Gladstone Land (NASDAQ:LAND) Announces Quarterly Earnings Results, Beats Expectations By $0.19 EPS

Gladstone Land (NASDAQ:LAND) announced its quarterly earnings results on Wednesday. The real estate investment trust reported $0.09 EPS for the quarter, beating the consensus estimate of ($0.10) by $0.19, Zacks reports. Gladstone Land had a return on equity of 2.05% and a net margin of 16.45%.

Gladstone Land Price Performance

Gladstone Land stock traded down $0.12 on Wednesday, reaching $11.52. The company’s stock had a trading volume of 233,725 shares, compared to its average volume of 339,818. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market cap of $416.91 million, a price-to-earnings ratio of -44.31, a PEG ratio of 3.72 and a beta of 1.05. The business’s fifty day moving average price is $10.86 and its 200 day moving average price is $12.43. Gladstone Land has a twelve month low of $10.27 and a twelve month high of $15.36.

Gladstone Land Increases Dividend

The firm also recently disclosed a dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, January 27th were paid a $0.0467 dividend. The ex-dividend date of this dividend was Friday, January 24th. This represents a yield of 5.33%. This is a positive change from Gladstone Land’s previous dividend of $0.04. Gladstone Land’s payout ratio is currently -215.38%.

Analyst Ratings Changes

Separately, Alliance Global Partners lowered Gladstone Land from a “buy” rating to a “neutral” rating and decreased their price target for the company from $16.00 to $14.50 in a research note on Friday, November 8th.

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.