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

Gladstone Land Co. (NASDAQ:LAND) declared a dividend on Thursday, January 23rd,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 5.37%. The ex-dividend date of this dividend is Friday, January 24th. This is an increase from Gladstone Land’s previous dividend of $0.04.

Gladstone Land has a 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. Equities 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 Trading Down 0.2 %

NASDAQ:LAND traded down $0.02 during trading hours on Thursday, hitting $10.43. 344,406 shares of the stock were exchanged, compared to its average volume of 317,443. The company’s 50 day moving average is $11.19 and its two-hundred day moving average is $12.92. Gladstone Land has a twelve month low of $10.27 and a twelve month high of $15.36. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $377.46 million, a P/E ratio of -40.12, a price-to-earnings-growth ratio of 3.54 and a beta of 1.05.

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

Wall Street Analyst Weigh In

Separately, Alliance Global Partners downgraded Gladstone Land from a “buy” rating to a “neutral” rating and cut their price target for the company 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.