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

Gladstone Commercial Co. (NASDAQ:GOOD) declared a monthly dividend on Wednesday, January 15th,Wall Street Journal reports. Shareholders 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 yield of 7.45%. The ex-dividend date of this dividend is Wednesday, March 19th.

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% meaning 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 NASDAQ GOOD opened at $16.11 on Thursday. The business has a 50 day simple moving average of $16.67 and a 200-day simple moving average of $15.80. Gladstone Commercial has a twelve month low of $11.89 and a twelve month high of $17.88. The company has a market capitalization of $707.55 million, a price-to-earnings ratio of 80.55, a price-to-earnings-growth ratio of 1.81 and a beta of 1.25. The company has a current ratio of 3.54, a quick ratio of 3.54 and a debt-to-equity ratio of 4.10.

Wall Street Analyst Weigh In

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

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.