Gladstone Land (NASDAQ:LAND) Releases Earnings Results, Meets Expectations

Gladstone Land (NASDAQ:LAND) issued its quarterly earnings results on Monday. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06, Zacks reports. Gladstone Land had a return on equity of 1.89% and a net margin of 15.59%.

Gladstone Land Stock Up 0.3%

Gladstone Land stock traded up $0.03 during midday trading on Monday, reaching $9.65. The company’s stock had a trading volume of 357,344 shares, compared to its average volume of 267,852. The stock’s 50-day simple moving average is $10.11 and its 200-day simple moving average is $10.99. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.99 and a quick ratio of 0.70. Gladstone Land has a 52-week low of $8.66 and a 52-week high of $15.36. The stock has a market capitalization of $349.19 million, a P/E ratio of -33.27, a PEG ratio of 3.74 and a beta of 1.15.

Gladstone Land Announces Dividend

The firm also recently declared a dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 22nd were paid a $0.0467 dividend. This represents a yield of 5.75%. The ex-dividend date of this dividend was Monday, April 21st. Gladstone Land’s dividend payout ratio (DPR) 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 the business’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $11.02, for a total transaction of $72,743.02. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 7.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

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.