Gladstone Commercial Co. (NASDAQ:GOOD) to Issue $0.13 Monthly Dividend

Gladstone Commercial Co. (NASDAQ:GOOD) declared a monthly dividend on Tuesday, October 12th, Zacks reports. Investors of record on Friday, October 22nd will be paid a dividend of 0.125 per share by the real estate investment trust on Friday, October 29th. This represents a $1.50 dividend on an annualized basis and a yield of 6.95%. The ex-dividend date of this dividend is Thursday, October 21st.

Gladstone Commercial has increased its dividend payment by 0.1% over the last three years and has raised its dividend every year for the last 2 years. Gladstone Commercial has a payout ratio of -833.3% 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 $1.66 per share next year, which means the company should continue to be able to cover its $1.50 annual dividend with an expected future payout ratio of 90.4%.

Shares of GOOD opened at $21.57 on Thursday. The company has a market capitalization of $792.70 million, a P/E ratio of 13.74, a P/E/G ratio of 2.32 and a beta of 1.01. Gladstone Commercial has a one year low of $15.78 and a one year high of $23.49. The company has a debt-to-equity ratio of 3.22, a quick ratio of 6.58 and a current ratio of 6.58. The stock has a 50-day moving average price of $22.10 and a 200 day moving average price of $21.82.

Gladstone Commercial (NASDAQ:GOOD) last released its earnings results on Sunday, August 8th. The real estate investment trust reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). Gladstone Commercial had a return on equity of 6.68% and a net margin of 10.40%. The firm had revenue of $33.37 million for the quarter, compared to the consensus estimate of $34.47 million. As a group, equities research analysts forecast that Gladstone Commercial will post 1.57 earnings per share for the current fiscal year.

A number of research analysts have commented on GOOD shares. Zacks Investment Research downgraded Gladstone Commercial from a “buy” rating to a “hold” rating in a report on Wednesday, August 4th. Aegis increased their target price on Gladstone Commercial from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, August 10th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $25.50.

An institutional investor recently raised its position in Gladstone Commercial stock. Morgan Stanley boosted its holdings in Gladstone Commercial Co. (NASDAQ:GOOD) by 17.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 115,674 shares of the real estate investment trust’s stock after acquiring an additional 16,815 shares during the quarter. Morgan Stanley owned 0.31% of Gladstone Commercial worth $2,610,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 51.56% of the company’s stock.

Gladstone Commercial Company Profile

Gladstone Commercial Corp. is a real estate investment trust, which engages in the acquisition, managing and ownership of office and industrial properties. Its portfolio consists of single-tenant commercial and industrial real properties. The company was founded by David John Gladstone on February 14, 2003 and is headquartered in McLean, VA.

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Dividend History for Gladstone Commercial (NASDAQ:GOOD)

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