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

Gladstone Commercial Co. (NASDAQ:GOOD) declared a dividend on Tuesday, January 21st,investing.com reports. Stockholders of record on Monday, January 27th will be paid a dividend of 0.10 per share by the real estate investment trust on Friday, January 31st. This represents a dividend yield of 7.32%. The ex-dividend date of this dividend is Friday, January 24th.

Gladstone Commercial has raised its dividend payment by an average of 41.6% annually over the last three years. Gladstone Commercial has a 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. 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 Price Performance

GOOD stock traded up $0.08 during trading on Tuesday, hitting $16.39. The company had a trading volume of 240,561 shares, compared to its average volume of 191,505. The company has a fifty day moving average price of $16.62 and a two-hundred day moving average price of $15.86. The company has a current ratio of 3.54, a quick ratio of 3.54 and a debt-to-equity ratio of 4.10. Gladstone Commercial has a fifty-two week low of $11.89 and a fifty-two week high of $17.88. The company has a market cap of $719.85 million, a P/E ratio of 81.95, a P/E/G ratio of 1.88 and a beta of 1.25.

Analysts Set New Price Targets

GOOD has been the subject of several research reports. StockNews.com cut Gladstone Commercial from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. B. Riley reissued a “neutral” rating and issued 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.