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

Gladstone Land Co. (NASDAQ:LAND) announced a dividend on Tuesday, January 21st,investing.com reports. Stockholders of record on Monday, January 27th will be paid a dividend of 0.0467 per share by the real estate investment trust on Friday, January 31st. This represents a dividend yield of 5.07%. The ex-dividend date is Friday, January 24th. This is a boost from Gladstone Land’s previous dividend of $0.04.

Gladstone Land has a dividend payout ratio of -311.1% 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 $0.52 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 107.7%.

Gladstone Land Stock Performance

LAND stock opened at $11.06 on Wednesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.70 and a current ratio of 0.70. Gladstone Land has a twelve month low of $10.27 and a twelve month high of $15.36. The business has a fifty day moving average of $11.25 and a 200-day moving average of $12.96.

Gladstone Land (NASDAQ:LAND) last posted its earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.16) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.29). The firm had revenue of $22.57 million during the quarter, compared to analyst estimates of $21.47 million. Gladstone Land had a net margin of 16.45% and a return on equity of 2.05%. During the same period in the previous year, the company posted $0.16 EPS. As a group, equities research analysts predict that Gladstone Land will post 0.52 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Alliance Global Partners downgraded Gladstone Land from a “buy” rating to a “neutral” rating and reduced their target price for the company from $16.00 to $14.50 in a research note on Friday, November 8th.

Gladstone Land Company Profile

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.