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

Gladstone Land Co. (NASDAQ:LAND) declared a dividend on Tuesday, January 21st,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 yield of 5.07%. 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 Price Performance

NASDAQ:LAND traded up $0.29 during trading hours on Tuesday, reaching $11.06. 422,171 shares of the company were exchanged, compared to its average volume of 284,356. The company has a market capitalization of $400.26 million, a P/E ratio of -42.54, a P/E/G ratio of 3.45 and a beta of 1.05. 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 business has a 50 day moving average of $11.25 and a 200 day moving average of $12.96.

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 (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.29). The firm had revenue of $22.57 million during the quarter, compared to analyst estimates of $21.47 million. Gladstone Land had a net margin of 16.45% and a return on equity of 2.05%. During the same period in the prior year, the company earned $0.16 EPS. Research analysts forecast that Gladstone Land will post 0.52 EPS for the current year.

Analysts Set New Price Targets

Separately, Alliance Global Partners downgraded 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 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.