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

Gladstone Land Co. (NASDAQ:LAND) announced a dividend on Wednesday, January 22nd,investing.com reports. Shareholders 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 dividend yield of 5.36%. The ex-dividend date is Friday, January 24th. This is a positive change 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. Equities 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 Price Performance

Shares of LAND traded down $0.61 during trading hours on Wednesday, reaching $10.45. The company had a trading volume of 687,508 shares, compared to its average volume of 315,369. The company has a market capitalization of $378.19 million, a price-to-earnings ratio of -40.19, a PEG ratio of 3.45 and a beta of 1.05. Gladstone Land has a 12-month low of $10.27 and a 12-month high of $15.36. The firm has a 50 day simple moving average of $11.23 and a 200-day simple moving average of $12.94. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.77.

Gladstone Land (NASDAQ:LAND) last announced its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.16) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.29). The firm had revenue of $22.57 million for the quarter, compared to analysts’ expectations of $21.47 million. Gladstone Land had a return on equity of 2.05% and a net margin of 16.45%. During the same period last year, the firm earned $0.16 EPS. Research analysts expect that Gladstone Land will post 0.52 earnings per share for the current year.

Analyst Ratings Changes

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