Gladstone Commercial Corporation (NASDAQ:GOOD) Shares to Pay Monthly Dividend of $0.10

Gladstone Commercial Corporation (NASDAQ:GOOD) declared a monthly dividend on Tuesday, October 13th. Investors of record on Thursday, November 19th will be given a dividend of $0.10 per share by the real estate investment trust on Monday, November 30th. This represents a $1.20 dividend on an annualized basis and a yield of 9.3%. The ex-dividend date of this dividend is Thursday, November 19th.

Gladstone Commercial has a dividend 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. Equities research analysts expect Gladstone Commercial to earn $1.41 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 85.1%.

Gladstone Commercial Stock Up 0.2%

Shares of GOOD opened at $12.84 on Wednesday. The firm has a market capitalization of $621.58 million, a P/E ratio of 49.39 and a beta of 1.07. Gladstone Commercial has a 12-month low of $10.33 and a 12-month high of $13.28. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 5.43. The firm has a fifty day moving average price of $12.83 and a 200-day moving average price of $12.59.

Gladstone Commercial (NASDAQ:GOOD) last announced its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.07. Gladstone Commercial had a return on equity of 14.61% and a net margin of 14.55%. The firm had revenue of $43.99 million during the quarter, compared to analyst estimates of $42.18 million. Equities research analysts expect that Gladstone Commercial will post 1.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Huntington assumed coverage on Gladstone Commercial in a research note on Wednesday, July 15th. They issued a “market perform” rating and a $13.00 target price on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Gladstone Commercial in a research report on Monday, August 24th. Four equities research analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $12.83.

Gladstone Commercial Company Profile

Gladstone Commercial Corporation is a real estate investment trust (REIT) that acquires, owns and manages income-producing commercial real estate in the United States. The company primarily invests in office and industrial properties, including single-tenant and select multi-tenant facilities leased to business and government tenants.

Gladstone Commercial generally leases its properties under long-term arrangements and seeks to generate rental income through a diversified portfolio of commercial real estate.