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

Gladstone Commercial Co. (NASDAQ:GOOD) announced a dividend on Thursday, January 23rd,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 7.45%. The ex-dividend date is Friday, January 24th.

Gladstone Commercial has raised 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% 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 Stock Performance

Shares of NASDAQ:GOOD traded down $0.01 during trading on Thursday, hitting $16.11. The stock had a trading volume of 300,305 shares, compared to its average volume of 208,450. Gladstone Commercial has a 12-month low of $11.89 and a 12-month high of $17.88. The stock has a market capitalization of $707.55 million, a price-to-earnings ratio of 80.55, a price-to-earnings-growth ratio of 1.89 and a beta of 1.25. The company has a quick ratio of 3.54, a current ratio of 3.54 and a debt-to-equity ratio of 4.10. The stock has a 50-day simple moving average of $16.59 and a two-hundred day simple moving average of $15.88.

Analyst Upgrades and Downgrades

GOOD has been the subject of several research analyst reports. B. Riley restated a “neutral” rating and issued a $15.00 price objective (up from $13.50) on shares of Gladstone Commercial in a research note on Thursday, October 10th. StockNews.com cut Gladstone Commercial from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Finally, Canaccord Genuity Group upgraded Gladstone Commercial to a “strong-buy” rating in a research note on Friday, October 4th.

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.