Gladstone Land Co. (LAND) To Go Ex-Dividend on March 19th

Gladstone Land Co. (NASDAQ:LAND) announced a monthly dividend on Thursday, January 16th, Wall Street Journal reports. Stockholders of record on Wednesday, March 19th will be given a dividend of 0.0467 per share by the real estate investment trust on Monday, March 31st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.18%. The ex-dividend date of this dividend is Wednesday, March 19th.

Gladstone Land has a payout ratio of -186.7% 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 $0.61 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 Performance

Gladstone Land stock opened at $10.82 on Monday. 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 one year low of $10.27 and a one year high of $15.36. The stock’s 50 day moving average price is $11.04 and its 200 day moving average price is $12.12. The firm has a market capitalization of $391.52 million, a PE ratio of -37.31, a price-to-earnings-growth ratio of 3.74 and a beta of 1.11.

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

Insider Activity at Gladstone Land

In other news, Director Anthony W. Parker sold 6,601 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $11.02, for a total value of $72,743.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 7.13% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.