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

Gladstone Land Corporation (NASDAQ:LAND) declared a monthly dividend on Tuesday, January 13th. Investors of record on Monday, March 23rd will be given a dividend of 0.0467 per share by the real estate investment trust on Tuesday, March 31st. This represents a c) annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend is Monday, March 23rd.

Gladstone Land has increased its dividend by an average of 0.0%annually 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. Research analysts expect Gladstone Land to earn $0.61 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 91.8%.

Gladstone Land Trading Up 0.3%

NASDAQ LAND traded up $0.03 during trading hours on Wednesday, hitting $9.70. 334,656 shares of the company’s stock were exchanged, compared to its average volume of 544,194. The business’s 50 day moving average is $9.20 and its 200-day moving average is $9.32. Gladstone Land has a 12-month low of $8.47 and a 12-month high of $11.93. The firm has a market capitalization of $361.49 million, a P/E ratio of -44.09, a price-to-earnings-growth ratio of 4.32 and a beta of 1.19. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.13 and a current ratio of 1.13.

Gladstone Land (NASDAQ:LAND) last posted its quarterly earnings results on Wednesday, November 5th. The real estate investment trust reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.07. Gladstone Land had a return on equity of 1.46% and a net margin of 14.50%.The company had revenue of $17.79 million during the quarter, compared to analysts’ expectations of $15.08 million. As a group, analysts anticipate that Gladstone Land will post 0.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Gladstone Land

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Abel Hall LLC lifted its position in shares of Gladstone Land by 103.8% during the third quarter. Abel Hall LLC now owns 20,691 shares of the real estate investment trust’s stock worth $190,000 after purchasing an additional 10,540 shares in the last quarter. NewEdge Advisors LLC increased its stake in Gladstone Land by 1,521.9% during the 3rd quarter. NewEdge Advisors LLC now owns 266,414 shares of the real estate investment trust’s stock worth $2,440,000 after buying an additional 249,988 shares during the period. Verition Fund Management LLC acquired a new position in Gladstone Land in the 3rd quarter worth $297,000. Moors & Cabot Inc. boosted its position in Gladstone Land by 4.7% in the 3rd quarter. Moors & Cabot Inc. now owns 114,200 shares of the real estate investment trust’s stock valued at $1,046,000 after buying an additional 5,080 shares during the last quarter. Finally, Millennium Management LLC increased its position in shares of Gladstone Land by 570.2% during the third quarter. Millennium Management LLC now owns 283,538 shares of the real estate investment trust’s stock worth $2,597,000 after acquiring an additional 241,231 shares during the last quarter. Hedge funds and other institutional investors own 53.60% of the company’s stock.

About Gladstone Land

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.