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

Gladstone Commercial Co. (NASDAQ:GOOD) declared a dividend on Friday, January 24th,investing.com reports. Shareholders 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 yield of 7.48%. The ex-dividend date of this dividend is Friday, January 24th.

Gladstone Commercial has increased its dividend 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. 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 stock traded down $0.07 on Friday, reaching $16.04. The company’s stock had a trading volume of 159,398 shares, compared to its average volume of 205,240. The company has a market capitalization of $704.46 million, a P/E ratio of 80.20, a PEG ratio of 1.86 and a beta of 1.25. Gladstone Commercial has a 12-month low of $11.89 and a 12-month high of $17.88. The stock’s 50 day simple moving average is $16.57 and its 200-day simple moving average is $15.88. 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 Ratings Changes

A number of analysts have recently issued reports on the company. StockNews.com downgraded Gladstone Commercial from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Canaccord Genuity Group upgraded shares of Gladstone Commercial to a “strong-buy” rating in a research report on Friday, October 4th. Finally, 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.

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.