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

Gladstone Land (NASDAQ:LAND - Get Free Report) posted its quarterly earnings results on Wednesday. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.19, Zacks reports. The firm had revenue of $21.10 million during 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 1.88%.

Gladstone Land Price Performance

Gladstone Land stock 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. Gladstone Land has a 12 month low of $10.27 and a 12 month high of $15.36. The business's 50-day moving average is $10.87 and its two-hundred day moving average is $12.40. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.70 and a current ratio of 0.70. The stock 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 Increases Dividend

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

Wall Street Analyst Weigh In

Separately, Alliance Global Partners cut Gladstone Land from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $16.00 to $14.50 in a report on Friday, November 8th.

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.