Gladstone Land Corporation (NASDAQ:LAND) Plans Monthly Dividend of $0.05

Gladstone Land Corporation (NASDAQ:LAND) announced a monthly dividend on Tuesday, October 13th. Investors of record on Monday, December 21st will be given a dividend of $0.0467 per share by the real estate investment trust on Thursday, December 31st. This represents a $0.56 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend is Monday, December 21st.

Gladstone Land has a payout ratio of -114.3% meaning 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 $0.45 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 124.4%.

Gladstone Land Stock Up 0.5%

Shares of LAND opened at $9.67 on Wednesday. The firm has a market cap of $417.16 million, a P/E ratio of -17.58 and a beta of 1.10. Gladstone Land has a 12 month low of $7.92 and a 12 month high of $13.00. The stock’s 50 day moving average is $9.17 and its two-hundred day moving average is $9.25. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.72.

Gladstone Land (NASDAQ:LAND) last posted its quarterly earnings data on Tuesday, August 11th. The real estate investment trust reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.06). Gladstone Land had a negative net margin of 7.31% and a negative return on equity of 0.96%. The firm had revenue of $12.69 million during the quarter, compared to analyst estimates of $12.28 million. Analysts predict that Gladstone Land will post 0.48 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded Gladstone Land from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $10.00.

Gladstone Land Company Profile

Gladstone Land Corporation (NASDAQ: LAND) is a real estate investment trust that owns and leases farmland in the United States. The company focuses on agricultural properties that produce a range of crops, including fruits, vegetables, and other specialty crops, as well as certain row crops.

Gladstone Land generally leases its properties to farmers and agricultural operators under long-term agreements, often structured as triple-net leases. These arrangements typically make tenants responsible for property-level operating costs, while Gladstone Land remains focused on owning and managing the underlying farmland.

Founded in 1997, the company has built a portfolio of farms across major U.S.