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

Gladstone Land Co. (NASDAQ:LAND) announced a monthly dividend on Tuesday, April 8th, NASDAQ Dividends reports. Stockholders of record on Monday, April 21st will be paid 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% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research 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 %

NASDAQ:LAND traded down $0.23 during midday trading on Thursday, hitting $9.12. 470,304 shares of the company were exchanged, compared to its average volume of 254,550. Gladstone Land has a fifty-two week low of $8.66 and a fifty-two week high of $15.36. The company has a market capitalization of $330.01 million, a PE ratio of -31.45, a price-to-earnings-growth ratio of 3.74 and a beta of 1.15. The company has a current ratio of 0.99, a quick ratio of 0.70 and a debt-to-equity ratio of 0.77. The company has a fifty day simple moving average of $10.84 and a 200 day simple moving average of $11.62.

Gladstone Land (NASDAQ:LAND) last announced 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. The firm had revenue of $21.10 million during the quarter, compared to analysts’ expectations of $20.45 million. Gladstone Land had a return on equity of 1.89% and a net margin of 15.59%. As a group, equities analysts anticipate that Gladstone Land will post 0.52 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com cut Gladstone Land from a “hold” rating to a “sell” rating in a research report on Wednesday, March 5th.

Insider Activity at Gladstone Land

In other Gladstone Land news, Director Anthony W. Parker sold 6,601 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $11.02, for a total value of $72,743.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 7.20% of the stock is owned by insiders.

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.