Gladstone Land Co. (LAND) To Go Ex-Dividend on January 24th

Gladstone Land Co. (NASDAQ:LAND) announced a dividend on Wednesday, January 22nd,investing.com reports. Investors of record on Monday, January 27th will be paid a dividend of 0.0467 per share by the real estate investment trust on Friday, January 31st. This represents a dividend yield of 5.36%. The ex-dividend date is Friday, January 24th. This is an increase from Gladstone Land’s previous dividend of $0.04.

Gladstone Land has a dividend payout ratio of -311.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research 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 Down 5.5 %

Shares of LAND traded down $0.61 during mid-day trading on Wednesday, reaching $10.45. The stock had a trading volume of 687,508 shares, compared to its average volume of 315,369. 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 52-week low of $10.27 and a 52-week high of $15.36. The business’s fifty day moving average is $11.23 and its 200 day moving average is $12.94. The firm has a market cap of $378.19 million, a price-to-earnings ratio of -40.19, a P/E/G ratio of 3.45 and a beta of 1.05.

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

Analyst Upgrades and Downgrades

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

Gladstone Land Company Profile

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.