Gladstone Land Co. (NASDAQ:LAND) to Issue Dividend of $0.05

Gladstone Land Co. (NASDAQ:LAND - Get Free Report) declared a dividend on Monday, April 21st, investing.com reports. Stockholders of record on Tuesday, April 22nd will be given a dividend of 0.0467 per share by the real estate investment trust on Wednesday, April 30th. This represents a dividend yield of 5.75%. The ex-dividend date of this dividend is Monday, April 21st.

Gladstone Land has a dividend payout ratio of -175.0% 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 $0.61 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 91.8%.

Gladstone Land Trading Up 1.0 %

NASDAQ:LAND traded up $0.10 during trading hours on Friday, reaching $9.81. The company's stock had a trading volume of 185,714 shares, compared to its average volume of 261,786. Gladstone Land has a 1 year low of $8.66 and a 1 year high of $15.36. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.70 and a current ratio of 0.99. The firm has a 50-day simple moving average of $10.46 and a 200-day simple moving average of $11.27. The firm has a market capitalization of $354.97 million, a price-to-earnings ratio of -33.83, a PEG ratio of 3.74 and a beta of 1.15.

Gladstone Land (NASDAQ:LAND - Get Free Report) last issued its earnings results on Wednesday, February 19th. The real estate investment trust reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.10) by $0.19. The company had revenue of $21.10 million for the quarter, compared to the consensus estimate of $20.45 million. Gladstone Land had a net margin of 15.59% and a return on equity of 1.89%. Research analysts expect that Gladstone Land will post 0.52 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Gladstone Land from a "hold" rating to a "sell" rating in a research note on Wednesday, March 5th.

Insiders Place Their Bets

In related news, Director Anthony W. Parker sold 6,601 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $11.02, for a total transaction of $72,743.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 7.20% of the company's stock.

About Gladstone Land

Founded in 1997, Gladstone Land is a publicly traded real estate investment trust that acquires and owns farmland and farm-related properties located in major agricultural markets in the U.S. and leases its properties to unrelated third-party farmers. The Company, which reports the aggregate fair value of its farmland holdings on a quarterly basis, currently owns 169 farms, comprised of approximately 116,000 acres in 15 different states and over 45,000 acre-feet of banked water in California, valued at a total of approximately $1.6 billion.