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

Gladstone Land Co. (NASDAQ:LAND - Get Free Report) declared a dividend on Monday, April 21st, investing.com reports. Shareholders of record on Tuesday, April 22nd will be paid a dividend of 0.0467 per share by the real estate investment trust on Wednesday, April 30th. This represents a dividend yield of 5.75%. The ex-dividend date is Monday, April 21st.

Gladstone Land has a dividend 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 Down 0.5 %

Shares of LAND traded down $0.05 during mid-day trading on Thursday, reaching $9.75. The company had a trading volume of 185,750 shares, compared to its average volume of 389,602. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.70 and a current ratio of 0.99. The company has a market capitalization of $352.80 million, a price-to-earnings ratio of -33.62, a price-to-earnings-growth ratio of 3.74 and a beta of 1.15. The firm has a 50-day moving average price of $10.54 and a 200 day moving average price of $11.34. Gladstone Land has a 52 week low of $8.66 and a 52 week 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 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 analysts' expectations of $20.45 million. Gladstone Land had a return on equity of 1.89% and a net margin of 15.59%. On average, sell-side analysts forecast that Gladstone Land will post 0.52 EPS for the current year.

Wall Street Analyst Weigh In

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

Insider Activity at Gladstone Land

In other Gladstone Land news, Director Anthony W. Parker sold 6,601 shares of the company's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $11.02, for a total transaction of $72,743.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 7.20% of the stock is currently owned by insiders.

About Gladstone Land

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.