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

Gladstone Land Corporation (NASDAQ:LAND) announced a monthly dividend on Tuesday, October 13th. Investors of record on Thursday, November 19th will be given a dividend of $0.0467 per share by the real estate investment trust on Monday, November 30th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date of this dividend is Thursday, November 19th.

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. 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 Stock Up 0.5%

LAND stock opened at $9.67 on Wednesday. The company’s 50 day moving average price is $9.17 and its 200 day moving average price is $9.25. The firm has a market capitalization of $417.16 million, a price-to-earnings ratio of -17.58 and a beta of 1.10. Gladstone Land has a fifty-two week low of $7.92 and a fifty-two week high of $13.00. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.29 and a current ratio of 1.29.

Gladstone Land (NASDAQ:LAND) last issued its quarterly earnings results on Tuesday, August 11th. The real estate investment trust reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.06). Gladstone Land had a negative return on equity of 0.96% and a negative net margin of 7.31%. The firm had revenue of $12.69 million during the quarter, compared to analysts’ expectations of $12.28 million. On average, equities research analysts anticipate that Gladstone Land will post 0.48 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in LAND. BlackRock Inc. purchased a new position in Gladstone Land in the second quarter valued at approximately $29,231,000. Compass Financial Management LLC acquired a new stake in Gladstone Land during the second quarter worth approximately $5,499,000. Renaissance Technologies LLC acquired a new stake in Gladstone Land during the first quarter worth approximately $5,165,000. Bank of New York Mellon Corp purchased a new stake in shares of Gladstone Land during the 2nd quarter worth approximately $1,037,000. Finally, Deutsche Bank AG purchased a new stake in shares of Gladstone Land during the 2nd quarter worth approximately $622,000. 53.60% of the stock is owned by institutional investors and hedge funds.

About Gladstone Land

Gladstone Land Corporation (NASDAQ: LAND) is a real estate investment trust that owns and leases farmland in the United States. The company focuses on agricultural properties that produce a range of crops, including fruits, vegetables, and other specialty crops, as well as certain row crops.

Gladstone Land generally leases its properties to farmers and agricultural operators under long-term agreements, often structured as triple-net leases. These arrangements typically make tenants responsible for property-level operating costs, while Gladstone Land remains focused on owning and managing the underlying farmland.

Founded in 1997, the company has built a portfolio of farms across major U.S.