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

Gladstone Commercial Co. (NASDAQ:GOOD) declared a dividend on Monday, January 20th,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 7.36%. The ex-dividend date of this dividend is Friday, January 24th.

Gladstone Commercial has increased its dividend by an average of 41.6% annually over the last three years. Gladstone Commercial has a dividend payout ratio of 413.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 0.5 %

Shares of GOOD stock traded down $0.08 on Monday, reaching $16.31. 225,748 shares of the company’s stock were exchanged, compared to its average volume of 231,981. The company’s fifty day simple moving average is $16.64 and its 200 day simple moving average is $15.84. Gladstone Commercial has a 52 week low of $11.89 and a 52 week high of $17.88. The company has a current ratio of 3.54, a quick ratio of 3.54 and a debt-to-equity ratio of 4.10. The stock has a market capitalization of $716.34 million, a PE ratio of 81.55, a P/E/G ratio of 1.81 and a beta of 1.25.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GOOD. Canaccord Genuity Group upgraded shares of Gladstone Commercial to a “strong-buy” rating in a report on Friday, October 4th. StockNews.com downgraded Gladstone Commercial from a “buy” rating to a “hold” rating in a report on Wednesday, December 18th. Finally, B. Riley reiterated a “neutral” rating and set a $15.00 target price (up from $13.50) on shares of Gladstone Commercial in a report on Thursday, October 10th.

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.