Gladstone Land Corporation (NASDAQ:LAND - Get Free Report) declared a dividend on Monday, July 21st, investing.com reports. Stockholders of record on Tuesday, July 22nd will be paid a dividend of 0.0467 per share by the real estate investment trust on Thursday, July 31st. This represents a dividend yield of 5.44%. The ex-dividend date of this dividend 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. 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 Down 0.5%
Shares of NASDAQ LAND traded down $0.05 during mid-day trading on Thursday, hitting $10.75. The company had a trading volume of 146,853 shares, compared to its average volume of 354,403. The company has a market capitalization of $388.99 million, a PE ratio of -43.00, a price-to-earnings-growth ratio of 4.14 and a beta of 1.11. The firm has a 50-day simple moving average of $10.13 and a two-hundred day simple moving average of $10.37. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.72. Gladstone Land has a one year low of $8.66 and a one year high of $15.11.
Gladstone Land (NASDAQ:LAND - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The real estate investment trust reported $0.06 EPS for the quarter, topping analysts' consensus estimates of $0.03 by $0.03. Gladstone Land had a return on equity of 2.14% and a net margin of 18.14%. The business had revenue of $16.80 million during the quarter, compared to analysts' expectations of $17.30 million. On average, equities analysts expect that Gladstone Land will post 0.52 EPS for the current year.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on the company. Oppenheimer reiterated an "outperform" rating on shares of Gladstone Land in a report on Friday, May 23rd. Alliance Global Partners reiterated a "neutral" rating on shares of Gladstone Land in a report on Tuesday, May 13th. Finally, Wall Street Zen upgraded shares of Gladstone Land from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th.
View Our Latest Stock Analysis on Gladstone Land
Institutional Investors Weigh In On Gladstone Land
Several hedge funds have recently bought and sold shares of LAND. AQR Capital Management LLC raised its position in shares of Gladstone Land by 12.1% in the first 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. Strs Ohio acquired a new stake in shares of Gladstone Land in the first quarter valued at approximately $63,000. Goldman Sachs Group Inc. raised its position in shares of 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 buying an additional 22,557 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Gladstone Land in the first quarter valued at approximately $273,000. Finally, Jane Street Group LLC raised its position in Gladstone Land by 141.1% during the first quarter. Jane Street Group LLC now owns 108,843 shares of the real estate investment trust's stock valued at $1,145,000 after purchasing an additional 63,702 shares in the last quarter. 53.60% of the stock is currently owned by institutional investors and hedge funds.
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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