Gladstone Land Corporation (NASDAQ:LAND) to Issue $0.05 Monthly Dividend

Gladstone Land Corporation (NASDAQ:LAND) announced a monthly dividend on Tuesday, July 14th. Shareholders of record on Tuesday, August 18th will be paid a dividend of 0.0467 per share by the real estate investment trust on Monday, August 31st. This represents a c) dividend on an annualized basis and a yield of 6.5%. The ex-dividend date of this dividend is Tuesday, August 18th.

Gladstone Land has decreased its dividend by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 2 years. Gladstone Land has a dividend 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. 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 Trading Up 0.7%

LAND opened at $8.66 on Wednesday. Gladstone Land has a 1-year low of $8.40 and a 1-year high of $13.00. The stock has a market capitalization of $373.59 million, a PE ratio of -14.20 and a beta of 1.06. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.70. The firm has a 50-day moving average price of $9.07 and a two-hundred day moving average price of $9.99.

Gladstone Land (NASDAQ:LAND) last announced its earnings results on Monday, May 11th. The real estate investment trust reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.02). The company had revenue of $16.55 million for the quarter, compared to analyst estimates of $14.20 million. Gladstone Land had a negative return on equity of 0.87% and a negative net margin of 6.68%. As a group, equities analysts anticipate that Gladstone Land will post 0.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

LAND has been the topic of several research reports. Weiss Ratings downgraded Gladstone Land from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 13th. Lucid Cap Mkts upgraded Gladstone Land from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 14th. Finally, Wall Street Zen lowered Gladstone Land from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $10.00.

Gladstone Land Company Profile

Gladstone Land Corporation (NASDAQ: LAND) is a publicly traded real estate investment trust (REIT) that specializes in the acquisition and ownership of farmland in the United States. Established in 2013 and headquartered in Wayne, Pennsylvania, the company focuses on purchasing high-quality agricultural properties and leasing them to farmers under long?term, triple?net lease agreements. This model provides tenants with operational flexibility while generating stable, recurring rental income for investors.

The company’s portfolio spans several key agricultural regions across the country, including California, the Midwest, and parts of the Southeast.