Gladstone Commercial Co. (GOOD) to Issue Dividend of $0.10 on January 31st

Gladstone Commercial Co. (NASDAQ:GOOD) announced a dividend on Wednesday, January 22nd,investing.com reports. Stockholders 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 dividend yield of 7.44%. The ex-dividend date is Friday, January 24th.

Gladstone Commercial has raised its dividend 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. Equities research 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 Trading Down 1.6 %

Shares of NASDAQ:GOOD traded down $0.27 on Wednesday, hitting $16.12. The company had a trading volume of 320,288 shares, compared to its average volume of 201,414. The firm’s 50-day simple moving average is $16.60 and its two-hundred day simple moving average is $15.87. Gladstone Commercial has a 1 year low of $11.89 and a 1 year 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 firm has a market capitalization of $707.99 million, a price-to-earnings ratio of 80.60, a P/E/G ratio of 1.88 and a beta of 1.25.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. B. Riley restated a “neutral” rating and set a $15.00 price objective (up from $13.50) on shares of Gladstone Commercial in a research note on Thursday, October 10th. StockNews.com lowered shares of Gladstone Commercial from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Finally, Canaccord Genuity Group upgraded 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.