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

Gladstone Land Co. (NASDAQ:LAND - Get Free Report) declared a monthly dividend on Wednesday, April 9th, Wall Street Journal reports. Stockholders 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 annualized dividend and a dividend yield of 5.95%. The ex-dividend date of this dividend is Friday, June 20th.

Gladstone Land has a payout ratio of -175.0% 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 $0.61 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 Up 2.6 %

Shares of NASDAQ:LAND traded up $0.24 during midday trading on Monday, reaching $9.42. The company had a trading volume of 310,022 shares, compared to its average volume of 255,492. The stock has a market capitalization of $340.86 million, a P/E ratio of -32.48, a PEG ratio of 3.74 and a beta of 1.15. The stock's fifty day moving average price is $10.78 and its 200-day moving average price is $11.54. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.99 and a quick ratio of 0.70. Gladstone Land has a one year low of $8.66 and a one year high of $15.36.

Gladstone Land (NASDAQ:LAND - Get Free Report) last released its earnings results on Wednesday, February 19th. The real estate investment trust reported $0.09 earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.19. The company had revenue of $21.10 million during the quarter, compared to the consensus estimate of $20.45 million. Gladstone Land had a net margin of 15.59% and a return on equity of 1.89%. Equities research analysts expect that Gladstone Land will post 0.52 earnings per share for the current fiscal year.

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Analysts Set New Price Targets

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

Insider Buying and Selling at Gladstone Land

In other Gladstone Land news, Director Anthony W. Parker sold 6,601 shares of Gladstone Land stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $11.02, for a total value of $72,743.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.