Gladstone Land Co. Plans Monthly Dividend of $0.05 (NASDAQ:LAND)

Gladstone Land Co. (NASDAQ:LAND) announced a monthly dividend on Wednesday, January 15th, Wall Street Journal reports. Stockholders of record on Wednesday, March 19th will be paid a dividend of 0.0467 per share by the real estate investment trust on Monday, March 31st. This represents a $0.56 annualized dividend and a dividend yield of 5.18%. The ex-dividend date of this dividend is Wednesday, March 19th.

Gladstone Land has a dividend payout ratio of -186.7% meaning 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 $0.61 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 91.8%.

Gladstone Land Stock Up 2.4 %

NASDAQ:LAND opened at $10.82 on Monday. The business’s fifty day moving average price is $11.04 and its 200 day moving average price is $12.12. The firm has a market capitalization of $391.52 million, a price-to-earnings ratio of -37.31, a PEG ratio of 3.74 and a beta of 1.11. The company has a current ratio of 0.99, a quick ratio of 0.70 and a debt-to-equity ratio of 0.77. Gladstone Land has a 1-year low of $10.27 and a 1-year high of $15.36.

Gladstone Land (NASDAQ:LAND) last posted its quarterly earnings results on Wednesday, February 19th. 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. Gladstone Land had a net margin of 15.59% and a return on equity of 1.89%. The business had revenue of $21.10 million during the quarter, compared to analyst estimates of $20.45 million. On average, sell-side analysts forecast that Gladstone Land will post 0.52 earnings per share for the current fiscal year.

Insider Buying and Selling at Gladstone Land

In related news, Director Anthony W. Parker sold 6,601 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $11.02, for a total value of $72,743.02. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 7.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Gladstone Land from a “hold” rating to a “sell” rating in a research report on Wednesday, March 5th.

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.