Gladstone Land Corporation (LAND) To Go Ex-Dividend on April 24th

Gladstone Land Corporation (NASDAQ:LAND) announced a monthly dividend on Tuesday, April 14th. Stockholders of record on Friday, April 24th will be paid a dividend of 0.0467 per share by the real estate investment trust on Thursday, April 30th. This represents a c) dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date of this dividend is Friday, April 24th.

Gladstone Land has decreased its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 2 years. 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. 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 Stock Down 2.4%

Shares of NASDAQ:LAND opened at $10.01 on Wednesday. The stock has a 50-day simple moving average of $11.01 and a 200-day simple moving average of $9.98. The stock has a market capitalization of $420.05 million, a P/E ratio of -83.41 and a beta of 1.23. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.24 and a current ratio of 1.24. Gladstone Land has a 1 year low of $8.47 and a 1 year high of $13.00.

Gladstone Land (NASDAQ:LAND) last released its quarterly earnings results on Tuesday, February 24th. The real estate investment trust reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.30 by ($0.35). The company had revenue of $41.45 million for the quarter, compared to analyst estimates of $32.07 million. Gladstone Land had a return on equity of 2.01% and a net margin of 15.31%. Equities analysts forecast that Gladstone Land will post 0.43 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently commented on LAND. Weiss Ratings raised Gladstone Land from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, March 2nd. Zacks Research lowered Gladstone Land from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 10th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $10.00.

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.