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

Gladstone Commercial Co. (NASDAQ:GOOD) announced a monthly dividend on Wednesday, January 15th,Wall Street Journal reports. Shareholders of record on Wednesday, March 19th will be paid a dividend of 0.10 per share by the real estate investment trust on Monday, March 31st. This represents a $1.20 annualized dividend and a dividend yield of 7.45%. The ex-dividend date is Wednesday, March 19th.

Gladstone Commercial has increased its dividend payment by an average of 41.6% annually over the last three years. Gladstone Commercial has a payout ratio of 413.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Gladstone Commercial to earn $1.45 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 82.8%.

Gladstone Commercial Stock Performance

Shares of GOOD stock opened at $16.11 on Thursday. Gladstone Commercial has a 12-month low of $11.89 and a 12-month high of $17.88. The company has a debt-to-equity ratio of 4.10, a current ratio of 3.54 and a quick ratio of 3.54. The firm has a market capitalization of $707.55 million, a price-to-earnings ratio of 80.55, a price-to-earnings-growth ratio of 1.81 and a beta of 1.25. The business has a 50 day simple moving average of $16.67 and a 200 day simple moving average of $15.80.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Canaccord Genuity Group raised Gladstone Commercial to a “strong-buy” rating in a research note on Friday, October 4th. StockNews.com cut shares of Gladstone Commercial from a “buy” rating to a “hold” rating in a report on Wednesday, December 18th. Finally, B. Riley reiterated a “neutral” rating and set a $15.00 price objective (up previously from $13.50) on shares of Gladstone Commercial in a research note on Thursday, October 10th.

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.