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

Gladstone Land Corporation (NASDAQ:LAND - Get Free Report) announced a monthly dividend on Monday, July 14th, Wall Street Journal reports. Shareholders of record on Monday, September 22nd will be paid a dividend of 0.0467 per share by the real estate investment trust on Tuesday, September 30th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.30%. The ex-dividend date of this dividend is Monday, September 22nd.

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 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 Performance

Shares of LAND traded down $0.08 on Monday, reaching $10.58. 295,775 shares of the stock traded hands, compared to its average volume of 360,196. The stock's 50-day moving average price is $9.99 and its 200-day moving average price is $10.38. 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 firm has a market cap of $382.84 million, a price-to-earnings ratio of -42.32, a P/E/G ratio of 4.18 and a beta of 1.11. Gladstone Land has a 12 month low of $8.66 and a 12 month high of $15.36.

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 earnings per share for the quarter, topping analysts' consensus estimates of $0.03 by $0.03. Gladstone Land had a net margin of 18.14% and a return on equity of 2.14%. The firm had revenue of $16.80 million for the quarter, compared to the consensus estimate of $17.30 million. Equities analysts forecast that Gladstone Land will post 0.52 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Jane Street Group LLC increased 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 valued at $1,145,000 after purchasing an additional 63,702 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of Gladstone Land during the first quarter worth $273,000. Goldman Sachs Group Inc. increased its stake 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. Strs Ohio bought a new position in shares of Gladstone Land in the first quarter valued at about $63,000. Finally, AQR Capital Management LLC lifted its position in Gladstone Land by 12.1% during the 1st quarter. AQR Capital Management LLC now owns 35,991 shares of the real estate investment trust's stock worth $379,000 after buying an additional 3,889 shares in the last quarter. Institutional investors own 53.60% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on LAND. Alliance Global Partners reissued a "neutral" rating on shares of Gladstone Land in a research report on Tuesday, May 13th. Oppenheimer reissued an "outperform" rating on shares of Gladstone Land in a report on Friday, May 23rd. Finally, Wall Street Zen raised Gladstone Land from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th.

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.