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

Gladstone Commercial Co. (NASDAQ:GOOD) declared a dividend on Wednesday, January 22nd,investing.com reports. Investors 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 increased its dividend payment by an average of 41.6% annually over the last three years. Gladstone Commercial has a dividend 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 Price Performance

Shares of GOOD traded down $0.27 during mid-day trading on Wednesday, hitting $16.12. 320,288 shares of the company were exchanged, compared to its average volume of 201,414. The stock has a market cap of $707.99 million, a price-to-earnings ratio of 80.60, a price-to-earnings-growth ratio of 1.88 and a beta of 1.25. The company has a debt-to-equity ratio of 4.10, a quick ratio of 3.54 and a current ratio of 3.54. Gladstone Commercial has a 1-year low of $11.89 and a 1-year high of $17.88. The company has a 50 day moving average of $16.60 and a 200-day moving average of $15.87.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on GOOD shares. Canaccord Genuity Group raised shares of Gladstone Commercial to a “strong-buy” rating in a research note on Friday, October 4th. StockNews.com cut shares of Gladstone Commercial from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Finally, B. Riley restated a “neutral” rating and issued a $15.00 price objective (up from $13.50) on shares of Gladstone Commercial in a report on Thursday, October 10th.

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.