Gladstone Land Corporation (NASDAQ:LAND) to Issue $0.05 Monthly Dividend

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 annualized dividend and a dividend yield of 5.46%. The ex-dividend date of this dividend is Monday, September 22nd.

Gladstone Land has a dividend 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. 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 Down 0.4%

Shares of LAND stock traded down $0.04 during mid-day trading on Thursday, hitting $10.26. The stock had a trading volume of 292,275 shares, compared to its average volume of 294,003. Gladstone Land has a 12-month low of $8.66 and a 12-month high of $15.36. The firm has a market capitalization of $371.31 million, a P/E ratio of -41.04, a price-to-earnings-growth ratio of 4.04 and a beta of 1.11. The firm's 50-day moving average is $10.07 and its two-hundred day moving average 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.

Gladstone Land (NASDAQ:LAND - Get Free Report) last issued its earnings results on Monday, May 12th. The real estate investment trust reported $0.06 earnings per share for the quarter, topping 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 analysts' expectations of $17.30 million. On average, analysts predict that Gladstone Land will post 0.52 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. increased its position in 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 valued at $4,284,000 after buying an additional 22,557 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of Gladstone Land by 141.1% in 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 during the period. AQR Capital Management LLC increased its holdings 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 purchasing an additional 3,889 shares during the period. Acadian Asset Management LLC acquired a new position in shares of Gladstone Land in the first quarter valued at about $273,000. Finally, Strs Ohio acquired a new position in shares of Gladstone Land in the first quarter valued at about $63,000. 53.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Wall Street Zen upgraded Gladstone Land from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Oppenheimer restated an "outperform" rating on shares of Gladstone Land in a research note on Friday, May 23rd. 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.