Gladstone Land (NASDAQ:LAND) Releases Earnings Results

Gladstone Land (NASDAQ:LAND) announced its earnings results on Tuesday. The real estate investment trust reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.48, Zacks reports. Gladstone Land had a negative net margin of 7.31% and a negative return on equity of 0.96%. The company had revenue of $31.47 million during the quarter, compared to the consensus estimate of $16.54 million.

Gladstone Land Trading Down 1.4%

Shares of LAND opened at $6.88 on Wednesday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.72. Gladstone Land has a 12-month low of $6.83 and a 12-month high of $13.00. The firm has a market capitalization of $296.80 million, a PE ratio of 15.11 and a beta of 1.17. The stock’s fifty day simple moving average is $9.00 and its 200-day simple moving average is $9.56.

Gladstone Land Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Monday, December 21st will be paid a dividend of $0.0467 per share. This represents a $0.56 annualized dividend and a dividend yield of 8.1%. The ex-dividend date of this dividend is Monday, December 21st. Gladstone Land’s dividend payout ratio is -101.82%.

Analyst Ratings Changes

Separately, Weiss Ratings cut shares of Gladstone Land from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold”.

Gladstone Land Company Profile

Gladstone Land Corporation is a real estate investment trust (REIT) that owns and leases farmland. The company focuses primarily on high-quality agricultural properties that produce specialty crops, such as fruits, vegetables, nuts and vineyards, as well as annual row crops. Gladstone Land generally leases its properties to experienced farmers and agricultural operators under long-term, often triple-net lease agreements. These arrangements typically make tenants responsible for property operating expenses, while the company seeks to generate rental income from a diversified portfolio of farmland.