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

Gladstone Commercial Co. (NASDAQ:GOOD) declared a monthly dividend on Wednesday, January 15th,Wall Street Journal reports. Investors of record on Wednesday, March 19th will be paid a dividend of 0.10 per share by the real estate investment trust on Monday, March 31st. This represents a $1.20 dividend on an annualized basis and a yield of 7.44%. The ex-dividend date of this dividend is Wednesday, March 19th.

Gladstone Commercial has raised its dividend payment by an average of 41.6% per year 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. 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 Up 1.6 %

NASDAQ GOOD traded up $0.25 on Wednesday, hitting $16.13. The company’s stock had a trading volume of 125,743 shares, compared to its average volume of 179,809. The company’s 50-day moving average is $16.69 and its 200 day moving average is $15.80. The firm has a market cap of $708.41 million, a PE ratio of 80.65, a PEG ratio of 1.96 and a beta of 1.25. 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.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GOOD. 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 report on Thursday, October 10th. StockNews.com downgraded shares of Gladstone Commercial from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th. 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.