Gladstone Land Corporation (LAND) Issues Quarterly Earnings Results, Misses Estimates By $0.04 EPS
Gladstone Land Corporation (NASDAQ:LAND) posted its quarterly earnings results on Tuesday. The real estate investment trust reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.04, Bloomberg Earnings reports. Gladstone Land Corporation had a return on equity of 0.45% and a net margin of 2.10%.
Gladstone Land Corporation (NASDAQ LAND) traded down 0.39% on Tuesday, reaching $12.80. 247,189 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $11.63 and a 200-day moving average of $11.55. The stock has a market cap of $151.68 million, a price-to-earnings ratio of 355.56 and a beta of 1.03. Gladstone Land Corporation has a one year low of $9.51 and a one year high of $13.10.
The firm also recently announced a monthly dividend, which will be paid on Friday, September 29th. Shareholders of record on Wednesday, September 20th will be given a dividend of $0.044 per share. This represents a $0.53 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date of this dividend is Tuesday, September 19th. Gladstone Land Corporation’s dividend payout ratio (DPR) is 1,325.33%.
In related news, CEO David Gladstone bought 20,000 shares of the firm’s stock in a transaction on Wednesday, June 14th. The shares were bought at an average price of $11.38 per share, with a total value of $227,600.00. Following the completion of the transaction, the chief executive officer now directly owns 1,988,585 shares of the company’s stock, valued at approximately $22,630,097.30. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 21.87% of the company’s stock.
Several research firms recently commented on LAND. Singular Research began coverage on shares of Gladstone Land Corporation in a research note on Thursday, May 18th. They issued a “buy” rating and a $14.25 price target on the stock. Zacks Investment Research downgraded shares of Gladstone Land Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, Ladenburg Thalmann Financial Services reaffirmed a “buy” rating on shares of Gladstone Land Corporation in a research note on Wednesday, June 28th.
Gladstone Land Corporation Company Profile
Gladstone Land Corporation is an agricultural real estate investment trust (REIT). The Company is engaged in the business of owning and leasing farmland. The Company also owns various farm-related facilities, such as cooling facilities, buildings utilized for the storage and assembly of boxes for shipping produce (box barns), packinghouses, processing facilities and various storage facilities.
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