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

Gladstone Land Co. (NASDAQ:LAND - Get Free Report) declared a dividend on Thursday, January 23rd,investing.com reports. Investors of record on Monday, January 27th will be given a dividend of 0.0467 per share by the real estate investment trust on Friday, January 31st. This represents a dividend yield of 5.37%. The ex-dividend date is Friday, January 24th. This is an increase 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

Shares of NASDAQ LAND traded down $0.02 during trading hours on Thursday, hitting $10.43. 344,406 shares of the company's stock were exchanged, compared to its average volume of 317,443. Gladstone Land has a 1-year low of $10.27 and a 1-year high of $15.36. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a market capitalization of $377.46 million, a price-to-earnings ratio of -40.12, a PEG ratio of 3.54 and a beta of 1.05. The company's 50-day moving average price is $11.19 and its 200-day moving average price is $12.92.

Gladstone Land (NASDAQ:LAND - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.29). Gladstone Land had a net margin of 16.45% and a return on equity of 2.05%. The firm had revenue of $22.57 million for the quarter, compared to the consensus estimate of $21.47 million. During the same quarter in the prior year, the firm earned $0.16 earnings per share. On average, sell-side analysts expect that Gladstone Land will post 0.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Alliance Global Partners lowered Gladstone Land from a "buy" rating to a "neutral" rating and lowered their price target 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.