Gladstone Land Corporation (LAND) to Issue Monthly Dividend of $0.05 on June 30th

Gladstone Land Corporation (NASDAQ:LAND) declared a monthly dividend on Tuesday, April 14th. Shareholders of record on Tuesday, June 23rd will be paid a dividend of 0.0467 per share by the real estate investment trust on Tuesday, June 30th. This represents a c) annualized dividend and a yield of 6.5%. The ex-dividend date of this dividend is Tuesday, June 23rd.

Gladstone Land has decreased its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 2 consecutive years. Gladstone Land has a dividend payout ratio of -114.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Gladstone Land to earn $0.45 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 124.4%.

Gladstone Land Price Performance

Shares of Gladstone Land stock opened at $8.68 on Friday. The firm has a fifty day simple moving average of $9.58 and a 200-day simple moving average of $10.03. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.70. Gladstone Land has a 1-year low of $8.47 and a 1-year high of $13.00. The stock has a market capitalization of $374.24 million, a price-to-earnings ratio of -14.22 and a beta of 1.06.

Gladstone Land (NASDAQ:LAND) last posted its earnings results on Monday, May 11th. The real estate investment trust reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.02). The firm had revenue of $16.55 million during the quarter, compared to analyst estimates of $14.20 million. Gladstone Land had a negative net margin of 6.68% and a negative return on equity of 0.87%. On average, sell-side analysts expect that Gladstone Land will post 0.45 earnings per share for the current year.

Institutional Investors Weigh In On Gladstone Land

Several hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC acquired a new position in shares of Gladstone Land in the first quarter valued at $5,165,000. Marshall Wace LLP acquired a new stake in Gladstone Land during the fourth quarter worth $2,476,000. PFG Investments LLC boosted its stake in Gladstone Land by 611.8% during the fourth quarter. PFG Investments LLC now owns 295,533 shares of the real estate investment trust’s stock worth $2,704,000 after buying an additional 254,015 shares in the last quarter. NewEdge Advisors LLC increased its holdings in Gladstone Land by 1,521.9% in the 3rd quarter. NewEdge Advisors LLC now owns 266,414 shares of the real estate investment trust’s stock valued at $2,440,000 after buying an additional 249,988 shares during the period. Finally, Millennium Management LLC increased its holdings in Gladstone Land by 570.2% in the 3rd quarter. Millennium Management LLC now owns 283,538 shares of the real estate investment trust’s stock valued at $2,597,000 after buying an additional 241,231 shares during the period. Institutional investors own 53.60% of the company’s stock.

About Gladstone Land

Gladstone Land Corporation (NASDAQ: LAND) is a publicly traded real estate investment trust (REIT) that specializes in the acquisition and ownership of farmland in the United States. Established in 2013 and headquartered in Wayne, Pennsylvania, the company focuses on purchasing high-quality agricultural properties and leasing them to farmers under long‐term, triple‐net lease agreements. This model provides tenants with operational flexibility while generating stable, recurring rental income for investors.

The company’s portfolio spans several key agricultural regions across the country, including California, the Midwest, and parts of the Southeast.