Gladstone Land Corporation (LAND) Posts Quarterly Earnings Results, Misses Expectations By $0.04 EPS
Gladstone Land Corporation (NASDAQ:LAND) released its earnings results on Tuesday. The real estate investment trust reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.18 by $0.04, Bloomberg Earnings reports. Gladstone Land Corporation had a return on equity of 0.45% and a net margin of 2.10%.
Gladstone Land Corporation (LAND) traded down 0.39% during mid-day trading on Tuesday, hitting $12.80. The company had a trading volume of 247,189 shares. The company has a 50-day moving average price of $11.63 and a 200 day moving average price of $11.55. The company has a market capitalization of $151.68 million, a P/E ratio of 355.56 and a beta of 1.03. Gladstone Land Corporation has a 52-week low of $9.51 and a 52-week high of $13.10.
The company also recently disclosed a monthly dividend, which will be paid on Friday, September 29th. Investors of record on Wednesday, September 20th will be issued a $0.044 dividend. The ex-dividend date is Tuesday, September 19th. This represents a $0.53 annualized dividend and a dividend yield of 4.13%. Gladstone Land Corporation’s payout ratio is currently 1,325.33%.
Several research firms have recently weighed in on LAND. Zacks Investment Research downgraded Gladstone Land Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Ladenburg Thalmann Financial Services restated a “buy” rating on shares of Gladstone Land Corporation in a report on Wednesday, June 28th. Finally, Singular Research started coverage on Gladstone Land Corporation in a report on Thursday, May 18th. They issued a “buy” rating and a $14.25 price objective for the company.
In other Gladstone Land Corporation news, CEO David Gladstone bought 20,000 shares of the business’s stock in a transaction dated Wednesday, June 14th. The shares were acquired at an average price of $11.38 per share, with a total value of $227,600.00. Following the transaction, the chief executive officer now owns 1,988,585 shares of the company’s stock, valued at $22,630,097.30. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 21.87% of the stock is currently owned by company insiders.
Gladstone Land Corporation Company Profile
Gladstone Land Corporation is an agricultural real estate investment trust (REIT). The Company is engaged in the business of owning and leasing farmland. The Company also owns various farm-related facilities, such as cooling facilities, buildings utilized for the storage and assembly of boxes for shipping produce (box barns), packinghouses, processing facilities and various storage facilities.
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