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

Gladstone Commercial Co. (NASDAQ:GOOD) declared a monthly dividend on Thursday, January 16th, 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 8.06%. The ex-dividend date of this dividend is Wednesday, March 19th.

Gladstone Commercial has raised its dividend by an average of 41.4% annually over the last three years. Gladstone Commercial has a dividend payout ratio of 600.0% 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 $1.50 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 80.0%.

Gladstone Commercial Stock Up 1.0 %

GOOD stock opened at $14.89 on Monday. Gladstone Commercial has a 52 week low of $12.85 and a 52 week high of $17.88. The company has a quick ratio of 3.54, a current ratio of 5.68 and a debt-to-equity ratio of 4.05. The firm has a 50-day simple moving average of $15.97 and a 200-day simple moving average of $16.21. The stock has a market capitalization of $658.03 million, a P/E ratio of 57.27, a P/E/G ratio of 1.82 and a beta of 1.24.

Gladstone Commercial (NASDAQ:GOOD) last issued its quarterly earnings results on Tuesday, February 18th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.24. Gladstone Commercial had a return on equity of 15.16% and a net margin of 16.09%. The firm had revenue of $37.38 million for the quarter, compared to analyst estimates of $38.04 million. Equities analysts forecast that Gladstone Commercial will post 1.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com cut Gladstone Commercial from a “buy” rating to a “hold” rating in a report on Wednesday, December 18th.

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.