Gladstone Land Co. (NASDAQ:LAND) to Issue $0.05 Monthly Dividend

Gladstone Land Co. (NASDAQ:LAND) announced a monthly dividend on Tuesday, April 8th, NASDAQ Dividends reports. Shareholders of record on Monday, April 21st will be paid a dividend of 0.0467 per share by the real estate investment trust on Wednesday, April 30th. This represents a $0.56 annualized dividend and a yield of 6.14%. The ex-dividend date is Monday, April 21st.

Gladstone Land has a dividend payout ratio of -175.0% 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 $0.61 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 91.8%.

Gladstone Land Stock Down 2.5 %

Shares of LAND traded down $0.23 during midday trading on Thursday, hitting $9.12. The company had a trading volume of 470,304 shares, compared to its average volume of 254,550. The company’s 50-day simple moving average is $10.84 and its 200-day simple moving average is $11.62. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.70 and a current ratio of 0.99. Gladstone Land has a 1 year low of $8.66 and a 1 year high of $15.36. The firm has a market capitalization of $330.01 million, a P/E ratio of -31.45, a P/E/G ratio of 3.74 and a beta of 1.15.

Gladstone Land (NASDAQ:LAND) last announced its quarterly earnings results on Wednesday, February 19th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.19. The company had revenue of $21.10 million during the quarter, compared to the consensus estimate of $20.45 million. Gladstone Land had a return on equity of 1.89% and a net margin of 15.59%. As a group, sell-side analysts expect that Gladstone Land will post 0.52 EPS for the current year.

Insiders Place Their Bets

In related news, Director Anthony W. Parker sold 6,601 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $11.02, for a total transaction of $72,743.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 7.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Gladstone Land from a “hold” rating to a “sell” rating in a report on Wednesday, March 5th.

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.