Gladstone Land Corporation (NASDAQ:LAND) to Issue Monthly Dividend of $0.05

Gladstone Land Corporation (NASDAQ:LAND) declared a monthly dividend on Monday, July 14th, Wall Street Journal reports. Shareholders of record on Monday, September 22nd will be paid a dividend of 0.0467 per share by the real estate investment trust on Tuesday, September 30th. This represents a $0.56 annualized dividend and a yield of 5.48%. The ex-dividend date is Monday, September 22nd.

Gladstone Land has a 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. Research analysts expect Gladstone Land to earn $0.61 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 91.8%.

Gladstone Land Stock Down 3.4%

Shares of LAND opened at $10.22 on Wednesday. Gladstone Land has a one year low of $8.66 and a one year high of $15.36. The company has a market cap of $369.86 million, a P/E ratio of -40.88, a P/E/G ratio of 4.15 and a beta of 1.11. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.73 and a quick ratio of 2.73. The firm has a 50 day simple moving average of $10.03 and a two-hundred day simple moving average of $10.38.

Gladstone Land (NASDAQ:LAND) last announced its quarterly earnings data on Monday, May 12th. The real estate investment trust reported $0.06 EPS for the quarter, beating the consensus estimate of $0.03 by $0.03. Gladstone Land had a net margin of 18.14% and a return on equity of 2.14%. The business had revenue of $16.80 million during the quarter, compared to the consensus estimate of $17.30 million. Research analysts forecast that Gladstone Land will post 0.52 EPS for the current fiscal year.

Wall Street Analyst Weigh In

LAND has been the subject of several research analyst reports. Oppenheimer reiterated an “outperform” rating on shares of Gladstone Land in a report on Friday, May 23rd. Wall Street Zen upgraded shares of Gladstone Land from a “sell” rating to a “hold” rating in a report on Wednesday, May 14th. Finally, Alliance Global Partners reiterated a “neutral” rating on shares of Gladstone Land in a report on Tuesday, May 13th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LAND. Strs Ohio acquired a new stake in Gladstone Land in the first quarter valued at $63,000. Acadian Asset Management LLC acquired a new stake in Gladstone Land in the first quarter valued at $273,000. AQR Capital Management LLC increased its holdings in Gladstone Land by 12.1% in the first quarter. AQR Capital Management LLC now owns 35,991 shares of the real estate investment trust’s stock valued at $379,000 after purchasing an additional 3,889 shares during the period. Jane Street Group LLC boosted its position in Gladstone Land by 141.1% during the first quarter. Jane Street Group LLC now owns 108,843 shares of the real estate investment trust’s stock valued at $1,145,000 after acquiring an additional 63,702 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Gladstone Land by 5.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 407,183 shares of the real estate investment trust’s stock worth $4,284,000 after acquiring an additional 22,557 shares during the period. 53.60% of the stock is currently owned by institutional investors and hedge funds.

Gladstone Land Company Profile

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.