Gladstone Commercial Co. (NASDAQ:GOOD) Plans Monthly Dividend of $0.13

Gladstone Commercial Co. (NASDAQ:GOOD) declared a monthly dividend on Friday, January 14th, Wall Street Journal reports. Stockholders of record on Wednesday, March 23rd will be given a dividend of 0.1254 per share by the real estate investment trust on Thursday, March 31st. This represents a $1.50 annualized dividend and a dividend yield of 6.10%. The ex-dividend date is Tuesday, March 22nd.

Gladstone Commercial has increased its dividend by 0.2% over the last three years and has increased its dividend annually for the last 2 consecutive years. Gladstone Commercial has a dividend payout ratio of 3,000.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Gladstone Commercial to earn $1.65 per share next year, which means the company should continue to be able to cover its $1.50 annual dividend with an expected future payout ratio of 90.9%.

Shares of GOOD traded down $0.22 during trading hours on Friday, hitting $24.68. The company had a trading volume of 151,549 shares, compared to its average volume of 186,175. The firm has a fifty day moving average price of $23.61 and a 200-day moving average price of $22.73. The company has a debt-to-equity ratio of 3.34, a quick ratio of 6.05 and a current ratio of 6.05. The stock has a market capitalization of $919.77 million, a price-to-earnings ratio of 498.00, a P/E/G ratio of 2.47 and a beta of 1.03. Gladstone Commercial has a 52-week low of $17.46 and a 52-week high of $26.13.

Gladstone Commercial (NASDAQ:GOOD) last issued its earnings results on Sunday, October 31st. The real estate investment trust reported $0.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.05. Gladstone Commercial had a return on equity of 7.47% and a net margin of 11.53%. The business had revenue of $34.33 million during the quarter, compared to analyst estimates of $34.90 million. During the same quarter in the previous year, the firm earned $0.40 EPS. Research analysts anticipate that Gladstone Commercial will post 1.58 earnings per share for the current fiscal year.

In other Gladstone Commercial news, CFO Gary Gerson purchased 1,900 shares of Gladstone Commercial stock in a transaction dated Monday, December 13th. The stock was purchased at an average price of $22.85 per share, with a total value of $43,415.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.74% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GOOD. Morgan Stanley increased its position in shares of Gladstone Commercial by 17.0% during the 2nd quarter. Morgan Stanley now owns 115,674 shares of the real estate investment trust’s stock valued at $2,610,000 after purchasing an additional 16,815 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Gladstone Commercial by 4.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 298,939 shares of the real estate investment trust’s stock valued at $6,286,000 after purchasing an additional 12,653 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Gladstone Commercial by 239.9% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 9,476 shares of the real estate investment trust’s stock valued at $199,000 after purchasing an additional 6,688 shares during the last quarter. LPL Financial LLC grew its stake in shares of Gladstone Commercial by 42.1% during the 3rd quarter. LPL Financial LLC now owns 20,984 shares of the real estate investment trust’s stock valued at $441,000 after acquiring an additional 6,212 shares during the period. Finally, Royal Bank of Canada grew its stake in shares of Gladstone Commercial by 14.1% during the 3rd quarter. Royal Bank of Canada now owns 22,177 shares of the real estate investment trust’s stock valued at $466,000 after acquiring an additional 2,743 shares during the period. 50.23% of the stock is owned by hedge funds and other institutional investors.

GOOD has been the subject of a number of recent analyst reports. Colliers Securities reissued a “buy” rating and issued a $26.00 target price on shares of Gladstone Commercial in a research report on Monday, November 29th. Zacks Investment Research lowered Gladstone Commercial from a “buy” rating to a “hold” rating in a research report on Wednesday, January 5th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $26.50.

About Gladstone Commercial

Gladstone Commercial Corp. is a real estate investment trust, which engages in the acquisition, managing and ownership of office and industrial properties. Its portfolio consists of single-tenant commercial and industrial real properties. The company was founded by David John Gladstone on February 14, 2003 and is headquartered in McLean, VA.

Further Reading: Understanding Compound Annual Growth Rate (CAGR)

Dividend History for Gladstone Commercial (NASDAQ:GOOD)

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