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

Gladstone Land Co. (NASDAQ:LAND) declared a dividend on Friday, January 24th,investing.com reports. Shareholders 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 5.33%. 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. Equities research 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 Trading Up 0.9 %

Shares of NASDAQ LAND opened at $10.52 on Friday. 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 1-year low of $10.27 and a 1-year high of $15.36. The business has a 50-day moving average of $11.13 and a 200-day moving average of $12.88.

Gladstone Land (NASDAQ:LAND) last issued 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 last year, the business earned $0.16 EPS. As a group, equities analysts anticipate that Gladstone Land will post 0.52 EPS 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 cut their price objective for the stock from $16.00 to $14.50 in a 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.