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

Key Points

• Gladstone Land declared a monthly dividend of $0.0467 per share, payable on July 31 to shareholders of record on July 24, with an annualized yield of about 6.5%.
• The REIT’s dividend appears to be under pressure: its payout ratio is -114.3%, and analysts expect earnings of $0.45 per share next year versus an annual dividend of $0.56, suggesting it may not fully cover payouts with earnings.
• Shares were trading up 0.7% around $8.66, but the stock remains below its 50-day and 200-day moving averages after a recent quarter in which it missed EPS estimates despite beating revenue expectations.

Gladstone Land Corporation (NASDAQ:LAND - Get Free Report) declared a monthly dividend on Tuesday, July 14th. Stockholders of record on Friday, July 24th will be paid a dividend of 0.0467 per share by the real estate investment trust on Friday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date of this dividend is Friday, July 24th.

Gladstone Land has decreased its dividend by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 2 years. 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 $0.45 per share next year, which means the company may not be able to cover its $0.56 annual dividend with an expected future payout ratio of 124.4%.

Gladstone Land Trading Up 0.7%

NASDAQ:LAND opened at $8.66 on Wednesday. The firm's fifty day moving average is $9.07 and its 200-day moving average is $9.99. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.47 and a current ratio of 0.47. Gladstone Land has a 52 week low of $8.40 and a 52 week high of $13.00. The firm has a market cap of $373.59 million, a P/E ratio of -14.20 and a beta of 1.06.

Gladstone Land (NASDAQ:LAND - Get Free Report) last announced its earnings results on Monday, May 11th. The real estate investment trust reported ($0.24) earnings per share for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.02). The firm had revenue of $16.55 million for the quarter, compared to the consensus estimate of $14.20 million. Gladstone Land had a negative return on equity of 0.87% and a negative net margin of 6.68%. Equities analysts expect that Gladstone Land will post 0.45 earnings per share for the current year.

Institutional Investors Weigh In On Gladstone Land

A number of large investors have recently bought and sold shares of the stock. Ameriprise Financial Inc. raised its stake in shares of Gladstone Land by 5.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 21,381 shares of the real estate investment trust's stock valued at $196,000 after purchasing an additional 1,066 shares during the period. Sigma Planning Corp lifted its holdings in Gladstone Land by 7.0% during the 4th quarter. Sigma Planning Corp now owns 17,826 shares of the real estate investment trust's stock worth $163,000 after purchasing an additional 1,161 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Gladstone Land by 9.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,763 shares of the real estate investment trust's stock worth $140,000 after purchasing an additional 1,183 shares during the period. Parallel Advisors LLC boosted its stake in Gladstone Land by 40.1% in the 3rd quarter. Parallel Advisors LLC now owns 4,840 shares of the real estate investment trust's stock worth $44,000 after purchasing an additional 1,386 shares during the period. Finally, Abel Hall LLC grew its holdings in Gladstone Land by 7.4% during the 1st quarter. Abel Hall LLC now owns 21,704 shares of the real estate investment trust's stock valued at $221,000 after buying an additional 1,498 shares in the last quarter. 53.60% of the stock is currently owned by institutional investors and hedge funds.

Gladstone Land Company Profile

Gladstone Land Corporation NASDAQ: LAND is a publicly traded real estate investment trust (REIT) that specializes in the acquisition and ownership of farmland in the United States. Established in 2013 and headquartered in Wayne, Pennsylvania, the company focuses on purchasing high-quality agricultural properties and leasing them to farmers under long‐term, triple‐net lease agreements. This model provides tenants with operational flexibility while generating stable, recurring rental income for investors.

The company's portfolio spans several key agricultural regions across the country, including California, the Midwest, and parts of the Southeast.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.