Gladstone Land Corporation (LAND) to Distribute Monthly Dividend of $0.05 on September 30th

Gladstone Land Corporation (NASDAQ:LAND) declared a monthly dividend on Tuesday, July 14th. Stockholders of record on Monday, September 21st will be given a dividend of 0.0467 per share by the real estate investment trust on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date of this dividend is Monday, September 21st.

Gladstone Land has decreased its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Gladstone Land has a payout ratio of -114.3% 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 $0.45 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 124.4%.

Gladstone Land Price Performance

LAND stock opened at $9.43 on Friday. The stock has a market capitalization of $406.78 million, a price-to-earnings ratio of -17.15 and a beta of 1.09. The firm’s 50-day moving average price is $8.82 and its two-hundred day moving average price is $9.50. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.72. Gladstone Land has a 12-month low of $7.92 and a 12-month high of $13.00.

Gladstone Land (NASDAQ:LAND) last announced its quarterly earnings results on Tuesday, August 11th. The real estate investment trust reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.06). Gladstone Land had a negative net margin of 7.31% and a negative return on equity of 0.96%. The business had revenue of $12.69 million for the quarter, compared to analysts’ expectations of $12.28 million. As a group, equities analysts predict that Gladstone Land will post 0.48 earnings per share for the current year.

About Gladstone Land

Gladstone Land Corporation is a real estate investment trust that owns and manages farmland in the United States. The company primarily acquires agricultural properties and leases them to farming operators under long-term agreements, generally structured to provide the company with rental income while tenants manage day-to-day agricultural operations.

Its portfolio includes farms used to grow a variety of specialty crops, such as fruits, vegetables, and nuts, as well as row crops and other agricultural products.