Gladstone Land Corporation (LAND) to Issue Monthly Dividend of $0.05 on November 30th

Gladstone Land Corporation (NASDAQ:LAND) announced a monthly dividend on Tuesday, October 13th. Stockholders of record on Thursday, November 19th will be paid a dividend of $0.0467 per share by the real estate investment trust on Monday, November 30th. This represents a $0.56 annualized dividend and a dividend yield of 5.9%. The ex-dividend date of this dividend is Thursday, November 19th.

Gladstone Land has a 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 $0.45 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 Performance

Shares of NASDAQ LAND opened at $9.53 on Thursday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.72. The business’s 50 day moving average is $9.19 and its two-hundred day moving average is $9.25. The company has a market cap of $411.12 million, a P/E ratio of 20.93 and a beta of 1.10. Gladstone Land has a 12 month low of $7.92 and a 12 month high of $13.00.

Gladstone Land (NASDAQ:LAND) last posted its quarterly earnings data on Tuesday, August 11th. The real estate investment trust reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.06). Gladstone Land had a negative return on equity of 0.96% and a negative net margin of 7.31%. The company had revenue of $12.69 million for the quarter, compared to the consensus estimate of $12.28 million. On average, equities analysts expect that Gladstone Land will post 0.48 EPS for the current year.

Gladstone Land Company Profile

Gladstone Land Corporation (NASDAQ: LAND) is a real estate investment trust that owns and leases farmland in the United States. The company focuses on agricultural properties that produce a range of crops, including fruits, vegetables, and other specialty crops, as well as certain row crops.

Gladstone Land generally leases its properties to farmers and agricultural operators under long-term agreements, often structured as triple-net leases. These arrangements typically make tenants responsible for property-level operating costs, while Gladstone Land remains focused on owning and managing the underlying farmland.

Founded in 1997, the company has built a portfolio of farms across major U.S.