Gladstone Land (NASDAQ:LAND) Issues Quarterly Earnings Results

Gladstone Land (NASDAQ:LAND) announced its quarterly earnings data on Tuesday. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.24, FiscalAI reports. The firm had revenue of $31.47 million for the quarter, compared to analysts’ expectations of $16.54 million. Gladstone Land had a negative return on equity of 0.96% and a negative net margin of 7.31%.

Gladstone Land Trading Down 1.4%

Shares of NASDAQ LAND traded down $0.10 during mid-day trading on Tuesday, hitting $6.88. The stock had a trading volume of 972,380 shares, compared to its average volume of 693,635. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.29 and a current ratio of 1.29. Gladstone Land has a 1 year low of $6.83 and a 1 year high of $13.00. The business has a 50 day moving average price of $9.05 and a two-hundred day moving average price of $9.57. The firm has a market cap of $296.80 million, a P/E ratio of -12.51 and a beta of 1.17.

Gladstone Land Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, December 31st. Investors of record on Monday, December 21st will be paid a $0.0467 dividend. This represents a $0.56 annualized dividend and a dividend yield of 8.1%. The ex-dividend date of this dividend is Monday, December 21st. Gladstone Land’s payout ratio is presently -101.82%.

Analyst Ratings Changes

Separately, Weiss Ratings lowered Gladstone Land from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $10.00.

Gladstone Land Company Profile

Gladstone Land Corporation is a real estate investment trust (REIT) that owns and leases farmland. The company focuses primarily on high-quality agricultural properties that produce specialty crops, such as fruits, vegetables, nuts and vineyards, as well as annual row crops. Gladstone Land generally leases its properties to experienced farmers and agricultural operators under long-term, often triple-net lease agreements. These arrangements typically make tenants responsible for property operating expenses, while the company seeks to generate rental income from a diversified portfolio of farmland.