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

Gladstone Land Co. (NASDAQ:LAND) declared a dividend on Wednesday, January 22nd,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 5.36%. 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% indicating that 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 Price Performance

NASDAQ LAND traded down $0.61 during trading on Wednesday, reaching $10.45. 687,508 shares of the company traded hands, 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 market cap 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. The stock’s 50 day moving average price is $11.23 and its two-hundred day moving average price is $12.94. 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 (NASDAQ:LAND) last announced 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 net margin of 16.45% and a return on equity of 2.05%. The company had revenue of $22.57 million during the quarter, compared to analyst estimates of $21.47 million. During the same period in the prior year, the firm earned $0.16 EPS. As a group, analysts anticipate that Gladstone Land will post 0.52 EPS for the current year.

Wall Street Analysts Forecast Growth

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 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.