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

Gladstone Land Corporation (NASDAQ:LAND) announced a monthly dividend on Tuesday, July 14th. Stockholders of record on Friday, July 24th will be paid a dividend of 0.0467 per share by the real estate investment trust on Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 6.3%. The ex-dividend date of this dividend is Friday, July 24th.

Gladstone Land has decreased 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% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 Trading Up 1.5%

Shares of Gladstone Land stock opened at $8.83 on Wednesday. The firm has a market cap of $380.93 million, a price-to-earnings ratio of -14.48 and a beta of 1.06. Gladstone Land has a 52-week low of $8.40 and a 52-week high of $13.00. The company’s 50-day simple moving average is $8.98 and its 200-day simple moving average is $9.98. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.70.

Gladstone Land (NASDAQ:LAND) last announced its quarterly earnings data on Monday, May 11th. The real estate investment trust reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.02). Gladstone Land had a negative net margin of 6.68% and a negative return on equity of 0.87%. The firm had revenue of $16.55 million during the quarter, compared to analyst estimates of $14.20 million. As a group, equities research analysts anticipate that Gladstone Land will post 0.45 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on LAND shares. Lucid Cap Mkts raised Gladstone Land from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 14th. Weiss Ratings lowered Gladstone Land from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 13th. Finally, Wall Street Zen lowered Gladstone Land from a “sell” rating to a “strong sell” rating in a report on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Gladstone Land currently has a consensus rating of “Hold” and an average target price of $10.00.

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.