Gladstone Land (NASDAQ:LAND) Issues Quarterly Earnings Results, Beats Expectations By $0.27 EPS

Gladstone Land (NASDAQ:LAND) posted its earnings results on Tuesday. The real estate investment trust reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.27, FiscalAI reports. The business had revenue of $31.47 million during the quarter, compared to the consensus estimate of $16.54 million. Gladstone Land had a net margin of 2.42% and a return on equity of 0.37%.

Gladstone Land Price Performance

NASDAQ LAND opened at $7.36 on Thursday. The company has a 50-day moving average price of $8.96 and a 200-day moving average price of $9.55. Gladstone Land has a 52 week low of $6.83 and a 52 week high of $13.00. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $317.51 million, a P/E ratio of 8.91 and a beta of 1.17.

Gladstone Land Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Monday, December 21st will be given a dividend of $0.0467 per share. The ex-dividend date of this dividend is Monday, December 21st. This represents a $0.56 annualized dividend and a dividend yield of 7.6%. Gladstone Land’s dividend payout ratio is presently -101.82%.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Gladstone Land from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold”.

About Gladstone Land

Gladstone Land Corporation is a real estate investment trust focused on owning and leasing U.S. farmland. Its portfolio includes farms used to grow fresh produce and permanent crops, such as fruits and nuts, as well as land devoted to traditional row crops. The company generally leases its properties to farmers under long-term agreements. Its farms are located across multiple agricultural regions of the United States, and its portfolio may include related assets such as irrigation and water rights.