Gladstone Land (NASDAQ:LAND) Posts Quarterly Earnings Results, Beats Estimates By $0.19 EPS

Gladstone Land (NASDAQ:LAND - Get Free Report) released its earnings results on Wednesday. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.10) by $0.19, Zacks reports. Gladstone Land had a return on equity of 1.88% and a net margin of 15.59%. The company had revenue of $21.10 million during the quarter, compared to analyst estimates of $20.45 million.

Gladstone Land Stock Performance

Shares of NASDAQ LAND traded down $0.57 during trading hours on Friday, hitting $11.10. 617,103 shares of the stock were exchanged, compared to its average volume of 349,429. 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 company's 50 day moving average is $10.87 and its 200 day moving average is $12.40. The firm has a market capitalization of $401.71 million, a P/E ratio of -38.27, a P/E/G ratio of 3.69 and a beta of 1.05. Gladstone Land has a one year low of $10.27 and a one year high of $15.36.

Gladstone Land Increases Dividend

The company also recently declared a dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 27th were given a $0.0467 dividend. This is a positive change from Gladstone Land's previous dividend of $0.04. The ex-dividend date was Friday, January 24th. This represents a dividend yield of 5.33%. Gladstone Land's dividend payout ratio (DPR) is currently -193.10%.

Analyst Upgrades and Downgrades

Separately, Alliance Global Partners downgraded Gladstone Land from a "buy" rating to a "neutral" rating and reduced their price objective for the stock 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.