Gladstone Land (NASDAQ:LAND) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Gladstone Land (NASDAQ:LAND) posted its quarterly earnings data on Monday. The real estate investment trust reported $0.06 EPS for the quarter, beating the consensus estimate of $0.03 by $0.03, Zacks reports. Gladstone Land had a return on equity of 1.89% and a net margin of 15.59%. The firm had revenue of $16.80 million during the quarter, compared to the consensus estimate of $17.30 million.

Gladstone Land Stock Performance

Shares of Gladstone Land stock opened at $9.65 on Tuesday. The business’s 50 day moving average price is $10.07 and its 200 day moving average price is $10.97. The company has a market cap of $349.19 million, a price-to-earnings ratio of -33.27, a PEG ratio of 3.74 and a beta of 1.15. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.70 and a current ratio of 0.99. Gladstone Land has a one year low of $8.66 and a one year high of $15.36.

Gladstone Land Announces Dividend

The business also recently declared a dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, April 22nd were issued a $0.0467 dividend. The ex-dividend date of this dividend was Monday, April 21st. This represents a dividend yield of 5.75%. Gladstone Land’s dividend payout ratio is presently -193.10%.

Insider Buying and Selling at Gladstone Land

In other Gladstone Land news, Director Anthony W. Parker sold 6,601 shares of Gladstone Land stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $11.02, for a total transaction of $72,743.02. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 7.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Gladstone Land from a “hold” rating to a “sell” rating in a research report on Wednesday, March 5th.

About Gladstone Land

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.