Gladstone Land (NASDAQ:LAND) Announces Quarterly Earnings Results, Beats Estimates By $0.19 EPS

Gladstone Land (NASDAQ:LAND) issued its quarterly earnings data on Wednesday. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.19, Zacks reports. The firm had revenue of $21.10 million during the quarter, compared to analysts’ expectations of $20.45 million. Gladstone Land had a return on equity of 2.05% and a net margin of 16.45%.

Gladstone Land Stock Performance

Gladstone Land stock opened at $11.74 on Thursday. The firm has a market capitalization of $424.98 million, a P/E ratio of -44.18, a PEG ratio of 3.75 and a beta of 1.05. The stock has a fifty day moving average price of $10.86 and a 200 day moving average price of $12.41. Gladstone Land has a 52 week low of $10.27 and a 52 week high of $15.36. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.77.

Gladstone Land Increases Dividend

The business also recently declared a dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 27th were issued a $0.0467 dividend. This represents a dividend yield of 5.33%. This is a boost from Gladstone Land’s previous dividend of $0.04. The ex-dividend date of this dividend was Friday, January 24th. Gladstone Land’s payout ratio is -215.38%.

Wall Street Analyst Weigh In

Separately, Alliance Global Partners cut Gladstone Land from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $16.00 to $14.50 in a report on Friday, November 8th.

Gladstone Land Company Profile

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.