Gladstone Land (NASDAQ:LAND) Issues Quarterly Earnings Results

Gladstone Land (NASDAQ:LAND) issued its quarterly earnings results on Monday. The real estate investment trust reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03, Zacks reports. The business had revenue of $16.80 million for the quarter, compared to analyst estimates of $17.30 million. Gladstone Land had a return on equity of 1.89% and a net margin of 15.59%.

Gladstone Land Stock Up 0.3%

NASDAQ:LAND opened at $9.65 on Tuesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.99 and a quick ratio of 0.70. The company’s fifty day moving average price is $10.07 and its 200-day moving average price is $10.97. 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 $349.19 million, a P/E ratio of -33.27, a PEG ratio of 3.74 and a beta of 1.15.

Gladstone Land Announces Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 22nd were issued a $0.0467 dividend. This represents a dividend yield of 5.75%. The ex-dividend date was Monday, April 21st. Gladstone Land’s dividend payout ratio (DPR) is currently -193.10%.

Insider Activity

In related news, Director Anthony W. Parker sold 6,601 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $11.02, for a total transaction of $72,743.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 7.20% of the company’s stock.

Wall Street Analysts Forecast Growth

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.