Gladstone Commercial Co. (GOOD) to Issue Monthly Dividend of $0.10 on December 31st

Gladstone Commercial Co. (NASDAQ:GOOD) declared a monthly dividend on Monday, October 14th, Wall Street Journal reports. Shareholders of record on Friday, December 20th will be given a dividend of 0.10 per share by the real estate investment trust on Tuesday, December 31st. This represents a $1.20 dividend on an annualized basis and a yield of 7.36%. The ex-dividend date of this dividend is Friday, December 20th.

Gladstone Commercial has raised its dividend payment by an average of 28.9% annually over the last three years. Gladstone Commercial has a payout ratio of -1,090.9% 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 $1.39 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 86.3%.

Gladstone Commercial Stock Up 1.4 %

NASDAQ:GOOD opened at $16.31 on Wednesday. Gladstone Commercial has a fifty-two week low of $11.40 and a fifty-two week high of $16.43. The stock has a market capitalization of $653.28 million, a P/E ratio of -85.84, a P/E/G ratio of 1.94 and a beta of 1.21. The company has a debt-to-equity ratio of 4.95, a quick ratio of 3.29 and a current ratio of 3.29. The company’s 50-day simple moving average is $15.46 and its 200-day simple moving average is $14.59.

Gladstone Commercial (NASDAQ:GOOD) last announced its quarterly earnings data on Tuesday, August 6th. The real estate investment trust reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.33 by ($0.37). The business had revenue of $37.06 million for the quarter, compared to analyst estimates of $35.89 million. Gladstone Commercial had a net margin of 7.90% and a return on equity of 7.34%. During the same quarter in the previous year, the firm posted $0.41 earnings per share. On average, equities analysts anticipate that Gladstone Commercial will post 1.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on GOOD shares. Canaccord Genuity Group upgraded shares of Gladstone Commercial to a “strong-buy” rating in a research note on Friday, October 4th. StockNews.com lowered shares of Gladstone Commercial from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Finally, B. Riley reissued 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.

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.