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

Gladstone Commercial Co. (NASDAQ:GOOD) announced a dividend on Tuesday, January 21st,investing.com reports. Investors of record on Monday, January 27th will be given a dividend of 0.10 per share by the real estate investment trust on Friday, January 31st. This represents a yield of 7.32%. The ex-dividend date of this dividend is Friday, January 24th.

Gladstone Commercial has raised 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. 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 Price Performance

Shares of Gladstone Commercial stock traded up $0.08 during mid-day trading on Tuesday, reaching $16.39. 240,561 shares of the stock traded hands, compared to its average volume of 191,505. The business has a 50-day moving average of $16.62 and a 200 day moving average of $15.86. Gladstone Commercial has a fifty-two week low of $11.89 and a fifty-two week high of $17.88. The company has a quick ratio of 3.54, a current ratio of 3.54 and a debt-to-equity ratio of 4.10. The stock has a market capitalization of $719.85 million, a PE ratio of 81.95, a PEG ratio of 1.88 and a beta of 1.25.

Analyst Ratings Changes

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

Gladstone Commercial Company Profile

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.