Gladstone Land Corp (NASDAQ:LAND) Plans Dividend Increase – $0.05 Per Share

Gladstone Land Corp (NASDAQ:LAND) declared a dividend on Tuesday, July 9th, NASDAQ reports. Shareholders of record on Tuesday, August 20th will be paid a dividend of 0.045 per share by the real estate investment trust on Friday, August 30th. The ex-dividend date of this dividend is Monday, August 19th. This is a positive change from Gladstone Land’s previous dividend of $0.04.

Gladstone Land has raised its dividend payment by an average of 4.6% annually over the last three years and has raised its dividend every year for the last 3 years. Gladstone Land has a payout ratio of 120.5% 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 analysts expect Gladstone Land to earn $0.52 per share next year, which means the company may not be able to cover its $0.53 annual dividend with an expected future payout ratio of 101.9%.

Shares of LAND opened at $11.64 on Friday. The stock has a fifty day moving average price of $11.56 and a two-hundred day moving average price of $12.12. The company has a debt-to-equity ratio of 1.51, a quick ratio of 3.14 and a current ratio of 3.14. Gladstone Land has a 52-week low of $11.12 and a 52-week high of $13.85. The company has a market cap of $239.73 million, a price-to-earnings ratio of 21.45 and a beta of 0.79.

Gladstone Land (NASDAQ:LAND) last issued its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported ($0.04) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.16). Gladstone Land had a net margin of 15.13% and a return on equity of 2.59%. The business had revenue of $8.36 million during the quarter. As a group, research analysts predict that Gladstone Land will post 0.46 EPS for the current fiscal year.

Several brokerages have issued reports on LAND. Zacks Investment Research downgraded Gladstone Land from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Maxim Group set a $15.00 price objective on Gladstone Land and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, ValuEngine upgraded Gladstone Land from a “hold” rating to a “buy” rating in a research report on Tuesday, August 6th.

About Gladstone Land

Gladstone Land is a publicly-traded real estate investment trust that invests in farmland and farm-related properties located in major agricultural markets in the U.S., which it leases to unrelated third-party farmer-tenants. The Company reports the current fair value of its farmland on a quarterly basis; as of December 31, 2018, its estimated net asset value was $12.88 per share.

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Dividend History for Gladstone Land (NASDAQ:LAND)

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