Gladstone Land Co. (NASDAQ:LAND) Increases Dividend to $0.05 Per Share

Gladstone Land Co. (NASDAQ:LAND) declared a dividend on Tuesday, January 21st,investing.com reports. Investors of record on Monday, January 27th will be given a dividend of 0.0467 per share by the real estate investment trust on Friday, January 31st. This represents a yield of 5.07%. The ex-dividend date of this dividend is Friday, January 24th. This is a positive change from Gladstone Land’s previous dividend of $0.04.

Gladstone Land has a dividend payout ratio of -311.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Gladstone Land to earn $0.52 per share next year, which means the company may not be able to cover its $0.56 annual dividend with an expected future payout ratio of 107.7%.

Gladstone Land Price Performance

Shares of LAND stock opened at $11.06 on Wednesday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.77. Gladstone Land has a 12-month low of $10.27 and a 12-month high of $15.36. The stock’s 50-day moving average price is $11.25 and its 200-day moving average price is $12.96.

Gladstone Land (NASDAQ:LAND) last released its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported ($0.16) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.29). Gladstone Land had a net margin of 16.45% and a return on equity of 2.05%. The business had revenue of $22.57 million for the quarter, compared to the consensus estimate of $21.47 million. During the same quarter last year, the business earned $0.16 EPS. Analysts expect that Gladstone Land will post 0.52 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Alliance Global Partners downgraded Gladstone Land from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $16.00 to $14.50 in a research 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.