Gladstone Land (NASDAQ:LAND) Issues Quarterly Earnings Results, Hits Expectations

Gladstone Land (NASDAQ:LAND) posted its earnings results on Monday. The real estate investment trust reported $0.06 EPS for the quarter, meeting the consensus estimate 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 Performance

LAND stock traded up $0.03 during trading on Monday, reaching $9.65. 358,154 shares of the stock were exchanged, compared to its average volume of 378,949. The company has a current ratio of 0.99, a quick ratio of 0.70 and a debt-to-equity ratio of 0.77. The stock has a 50 day simple moving average of $10.11 and a 200-day simple moving average of $10.99. The company has a market capitalization of $349.19 million, a P/E ratio of -33.27, a price-to-earnings-growth ratio of 3.74 and a beta of 1.15. Gladstone Land has a twelve month low of $8.66 and a twelve month high of $15.36.

Gladstone Land Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 22nd were paid a $0.0467 dividend. The ex-dividend date of this dividend was Monday, April 21st. This represents a dividend yield of 5.75%. Gladstone Land’s payout ratio is presently -193.10%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Gladstone Land

In related news, Director Anthony W. Parker sold 6,601 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $11.02, for a total value of $72,743.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 7.20% of the company’s stock.

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.