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

Gladstone Commercial Co. (NASDAQ:GOOD) announced a monthly dividend on Tuesday, October 8th, Wall Street Journal reports. Investors of record on Tuesday, October 22nd will be given a dividend of 0.10 per share by the real estate investment trust on Thursday, October 31st. This represents a $1.20 annualized dividend and a yield of 7.37%. The ex-dividend date is Tuesday, October 22nd.

Gladstone Commercial has increased its dividend payment by an average of 28.9% annually over the last three years. Gladstone Commercial has a payout ratio of -1,200.0% 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 $1.39 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 86.3%.

Gladstone Commercial Price Performance

Gladstone Commercial stock traded down $0.23 during mid-day trading on Monday, hitting $16.28. The company’s stock had a trading volume of 190,544 shares, compared to its average volume of 244,105. The stock has a market capitalization of $652.08 million, a P/E ratio of -85.68, a P/E/G ratio of 1.94 and a beta of 1.21. Gladstone Commercial has a twelve month low of $11.40 and a twelve month high of $16.61. The stock’s fifty day moving average price is $15.57 and its two-hundred day moving average price is $14.65. The company has a quick ratio of 3.29, a current ratio of 3.29 and a debt-to-equity ratio of 4.95.

Gladstone Commercial (NASDAQ:GOOD) last issued its earnings results on Tuesday, August 6th. The real estate investment trust reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.37). The company had revenue of $37.06 million during the quarter, compared to analyst estimates of $35.89 million. Gladstone Commercial had a return on equity of 7.34% and a net margin of 7.90%. During the same quarter in the previous year, the firm earned $0.41 earnings per share. Research analysts forecast that Gladstone Commercial will post 1.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GOOD. StockNews.com downgraded Gladstone Commercial from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. B. Riley restated 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. Finally, Canaccord Genuity Group raised shares of Gladstone Commercial to a “strong-buy” rating in a research note on Friday, October 4th.

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.