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

Gladstone Land Co. (NASDAQ:LAND) announced a dividend on Friday, January 24th,investing.com reports. Investors of record on Monday, January 27th will be paid 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 an increase 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. 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 Stock Performance

NASDAQ LAND traded up $0.09 on Friday, hitting $10.52. 334,826 shares of the company’s stock were exchanged, compared to its average volume of 318,615. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.70 and a quick ratio of 0.70. The firm’s 50-day moving average price is $11.13 and its two-hundred day moving average price is $12.88. The firm has a market cap of $380.67 million, a price-to-earnings ratio of -40.46, a P/E/G ratio of 3.35 and a beta of 1.05. Gladstone Land has a fifty-two week low of $10.27 and a fifty-two week high of $15.36.

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). Gladstone Land had a return on equity of 2.05% and a net margin of 16.45%. The company had revenue of $22.57 million for the quarter, compared to analyst estimates of $21.47 million. During the same period last year, the company earned $0.16 earnings per share. On average, research analysts expect that Gladstone Land will post 0.52 EPS for the current year.

Analysts Set New Price Targets

Separately, Alliance Global Partners lowered Gladstone Land from a “buy” rating to a “neutral” rating and decreased 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.