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

Gladstone Land Corp (NASDAQ:LAND) declared a dividend on Tuesday, July 9th, NASDAQ reports. Shareholders of record on Tuesday, September 17th will be paid a dividend of 0.045 per share by the real estate investment trust on Monday, September 30th. The ex-dividend date of this dividend is Monday, September 16th.

Gladstone Land has increased its dividend payment by an average of 4.6% annually over the last three years and has raised its dividend every year for the last 3 years. Gladstone Land has a payout ratio of 120.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Gladstone Land to earn $0.52 per share next year, which means the company may not be able to cover its $0.53 annual dividend with an expected future payout ratio of 101.9%.

Shares of LAND stock opened at $11.98 on Friday. The firm has a market cap of $249.10 million, a P/E ratio of 22.29 and a beta of 0.78. The company has a debt-to-equity ratio of 1.51, a current ratio of 3.14 and a quick ratio of 3.14. Gladstone Land has a 1-year low of $11.12 and a 1-year high of $13.85. The firm has a fifty day moving average of $11.60 and a two-hundred day moving average of $12.04.

Gladstone Land (NASDAQ:LAND) last announced its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.16). The company had revenue of $8.36 million for the quarter. Gladstone Land had a return on equity of 2.59% and a net margin of 15.13%. On average, sell-side analysts expect that Gladstone Land will post 0.46 EPS for the current year.

Several research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Gladstone Land from a “hold” rating to a “sell” rating in a report on Wednesday. Maxim Group set a $15.00 price objective on shares of Gladstone Land and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, ValuEngine raised shares of Gladstone Land from a “hold” rating to a “buy” rating in a report on Tuesday, August 6th.

In other Gladstone Land news, CEO David Gladstone purchased 135,739 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was acquired at an average cost of $11.86 per share, with a total value of $1,609,864.54. Following the acquisition, the chief executive officer now owns 2,224,324 shares of the company’s stock, valued at approximately $26,380,482.64. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 12.41% of the company’s stock.

About Gladstone Land

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.

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Dividend History for Gladstone Land (NASDAQ:LAND)

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