Gladstone Land Corporation (LAND) To Go Ex-Dividend on October 23rd

Gladstone Land Corporation (NASDAQ:LAND) declared a monthly dividend on Tuesday, October 13th. Shareholders of record on Friday, October 23rd will be paid a dividend of $0.0467 per share by the real estate investment trust on Friday, October 30th. This represents a $0.56 annualized dividend and a yield of 6.3%. The ex-dividend date of this dividend is Friday, October 23rd.

Gladstone Land has a dividend 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. 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 Stock Performance

NASDAQ LAND opened at $8.84 on Wednesday. Gladstone Land has a 1-year low of $7.92 and a 1-year high of $13.00. The company has a market capitalization of $381.40 million, a P/E ratio of -16.07 and a beta of 1.10. The business has a 50 day moving average price of $9.26 and a 200 day moving average price of $9.22. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.29 and a quick ratio of 1.29.

Gladstone Land (NASDAQ:LAND) last announced its quarterly earnings results on Tuesday, August 11th. The real estate investment trust reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.06). The business had revenue of $12.69 million during the quarter, compared to analysts’ expectations of $12.28 million. Gladstone Land had a negative net margin of 7.31% and a negative return on equity of 0.96%. Sell-side analysts expect that Gladstone Land will post 0.48 EPS for the current fiscal year.

Gladstone Land Company Profile

Gladstone Land Corporation (NASDAQ: LAND) is a real estate investment trust that owns and leases farmland in the United States. The company focuses on agricultural properties that produce a range of crops, including fruits, vegetables, and other specialty crops, as well as certain row crops.

Gladstone Land generally leases its properties to farmers and agricultural operators under long-term agreements, often structured as triple-net leases. These arrangements typically make tenants responsible for property-level operating costs, while Gladstone Land remains focused on owning and managing the underlying farmland.

Founded in 1997, the company has built a portfolio of farms across major U.S.