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

Gladstone Land Corporation (NASDAQ:LAND - Get Free Report) declared a monthly dividend on Thursday, July 10th, NASDAQ Dividends reports. Investors of record on Monday, July 21st will be given a dividend of 0.0467 per share by the real estate investment trust on Thursday, July 31st. This represents a $0.56 dividend on an annualized basis and a yield of 5.30%. The ex-dividend date is Monday, July 21st.

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. 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 Down 0.8%

NASDAQ:LAND traded down $0.08 during midday trading on Monday, reaching $10.58. The company had a trading volume of 295,775 shares, compared to its average volume of 293,351. The firm has a market capitalization of $382.84 million, a price-to-earnings ratio of -42.32, a PEG ratio of 4.18 and a beta of 1.11. The stock's fifty day simple moving average is $10.01 and its 200-day simple moving average is $10.38. Gladstone Land has a 12-month low of $8.66 and a 12-month high of $15.36. 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 (NASDAQ:LAND - Get Free Report) last released its earnings results on Monday, May 12th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.03. The firm had revenue of $16.80 million during the quarter, compared to analyst estimates of $17.30 million. Gladstone Land had a return on equity of 2.14% and a net margin of 18.14%. On average, sell-side analysts anticipate that Gladstone Land will post 0.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Gladstone Land

Institutional investors have recently added to or reduced their stakes in the business. Strs Ohio purchased a new stake in Gladstone Land in the 1st quarter valued at approximately $63,000. Acadian Asset Management LLC purchased a new stake in Gladstone Land in the 1st quarter valued at approximately $273,000. AQR Capital Management LLC boosted its holdings in 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 in the last quarter. Jane Street Group LLC boosted its stake in shares of 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. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Gladstone Land by 5.9% during 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 acquiring an additional 22,557 shares in the last quarter. Hedge funds and other institutional investors own 53.60% of the company's stock.

Wall Street Analyst Weigh In

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

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.