Gladstone Land Co. to Issue Monthly Dividend of $0.05 (NASDAQ:LAND)

Gladstone Land Co. (NASDAQ:LAND) declared a monthly dividend on Thursday, April 10th, Wall Street Journal reports. Investors of record on Friday, June 20th will be paid a dividend of 0.0467 per share by the real estate investment trust on Monday, June 30th. This represents a $0.56 annualized dividend and a yield of 6.14%. The ex-dividend date is Friday, June 20th.

Gladstone Land has a payout ratio of -175.0% 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 $0.61 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 91.8%.

Gladstone Land Stock Down 2.5 %

NASDAQ LAND opened at $9.12 on Friday. Gladstone Land has a 1-year low of $8.66 and a 1-year high of $15.36. The company has a current ratio of 0.99, a quick ratio of 0.70 and a debt-to-equity ratio of 0.77. The stock’s 50 day moving average is $10.81 and its two-hundred day moving average is $11.59. The company has a market capitalization of $330.01 million, a price-to-earnings ratio of -31.45, a PEG ratio of 3.74 and a beta of 1.15.

Gladstone Land (NASDAQ:LAND) last issued its quarterly earnings results on Wednesday, February 19th. The real estate investment trust reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.10) by $0.19. Gladstone Land had a net margin of 15.59% and a return on equity of 1.89%. The company had revenue of $21.10 million during the quarter, compared to analysts’ expectations of $20.45 million. Equities analysts forecast that Gladstone Land will post 0.52 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Gladstone Land from a “hold” rating to a “sell” rating in a report on Wednesday, March 5th.

Insider Buying and Selling at Gladstone Land

In other news, Director Anthony W. Parker sold 6,601 shares of Gladstone Land stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $11.02, for a total value of $72,743.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 7.20% of the company’s stock.

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.