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

Gladstone Land Co. (NASDAQ:LAND) declared a monthly dividend on Tuesday, April 8th, NASDAQ Dividends reports. Stockholders of record on Monday, April 21st will be given a dividend of 0.0467 per share by the real estate investment trust on Wednesday, April 30th. This represents a $0.56 annualized dividend and a dividend yield of 6.14%. The ex-dividend date of this dividend is Monday, April 21st.

Gladstone Land has a payout ratio of -175.0% indicating that 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 Down 2.5 %

LAND traded down $0.23 during trading on Thursday, hitting $9.12. The company had a trading volume of 470,304 shares, compared to its average volume of 254,550. The company has a market cap of $330.01 million, a PE ratio of -31.45, a P/E/G ratio of 3.74 and a beta of 1.15. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.99 and a quick ratio of 0.70. Gladstone Land has a 1-year low of $8.66 and a 1-year high of $15.36. The business has a 50-day moving average of $10.84 and a 200-day moving average of $11.62.

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

Insider Activity at Gladstone Land

In other Gladstone Land news, Director Anthony W. Parker sold 6,601 shares of the business’s 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 filing with the SEC, which is available through the SEC website. 7.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Gladstone Land from a “hold” rating to a “sell” rating in a research note 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.