Gladstone Land (NASDAQ:LAND) Posts Earnings Results, Beats Expectations By $0.19 EPS

Gladstone Land (NASDAQ:LAND) issued its quarterly earnings data on Wednesday. The real estate investment trust reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.19, Zacks reports. The business had revenue of $21.10 million for the quarter, compared to analysts’ expectations of $20.45 million. Gladstone Land had a net margin of 15.59% and a return on equity of 1.88%.

Gladstone Land Trading Down 1.2 %

LAND stock opened at $11.53 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.77. The business’s 50 day moving average is $10.87 and its 200-day moving average is $12.40. Gladstone Land has a 1-year low of $10.27 and a 1-year high of $15.36. The firm has a market cap of $417.09 million, a P/E ratio of -39.76, a P/E/G ratio of 3.69 and a beta of 1.05.

Gladstone Land Increases Dividend

The firm also recently disclosed a dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 27th were paid a $0.0467 dividend. This is a boost from Gladstone Land’s previous dividend of $0.04. The ex-dividend date of this dividend was Friday, January 24th. This represents a dividend yield of 5.33%. Gladstone Land’s dividend payout ratio is currently -193.10%.

Analyst Upgrades and Downgrades

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