Gladstone Land Corporation (LAND) To Go Ex-Dividend on May 20th

Gladstone Land Corporation (NASDAQ:LAND) declared a monthly dividend on Tuesday, April 14th. Investors of record on Wednesday, May 20th will be given a dividend of 0.0467 per share by the real estate investment trust on Friday, May 29th. This represents a c) dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date is Wednesday, May 20th.

Gladstone Land has decreased its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 2 years. 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. 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 Price Performance

Gladstone Land stock opened at $9.40 on Monday. Gladstone Land has a 52 week low of $8.47 and a 52 week high of $13.00. The company’s 50 day moving average price is $10.42 and its two-hundred day moving average price is $10.05. The stock has a market cap of $405.52 million, a P/E ratio of -15.41 and a beta of 1.07. 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 posted its quarterly earnings data on Monday, May 11th. The real estate investment trust reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.02). The business had revenue of $16.55 million during the quarter, compared to analysts’ expectations of $14.20 million. Gladstone Land had a negative return on equity of 0.87% and a negative net margin of 6.68%. On average, equities analysts predict that Gladstone Land will post 0.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Zacks Research downgraded shares of Gladstone Land from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 10th. Lucid Cap Mkts raised shares of Gladstone Land from a “hold” rating to a “strong-buy” rating in a research report on Thursday. Wall Street Zen cut shares of Gladstone Land from a “sell” rating to a “strong sell” rating in a research note on Saturday. Finally, Weiss Ratings downgraded shares of Gladstone Land from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Gladstone Land currently has a consensus rating of “Hold” and an average price target of $10.00.

Gladstone Land Company Profile

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.