Gladstone Land (NASDAQ:LAND) Issues Quarterly Earnings Results

Gladstone Land (NASDAQ:LAND) issued its quarterly earnings results on Wednesday. The real estate investment trust reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.10) by $0.19, Zacks reports. Gladstone Land had a return on equity of 2.05% and a net margin of 16.45%.

Gladstone Land Stock Performance

Shares of LAND traded down $0.12 on Wednesday, reaching $11.52. 233,725 shares of the stock traded hands, compared to its average volume of 339,818. The firm has a market cap of $416.91 million, a price-to-earnings ratio of -44.31, a P/E/G ratio of 3.72 and a beta of 1.05. 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 12 month low of $10.27 and a 12 month high of $15.36. The stock’s 50-day moving average price is $10.86 and its 200-day moving average price is $12.43.

Gladstone Land Increases Dividend

The company also recently disclosed a dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 27th were given a dividend of $0.0467 per share. The ex-dividend date was Friday, January 24th. This is a boost from Gladstone Land’s previous dividend of $0.04. This represents a dividend yield of 5.33%. Gladstone Land’s payout ratio is currently -215.38%.

Analyst Ratings Changes

Separately, Alliance Global Partners downgraded Gladstone Land from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $16.00 to $14.50 in a research report 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.