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

Gladstone Land Corporation (NASDAQ:LAND) declared a monthly dividend on Tuesday, October 13th. Investors of record on Friday, October 23rd will be paid a dividend of $0.0467 per share by the real estate investment trust on Friday, October 30th. This represents a $0.56 annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend is Friday, October 23rd.

Gladstone Land has a payout ratio of -114.3% indicating that 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

Shares of NASDAQ:LAND opened at $9.67 on Wednesday. The company has a market cap of $417.16 million, a P/E ratio of -17.58 and a beta of 1.10. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.72. Gladstone Land has a 52 week low of $7.92 and a 52 week high of $13.00. The business has a fifty day simple moving average of $9.17 and a 200-day simple moving average of $9.25.

Gladstone Land (NASDAQ:LAND) last released its earnings results on Tuesday, August 11th. The real estate investment trust reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.06). Gladstone Land had a negative return on equity of 0.96% and a negative net margin of 7.31%. The company had revenue of $12.69 million during the quarter, compared to analyst estimates of $12.28 million. Equities research analysts forecast that Gladstone Land will post 0.48 EPS for the current year.

About Gladstone Land

Gladstone Land Corporation (NASDAQ: LAND) is a real estate investment trust that owns and leases farmland in the United States. The company focuses on agricultural properties that produce a range of crops, including fruits, vegetables, and other specialty crops, as well as certain row crops.

Gladstone Land generally leases its properties to farmers and agricultural operators under long-term agreements, often structured as triple-net leases. These arrangements typically make tenants responsible for property-level operating costs, while Gladstone Land remains focused on owning and managing the underlying farmland.

Founded in 1997, the company has built a portfolio of farms across major U.S.