Gladstone Commercial Co. (NASDAQ:GOOD) Announces Monthly Dividend of $0.10

Gladstone Commercial Co. (NASDAQ:GOOD) declared a monthly dividend on Friday, October 11th, Wall Street Journal reports. Shareholders of record on Wednesday, November 20th will be paid a dividend of 0.10 per share by the real estate investment trust on Friday, November 29th. This represents a $1.20 dividend on an annualized basis and a yield of 7.45%. The ex-dividend date is Wednesday, November 20th.

Gladstone Commercial has increased its dividend payment by an average of 28.9% per year over the last three years. Gladstone Commercial has a dividend payout ratio of -1,090.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Gladstone Commercial to earn $1.39 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 86.3%.

Gladstone Commercial Stock Up 0.9 %

GOOD traded up $0.14 during trading on Friday, hitting $16.10. The stock had a trading volume of 119,179 shares, compared to its average volume of 245,668. The stock has a 50 day simple moving average of $15.35 and a two-hundred day simple moving average of $14.52. The company has a market capitalization of $684.73 million, a PE ratio of -401.25, a PEG ratio of 1.94 and a beta of 1.21. Gladstone Commercial has a twelve month low of $11.40 and a twelve month high of $16.43. The company has a debt-to-equity ratio of 4.95, a quick ratio of 3.29 and a current ratio of 3.29.

Gladstone Commercial (NASDAQ:GOOD) last announced its earnings results on Tuesday, August 6th. The real estate investment trust reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.37). The company had revenue of $37.06 million during the quarter, compared to analyst estimates of $35.89 million. Gladstone Commercial had a net margin of 7.90% and a return on equity of 7.34%. During the same quarter last year, the business earned $0.41 EPS. On average, research analysts predict that Gladstone Commercial will post 1.38 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Canaccord Genuity Group raised shares of Gladstone Commercial to a “strong-buy” rating in a research note on Friday, October 4th. StockNews.com downgraded shares of Gladstone Commercial from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Finally, B. Riley reiterated a “neutral” rating and issued a $15.00 price target (up previously from $13.50) on shares of Gladstone Commercial in a report on Thursday.

About Gladstone Commercial

Gladstone Commercial Corporation is a real estate investment trust focused on acquiring, owning, and operating net leased industrial and office properties across the United States. Including payments through January 2024, Gladstone Commercial has paid 229 consecutive monthly cash distributions on its common stock.