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

Key Points

• Gladstone Land announced a monthly dividend of $0.0467 per share, payable on August 31 to shareholders of record as of August 18, implying 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 only $0.45 per share next year versus an annual dividend of $0.56.
• The company recently reported a Q1 EPS loss of $0.24, wider than expected, though revenue of $16.55 million came in above estimates; the stock was trading around $8.66 and up 0.7% on the day.

Gladstone Land Corporation (NASDAQ:LAND - Get Free Report) announced a monthly dividend on Tuesday, July 14th. Investors of record on Tuesday, August 18th will be given a dividend of 0.0467 per share by the real estate investment trust on Monday, August 31st. This represents a c) annualized dividend and a yield of 6.5%. The ex-dividend date is Tuesday, August 18th.

Gladstone Land has decreased its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 2 consecutive years. 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. Equities 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 stock has a market capitalization of $373.59 million, a P/E ratio of -14.20 and a beta of 1.06. The business has a 50 day simple moving average of $9.07 and a 200 day simple moving average of $9.99. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.47 and a quick ratio of 0.47. Gladstone Land has a one year low of $8.40 and a one year high of $13.00.

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

Hedge Funds Weigh In On Gladstone Land

Large investors have recently modified their holdings of the company. Optiver Holding B.V. grew its position in Gladstone Land by 345.2% in the 1st quarter. Optiver Holding B.V. now owns 2,493 shares of the real estate investment trust's stock worth $25,000 after purchasing an additional 1,933 shares in the last quarter. Western Wealth Management LLC bought a new stake in Gladstone Land in the 1st quarter valued at about $25,000. Parallel Advisors LLC lifted its stake in shares of Gladstone Land by 40.1% during the 3rd quarter. Parallel Advisors LLC now owns 4,840 shares of the real estate investment trust's stock valued at $44,000 after buying an additional 1,386 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Gladstone Land by 164.2% in the third quarter. Russell Investments Group Ltd. now owns 6,051 shares of the real estate investment trust's stock worth $55,000 after acquiring an additional 3,761 shares during the period. Finally, Strs Ohio bought a new position in Gladstone Land in the 1st quarter worth about $63,000. 53.60% of the stock is currently owned by institutional investors.

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.

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