Gladstone Land Corporation (NASDAQ:LAND) Plans Monthly Dividend of $0.05

Gladstone Land Corporation (NASDAQ:LAND - Get Free Report) announced a monthly dividend on Friday, July 11th, Wall Street Journal reports. Shareholders of record on Monday, September 22nd will be paid a dividend of 0.0467 per share by the real estate investment trust on Tuesday, September 30th. This represents a $0.56 dividend on an annualized basis and a yield of 5.26%. The ex-dividend date of this dividend is Monday, September 22nd.

Gladstone Land has a dividend 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 $0.61 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 Stock Performance

LAND traded up $0.09 during mid-day trading on Friday, reaching $10.66. 281,400 shares of the company traded hands, compared to its average volume of 293,341. The stock has a market capitalization of $385.79 million, a P/E ratio of -42.64, a P/E/G ratio of 4.18 and a beta of 1.11. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.72. The company's fifty day moving average price is $9.99 and its 200-day moving average price is $10.39. Gladstone Land has a 52-week low of $8.66 and a 52-week high of $15.36.

Gladstone Land (NASDAQ:LAND - Get Free Report) last announced its earnings results on Monday, May 12th. The real estate investment trust reported $0.06 earnings per share for the quarter, beating analysts' consensus estimates of $0.03 by $0.03. The business had revenue of $16.80 million during the quarter, compared to analyst estimates of $17.30 million. Gladstone Land had a net margin of 18.14% and a return on equity of 2.14%. On average, sell-side analysts expect that Gladstone Land will post 0.52 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Strs Ohio bought a new position in Gladstone Land in the 1st quarter worth $63,000. Acadian Asset Management LLC purchased a new stake in shares of Gladstone Land during the 1st quarter valued at about $273,000. AQR Capital Management LLC raised its position in shares of Gladstone Land by 12.1% during the 1st quarter. AQR Capital Management LLC now owns 35,991 shares of the real estate investment trust's stock valued at $379,000 after buying an additional 3,889 shares in the last quarter. Jane Street Group LLC raised its position in Gladstone Land by 141.1% in the 1st quarter. Jane Street Group LLC now owns 108,843 shares of the real estate investment trust's stock worth $1,145,000 after purchasing an additional 63,702 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in Gladstone Land by 5.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 407,183 shares of the real estate investment trust's stock worth $4,284,000 after purchasing an additional 22,557 shares during the period. Institutional investors own 53.60% of the company's stock.

Wall Street Analyst Weigh In

LAND has been the subject of a number of recent research reports. Oppenheimer reissued an "outperform" rating on shares of Gladstone Land in a research report on Friday, May 23rd. Alliance Global Partners reissued a "neutral" rating on shares of Gladstone Land in a research report on Tuesday, May 13th. Finally, Wall Street Zen raised shares of Gladstone Land from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th.

Gladstone Land Company Profile

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.