Gladstone Land (NASDAQ:LAND) Posts Quarterly Earnings Results, Beats Expectations By $0.19 EPS

Gladstone Land (NASDAQ:LAND) posted its quarterly earnings results on Wednesday. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.19, Zacks reports. Gladstone Land had a net margin of 16.45% and a return on equity of 2.05%.

Gladstone Land Price Performance

Shares of NASDAQ LAND traded down $0.17 during mid-day trading on Wednesday, hitting $11.52. 233,725 shares of the stock were exchanged, compared to its average volume of 339,830. The company has a market cap of $416.91 million, a P/E ratio of -44.31, a PEG ratio of 3.72 and a beta of 1.05. The stock’s fifty day simple moving average is $10.86 and its two-hundred day simple moving average is $12.43. 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.

Gladstone Land Increases Dividend

The company also recently disclosed a dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 27th were issued a dividend of $0.0467 per share. This is a positive change from Gladstone Land’s previous dividend of $0.04. The ex-dividend date of this dividend was Friday, January 24th. This represents a dividend yield of 5.33%. Gladstone Land’s dividend payout ratio (DPR) is presently -215.38%.

Wall Street Analysts Forecast Growth

Separately, Alliance Global Partners lowered shares of Gladstone Land from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $16.00 to $14.50 in a research report on Friday, November 8th.

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.