Gladstone Land Co. (NASDAQ:LAND - Get Free Report) announced a monthly dividend on Tuesday, January 14th, NASDAQ Dividends reports. Stockholders of record on Wednesday, February 19th will be paid a dividend of 0.0467 per share by the real estate investment trust on Friday, February 28th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.80%. The ex-dividend date of this dividend is Wednesday, February 19th.
Gladstone Land has a dividend payout ratio of -350.0% 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 Trading Up 1.4 %
Shares of LAND stock traded up $0.17 during trading hours on Thursday, reaching $11.69. The company's stock had a trading volume of 388,777 shares, compared to its average volume of 341,320. The stock has a market capitalization of $422.88 million, a P/E ratio of -44.94, a P/E/G ratio of 3.75 and a beta of 1.05. Gladstone Land has a one year low of $10.27 and a one year high of $15.36. The firm's fifty day simple moving average is $10.87 and its 200 day simple moving average is $12.40. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.77.
Gladstone Land (NASDAQ:LAND - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported $0.09 earnings per share for the quarter, topping analysts' consensus estimates of ($0.10) by $0.19. Gladstone Land had a return on equity of 2.05% and a net margin of 16.45%. The firm had revenue of $21.10 million for the quarter, compared to analyst estimates of $20.45 million. Equities research analysts expect that Gladstone Land will post 0.49 EPS for the current year.
Analyst Ratings Changes
Separately, Alliance Global Partners lowered Gladstone Land from a "buy" rating to a "neutral" rating and dropped their price target for the company from $16.00 to $14.50 in a research report on Friday, November 8th.
Get Our Latest Analysis on Gladstone Land
Gladstone Land Company Profile
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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.
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