratio of 3.45 and a beta of 1.05.

Gladstone Land (NASDAQ:LAND) last released its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.29). The company had revenue of $22.57 million for the quarter, compared to analyst estimates 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. On average, equities analysts forecast that Gladstone Land will post 0.52 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Alliance Global Partners lowered shares of Gladstone Land from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $16.00 to $14.50 in a research report 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.