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

Gladstone Commercial Co. (NASDAQ:GOOD) declared a monthly dividend on Wednesday, April 9th, Wall Street Journal reports. Shareholders of record on Friday, June 20th will be given a dividend of 0.10 per share by the real estate investment trust on Monday, June 30th. This represents a $1.20 annualized dividend and a yield of 9.02%. The ex-dividend date is Friday, June 20th.

Gladstone Commercial has increased its dividend payment by an average of 41.4% annually over the last three years. Gladstone Commercial has a dividend payout ratio of 545.5% indicating that 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 $1.50 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 80.0%.

Gladstone Commercial Trading Down 2.9 %

Gladstone Commercial stock opened at $13.30 on Friday. The company has a debt-to-equity ratio of 4.05, a current ratio of 5.68 and a quick ratio of 3.54. The firm’s 50 day moving average price is $15.26 and its 200-day moving average price is $16.03. Gladstone Commercial has a 1 year low of $12.67 and a 1 year high of $17.88. The stock has a market cap of $608.57 million, a P/E ratio of 51.15, a PEG ratio of 1.82 and a beta of 1.17.

Gladstone Commercial (NASDAQ:GOOD) last announced its quarterly earnings results on Tuesday, February 18th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.24. Gladstone Commercial had a net margin of 16.09% and a return on equity of 15.16%. The company had revenue of $37.38 million for the quarter, compared to the consensus estimate of $38.04 million. On average, equities analysts predict that Gladstone Commercial will post 1.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Gladstone Commercial from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th.

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.