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

Gladstone Land (NASDAQ:LAND) released its quarterly earnings results on Wednesday. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.19, Zacks reports. The firm had revenue of $21.10 million for the quarter, compared to the consensus estimate of $20.45 million. Gladstone Land had a return on equity of 2.05% and a net margin of 16.45%.

Gladstone Land Stock Up 1.9 %

Gladstone Land stock opened at $11.74 on Thursday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.70 and a quick ratio of 0.70. Gladstone Land has a 1-year low of $10.27 and a 1-year high of $15.36. The company has a market cap of $424.98 million, a PE ratio of -44.18, a price-to-earnings-growth ratio of 3.75 and a beta of 1.05. The stock’s 50 day moving average price is $10.86 and its 200 day moving average price is $12.41.

Gladstone Land Increases Dividend

The firm also recently declared a dividend, which was paid on Friday, January 31st. Investors of record on Monday, January 27th were paid a $0.0467 dividend. The ex-dividend date of this dividend was Friday, January 24th. This is an increase from Gladstone Land’s previous dividend of $0.04. This represents a dividend yield of 5.33%. Gladstone Land’s payout ratio is -215.38%.

Wall Street Analyst Weigh In

Separately, Alliance Global Partners downgraded Gladstone Land from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $16.00 to $14.50 in a research note 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.