Gladstone Land Corporation (NASDAQ:LAND) Declares Monthly Dividend of $0.05

Gladstone Land Corporation (NASDAQ:LAND) declared a monthly dividend on Tuesday, July 14th. Investors of record on Friday, July 24th will be given a dividend of 0.0467 per share by the real estate investment trust on Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 6.5%. The ex-dividend date is Friday, July 24th.

Gladstone Land has decreased its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 2 consecutive years. Gladstone Land has a 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. Equities 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 NASDAQ:LAND opened at $8.66 on Wednesday. The business has a 50 day moving average price of $9.07 and a 200 day moving average price of $9.99. Gladstone Land has a twelve month low of $8.40 and a twelve month high of $13.00. The company has a market cap of $373.59 million, a price-to-earnings ratio of -14.20 and a beta of 1.06. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.70.

Gladstone Land (NASDAQ:LAND) last released 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). Gladstone Land had a negative net margin of 6.68% and a negative return on equity of 0.87%. The business had revenue of $16.55 million during the quarter, compared to analyst estimates of $14.20 million. Research analysts predict that Gladstone Land will post 0.45 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on LAND shares. Weiss Ratings downgraded shares of Gladstone Land from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 13th. Lucid Cap Mkts upgraded shares of Gladstone Land from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 14th. Finally, Wall Street Zen downgraded shares of Gladstone Land from a “sell” rating to a “strong sell” rating in a report on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $10.00.

Gladstone Land Company Profile

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.