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

Gladstone Commercial Co. (NASDAQ:GOOD) declared a monthly dividend on Tuesday, October 8th, Zacks reports. Investors of record on Tuesday, October 22nd will be paid a dividend of 0.10 per share by the real estate investment trust on Thursday, October 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.27%. The ex-dividend date of this dividend is Tuesday, October 22nd.

Gladstone Commercial has raised its dividend by an average of 28.9% annually over the last three years. Gladstone Commercial has a payout ratio of -1,200.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 Stock Performance

Shares of GOOD stock opened at $16.51 on Monday. The company has a current ratio of 3.29, a quick ratio of 3.29 and a debt-to-equity ratio of 4.95. The firm has a fifty day simple moving average of $15.57 and a two-hundred day simple moving average of $14.65. Gladstone Commercial has a 12 month low of $11.40 and a 12 month high of $16.61. The firm has a market capitalization of $661.29 million, a PE ratio of -86.89, a price-to-earnings-growth ratio of 1.94 and a beta of 1.21.

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

Analyst Ratings Changes

GOOD has been the topic of a number of recent research reports. Canaccord Genuity Group upgraded Gladstone Commercial to a “strong-buy” rating in a report on Friday, October 4th. B. Riley reaffirmed a “neutral” rating and set a $15.00 price objective (up from $13.50) on shares of Gladstone Commercial in a report on Thursday, October 10th. Finally, StockNews.com lowered shares of Gladstone Commercial from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th.

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.