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

Gladstone Land Co. (NASDAQ:LAND) announced a monthly dividend on Thursday, April 10th, Wall Street Journal reports. Stockholders of record on Friday, June 20th will be given a dividend of 0.0467 per share by the real estate investment trust on Monday, June 30th. This represents a $0.56 annualized dividend and a dividend yield of 6.10%. The ex-dividend date is Friday, June 20th.

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 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 Trading Up 0.7 %

Shares of LAND opened at $9.18 on Friday. The stock’s fifty day simple moving average is $10.78 and its 200-day simple moving average is $11.56. The firm has a market capitalization of $332.18 million, a PE ratio of -31.65, a price-to-earnings-growth ratio of 3.74 and a beta of 1.15. Gladstone Land has a 12-month low of $8.66 and a 12-month high of $15.36. The company has a quick ratio of 0.70, a current ratio of 0.99 and a debt-to-equity ratio of 0.77.

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

Insider Transactions at Gladstone Land

In other news, Director Anthony W. Parker sold 6,601 shares of Gladstone Land stock in a transaction 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 legal filing with the SEC, which is available through this link. Corporate 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 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.