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

Gladstone Land Co. (NASDAQ:LAND) declared a dividend on Thursday, January 23rd,investing.com reports. Investors of record on Monday, January 27th will be given a dividend of 0.0467 per share by the real estate investment trust on Friday, January 31st. This represents a dividend yield of 5.37%. 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. 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 NASDAQ LAND traded down $0.02 during trading hours on Thursday, hitting $10.43. 344,406 shares of the company’s stock were exchanged, compared to its average volume of 317,443. Gladstone Land has a 1-year low of $10.27 and a 1-year high of $15.36. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a market capitalization of $377.46 million, a price-to-earnings ratio of -40.12, a PEG ratio of 3.54 and a beta of 1.05. The company’s 50-day moving average price is $11.19 and its 200-day moving average price is $12.92.

Gladstone Land (NASDAQ:LAND) last issued its quarterly earnings results 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 net margin of 16.45% and a return on equity of 2.05%. The firm had revenue of $22.57 million for the quarter, compared to the consensus estimate of $21.47 million. During the same quarter in the prior year, the firm earned $0.16 earnings per share. On average, sell-side analysts expect that Gladstone Land will post 0.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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