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

Gladstone Commercial Co. (NASDAQ:GOOD) announced a monthly dividend on Thursday, January 16th,Wall Street Journal reports. Investors of record on Wednesday, March 19th will be given 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 dividend yield of 7.45%. The ex-dividend date is Wednesday, March 19th.

Gladstone Commercial has increased its dividend by an average of 41.6% per year 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 Stock Performance

Shares of GOOD stock opened at $16.11 on Thursday. The stock has a fifty day moving average price of $16.67 and a 200 day moving average price of $15.80. The company has a debt-to-equity ratio of 4.10, a quick ratio of 3.54 and a current ratio of 3.54. The stock has a market cap of $707.55 million, a PE ratio of 80.55, a P/E/G ratio of 1.81 and a beta of 1.25. Gladstone Commercial has a 1 year low of $11.89 and a 1 year high of $17.88.

Analyst Upgrades and Downgrades

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