Gladstone Land Co. (NASDAQ:LAND - Get Free Report) declared a monthly dividend on Thursday, April 10th, Wall Street Journal reports. Shareholders of record on Friday, June 20th will be given a dividend of 0.0467 per share by the real estate investment trust on Monday, June 30th. This represents a $0.56 dividend on an annualized basis and a yield of 5.84%. The ex-dividend date is Friday, June 20th.
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. 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 Performance
Shares of NASDAQ:LAND traded up $0.18 during trading on Tuesday, reaching $9.60. 192,374 shares of the stock were exchanged, compared to its average volume of 255,349. 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 firm has a market cap of $347.38 million, a PE ratio of -33.10, a PEG ratio of 3.74 and a beta of 1.15. The stock has a 50-day moving average price of $10.75 and a 200-day moving average price of $11.51. Gladstone Land has a 12 month low of $8.66 and a 12 month high of $15.36.
Gladstone Land (NASDAQ:LAND - Get Free Report) last announced its earnings results on Wednesday, February 19th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.10) by $0.19. The firm had revenue of $21.10 million for the quarter, compared to analyst estimates of $20.45 million. Gladstone Land had a net margin of 15.59% and a return on equity of 1.89%. Research analysts expect that Gladstone Land will post 0.52 EPS for the current fiscal year.
Insider Transactions at Gladstone Land
In related news, Director Anthony W. Parker sold 6,601 shares of Gladstone Land 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 Securities & Exchange Commission, which is available at this link. 7.20% of the stock is owned by company insiders.
Analyst Ratings Changes
Separately, StockNews.com downgraded shares of Gladstone Land from a "hold" rating to a "sell" rating in a research report on Wednesday, March 5th.
Check Out Our Latest Analysis on LAND
Gladstone Land Company Profile
(
Get Free Report)
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.
Featured Stories
Before you consider Gladstone Land, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Gladstone Land wasn't on the list.
While Gladstone Land currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
