Log in

Gladstone Land Corp (NASDAQ:LAND) Announces Monthly Dividend of $0.04

Last updated on Friday, July 17th, 2020 by MarketBeat

Gladstone Land Corp (NASDAQ:LAND) announced a monthly dividend on Friday, July 17th, Wall Street Journal reports. Investors of record on Wednesday, September 23rd will be given a dividend of 0.0448 per share by the real estate investment trust on Wednesday, September 30th. This represents a $0.54 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date is Tuesday, September 22nd.

Gladstone Land has a payout ratio of -450.0% 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 $0.63 per share next year, which means the company should continue to be able to cover its $0.54 annual dividend with an expected future payout ratio of 85.7%.

Gladstone Land stock traded up $0.21 during midday trading on Friday, reaching $16.09. The stock had a trading volume of 148,323 shares, compared to its average volume of 166,773. The company has a quick ratio of 3.46, a current ratio of 3.46 and a debt-to-equity ratio of 1.55. Gladstone Land has a 52-week low of $9.61 and a 52-week high of $16.37. The firm has a market cap of $342.45 million, a price-to-earnings ratio of -316.00 and a beta of 0.78. The company has a fifty day moving average of $15.40 and a 200 day moving average of $13.62.

Gladstone Land (NASDAQ:LAND) last posted its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $0.05 earnings per share for the quarter, missing the Zacks' consensus estimate of $0.17 by ($0.12). The firm had revenue of $15.28 million during the quarter, compared to analysts' expectations of $13.64 million. Gladstone Land had a return on equity of 1.78% and a net margin of 9.88%. Equities research analysts predict that Gladstone Land will post 0.68 EPS for the current year.

LAND has been the topic of a number of research reports. Maxim Group reaffirmed a "buy" rating and set a $16.00 target price on shares of Gladstone Land in a research report on Tuesday, May 12th. BidaskClub lowered shares of Gladstone Land from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 10th. Zacks Investment Research lowered shares of Gladstone Land from a "buy" rating to a "hold" rating in a research report on Wednesday. Finally, B. Riley raised their target price on shares of Gladstone Land from $16.00 to $17.50 in a research report on Wednesday, June 10th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. The company has a consensus rating of "Buy" and a consensus price target of $14.28.

Gladstone Land Company Profile

Gladstone Land is a publicly-traded real estate investment trust that invests in farmland and farm-related properties located in major agricultural markets in the U.S., which it leases to unrelated third-party farmer-tenants. The Company reports the current fair value of its farmland on a quarterly basis; as of December 31, 2018, its estimated net asset value was $12.88 per share.

Recommended Story: What Every Investor Needs to Understand About Secondary Public Offerings

Dividend History for Gladstone Land (NASDAQ:LAND)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

8 Stocks Under $10 and On Sale Right Now

During times of market volatility, investors are looking to get return anywhere they can. One approach is to find cheap stocks (i.e. stocks that trade for less than $10). It’s not surprising that many of the cheap stocks can be found on Robinhood. This trading app is popular among millennial investors. And those investors are willing to speculate on cheap stocks.

And it’s easy to see why. Buying 100 shares of a stock that is trading for $5 can seem to be a wise investment if the stock moves higher. After all, if the stock price increases just $1, investors can see a 20% gain.

But that is not always the case. In fact, it’s not usually the case. The trap that some investors fall into is believing that these stocks can be the next Amazon or Apple. And while they do offer a potential reward, they also carry significant risk. It’s important to remember that when a stock is selling for less than $10, there’s usually a reason. And in some cases, it means the stock is under selling pressure.

This is one time when it’s important to remember that inexpensive does not necessarily mean the stock is a good value. However, there are some quality stocks that can be found in the bargain bin. And for many of these stocks, the value is found in a solid dividend that can reward income investors.

View the "8 Stocks Under $10 and On Sale Right Now".

Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.