Gladstone Land Corporation (NASDAQ:LAND) Shares to Pay Monthly Dividend of $0.05

Key Points

• Gladstone Land declared a monthly dividend of $0.0467 per share, payable October 30 to shareholders of record October 23. The dividend annualizes to approximately $0.56 per share and yields 5.8%.
• The dividend appears financially strained: the company’s payout ratio is -114.3%, while analysts expect $0.45 in earnings per share next year versus the $0.56 annual dividend.
• Gladstone Land reported a quarterly EPS loss of $0.32, missing estimates, and analysts maintain a consensus “Hold” rating with a $10 average price target; shares recently opened at $9.67.

Gladstone Land Corporation (NASDAQ:LAND - Get Free Report) declared a monthly dividend on Tuesday, October 13th. Shareholders of record on Friday, October 23rd will be given 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 yield of 5.8%. The ex-dividend date 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 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 Stock Up 0.5%

Gladstone Land stock opened at $9.67 on Wednesday. The firm has a market cap of $417.16 million, a PE ratio of -17.58 and a beta of 1.10. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.29 and a current ratio of 1.29. The firm's 50 day moving average price is $9.17 and its two-hundred day moving average price is $9.25. Gladstone Land has a twelve month low of $7.92 and a twelve month high of $13.00.

Gladstone Land (NASDAQ:LAND - Get Free Report) 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 analysts' consensus estimates 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 analysts' expectations of $12.28 million. On average, research analysts predict that Gladstone Land will post 0.48 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered Gladstone Land from a "sell (d+)" rating to a "sell (d)" rating in a report on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $10.00.

Gladstone Land Company Profile

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.

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