Gladstone Land Co. (NASDAQ:LAND) Plans Dividend Increase – $0.05 Per Share

Gladstone Land Co. (NASDAQ:LAND) announced a dividend on Friday, January 24th,investing.com reports. Shareholders 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 5.33%. The ex-dividend date of this dividend is Friday, January 24th. This is a boost from Gladstone Land’s previous dividend of $0.04.

Gladstone Land has a payout ratio of -311.1% 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 $0.52 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 Trading Up 0.9 %

LAND stock opened at $10.52 on Friday. The stock’s fifty day simple moving average is $11.13 and its 200-day simple moving average is $12.88. Gladstone Land has a 52-week low of $10.27 and a 52-week high of $15.36. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.70 and a current ratio of 0.70.

Gladstone Land (NASDAQ:LAND) last issued its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.29). Gladstone Land had a return on equity of 2.05% and a net margin of 16.45%. The business had revenue of $22.57 million during the quarter, compared to analyst estimates of $21.47 million. During the same period in the previous year, the business posted $0.16 earnings per share. Equities analysts predict that Gladstone Land will post 0.52 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Alliance Global Partners lowered shares of 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 report 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.