Gladstone Land Corporation (NASDAQ:LAND - Get Free Report) announced 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 5.26%. 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. Equities 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
NASDAQ:LAND traded up $0.09 during mid-day trading on Friday, hitting $10.66. 281,400 shares of the company traded hands, compared to its average volume of 293,341. The stock's fifty day moving average price is $9.99 and its 200-day moving average price is $10.38. Gladstone Land has a one year low of $8.66 and a one year high of $15.36. 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 firm has a market cap of $385.79 million, a price-to-earnings ratio of -42.64, a price-to-earnings-growth ratio of 4.18 and a beta of 1.11.
Gladstone Land (NASDAQ:LAND - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $17.30 million. Research analysts anticipate that Gladstone Land will post 0.52 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several analysts have issued reports on the company. Oppenheimer reissued an "outperform" rating on shares of Gladstone Land in a report on Friday, May 23rd. Wall Street Zen raised Gladstone Land from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Finally, Alliance Global Partners reaffirmed a "neutral" rating on shares of Gladstone Land in a research note on Tuesday, May 13th.
Check Out Our Latest Stock Analysis on LAND
Hedge Funds Weigh In On Gladstone Land
Hedge funds have recently made changes to their positions in the business. Strs Ohio bought a new position in Gladstone Land during the first quarter valued at approximately $63,000. Acadian Asset Management LLC bought a new position in Gladstone Land during the first quarter valued at approximately $273,000. AQR Capital Management LLC boosted its stake in Gladstone Land by 12.1% during 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 during the last quarter. Jane Street Group LLC boosted its stake 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 buying an additional 63,702 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Gladstone Land by 5.9% during 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 during the last quarter. Institutional investors own 53.60% of the company's stock.
Gladstone Land Company Profile
(
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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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