Gladstone Land (NASDAQ:LAND) Posts Quarterly Earnings Results, Beats Estimates By $0.24 EPS

Gladstone Land (NASDAQ:LAND) announced its earnings results on Tuesday. The real estate investment trust reported $0.14 earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.24, FiscalAI reports. Gladstone Land had a negative return on equity of 0.96% and a negative net margin of 7.31%. The firm had revenue of $31.47 million during the quarter, compared to the consensus estimate of $16.54 million.

Gladstone Land Price Performance

Shares of NASDAQ:LAND traded down $0.10 on Tuesday, hitting $6.88. The stock had a trading volume of 968,877 shares, compared to its average volume of 692,614. The firm’s 50 day moving average price is $9.05 and its 200-day moving average price is $9.57. 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 has a twelve month low of $6.83 and a twelve month high of $13.00. The company has a market capitalization of $296.80 million, a price-to-earnings ratio of -12.51 and a beta of 1.17.

Gladstone Land Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Monday, December 21st will be issued a dividend of $0.0467 per share. The ex-dividend date of this dividend is Monday, December 21st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 8.1%. Gladstone Land’s dividend payout ratio (DPR) is presently -101.82%.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of Gladstone Land from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $10.00.

Gladstone Land Company Profile

Gladstone Land Corporation is a real estate investment trust (REIT) that owns and leases farmland. The company focuses primarily on high-quality agricultural properties that produce specialty crops, such as fruits, vegetables, nuts and vineyards, as well as annual row crops. Gladstone Land generally leases its properties to experienced farmers and agricultural operators under long-term, often triple-net lease agreements. These arrangements typically make tenants responsible for property operating expenses, while the company seeks to generate rental income from a diversified portfolio of farmland.