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

Key Points

• Gladstone Land declared a monthly dividend of $0.0467 per share, payable November 30 to shareholders of record November 19. The dividend annualizes to $0.56 per share and yields approximately 5.8%.
• The dividend may face coverage risks: the company reported a negative payout ratio of 114.3%, while analysts forecast $0.45 in earnings per share next year versus the $0.56 annual dividend.
• Gladstone Land shares opened at $9.67, and institutional investors and hedge funds own 53.6% of the stock. The REIT recently reported a quarterly loss of $0.32 per share, missing analyst expectations.

Gladstone Land Corporation (NASDAQ:LAND - Get Free Report) announced a monthly dividend on Tuesday, October 13th. Stockholders of record on Thursday, November 19th will be given a dividend of $0.0467 per share by the real estate investment trust on Monday, November 30th. This represents a $0.56 annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend is Thursday, November 19th.

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. 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 0.5%

Shares of Gladstone Land stock opened at $9.67 on Wednesday. The firm has a market cap of $417.16 million, a price-to-earnings ratio of -17.58 and a beta of 1.10. Gladstone Land has a 52-week low of $7.92 and a 52-week high of $13.00. The company's 50-day simple moving average is $9.17 and its 200-day simple moving average is $9.25. 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 (NASDAQ:LAND - Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The real estate investment trust reported ($0.32) earnings per share 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 during the quarter, compared to analysts' expectations of $12.28 million. As a group, equities research analysts anticipate that Gladstone Land will post 0.48 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in LAND. BlackRock Inc. acquired a new stake in shares of Gladstone Land during the 2nd quarter valued at approximately $29,231,000. Compass Financial Management LLC purchased a new stake in shares of Gladstone Land during the 2nd quarter worth approximately $5,499,000. Renaissance Technologies LLC acquired a new stake in shares of Gladstone Land in the 1st quarter worth approximately $5,165,000. NewEdge Advisors LLC grew its holdings in shares of Gladstone Land by 7.7% in the 2nd quarter. NewEdge Advisors LLC now owns 336,738 shares of the real estate investment trust's stock worth $2,872,000 after acquiring an additional 24,029 shares during the period. Finally, PFG Investments LLC grew its holdings in shares of Gladstone Land by 0.9% in the 1st quarter. PFG Investments LLC now owns 298,207 shares of the real estate investment trust's stock worth $3,042,000 after acquiring an additional 2,674 shares during the period. 53.60% of the stock is currently owned by institutional investors and hedge funds.

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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