Gladstone Land Corporation (NASDAQ:LAND - Get Free Report) announced a dividend on Monday, July 21st, investing.com reports. Shareholders of record on Tuesday, July 22nd will be given a dividend of 0.0467 per share by the real estate investment trust on Thursday, July 31st. This represents a yield of 5.44%. The ex-dividend date is Monday, July 21st.
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. 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 Price Performance
NASDAQ:LAND traded up $0.05 during trading hours on Monday, hitting $10.31. The company's stock had a trading volume of 257,418 shares, compared to its average volume of 294,865. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.73 and a quick ratio of 2.73. The company has a market capitalization of $373.12 million, a P/E ratio of -41.24, a PEG ratio of 4.04 and a beta of 1.11. Gladstone Land has a twelve month low of $8.66 and a twelve month high of $15.21. The stock has a fifty day simple moving average of $10.08 and a 200-day simple moving average of $10.37.
Gladstone Land (NASDAQ:LAND - Get Free Report) last posted its earnings results on Monday, May 12th. The real estate investment trust reported $0.06 earnings per share for the quarter, topping analysts' consensus estimates of $0.03 by $0.03. The firm had revenue of $16.80 million for 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, analysts anticipate that Gladstone Land will post 0.52 EPS for the current fiscal year.
Analyst Ratings Changes
A number of analysts recently commented on LAND shares. Oppenheimer reiterated an "outperform" rating on shares of Gladstone Land in a report on Friday, May 23rd. Alliance Global Partners reaffirmed a "neutral" rating on shares of Gladstone Land in a research report on Tuesday, May 13th. Finally, Wall Street Zen upgraded shares of Gladstone Land from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th.
View Our Latest Stock Report on Gladstone Land
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the business. Strs Ohio purchased a new position in shares of Gladstone Land in the first quarter worth about $63,000. Acadian Asset Management LLC acquired a new stake in shares of Gladstone Land in the first quarter valued at $273,000. Jane Street Group LLC grew its holdings in Gladstone Land by 141.1% during 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 acquiring an additional 63,702 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Gladstone Land by 5.9% in the first quarter. Goldman Sachs Group Inc. now owns 407,183 shares of the real estate investment trust's stock valued at $4,284,000 after purchasing an additional 22,557 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of Gladstone Land by 12.1% in 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 purchasing an additional 3,889 shares during the last quarter. Hedge funds and other institutional investors own 53.60% of the company's stock.
About Gladstone Land
(
Get Free Report)
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.
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