Gladstone Land Co. (NASDAQ:LAND) Increases Dividend to $0.05 Per Share

Gladstone Land Co. (NASDAQ:LAND) announced a dividend on Tuesday, January 21st,investing.com reports. Stockholders of record on Monday, January 27th will be given a dividend of 0.0467 per share by the real estate investment trust on Friday, January 31st. This represents a dividend yield of 5.07%. The ex-dividend date of this dividend is Friday, January 24th. This is a positive change from Gladstone Land’s previous dividend of $0.04.

Gladstone Land has a payout ratio of -311.1% 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 $0.52 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 107.7%.

Gladstone Land Trading Up 2.7 %

NASDAQ LAND opened at $11.06 on Wednesday. The company’s 50-day simple moving average is $11.25 and its two-hundred day simple moving average is $12.96. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.70 and a quick ratio of 0.70. Gladstone Land has a one year low of $10.27 and a one year high of $15.36.

Gladstone Land (NASDAQ:LAND) last issued its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.16) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.29). The company had revenue of $22.57 million during the quarter, compared to analysts’ expectations of $21.47 million. Gladstone Land had a return on equity of 2.05% and a net margin of 16.45%. During the same period in the previous year, the firm posted $0.16 EPS. Analysts forecast that Gladstone Land will post 0.52 earnings per share for the current year.

Analyst Ratings Changes

Separately, Alliance Global Partners lowered shares of Gladstone Land from a “buy” rating to a “neutral” rating and dropped their price target for the company from $16.00 to $14.50 in a research note on Friday, November 8th.

About Gladstone Land

Founded in 1997, Gladstone Land is a publicly traded real estate investment trust that acquires and owns farmland and farm-related properties located in major agricultural markets in the U.S. and leases its properties to unrelated third-party farmers. The Company, which reports the aggregate fair value of its farmland holdings on a quarterly basis, currently owns 169 farms, comprised of approximately 116,000 acres in 15 different states and over 45,000 acre-feet of banked water in California, valued at a total of approximately $1.6 billion.