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

Gladstone Commercial Co. (NASDAQ:GOOD) announced a monthly dividend on Tuesday, April 9th, Zacks reports. Investors of record on Friday, April 19th will be paid a dividend of 0.10 per share by the real estate investment trust on Tuesday, April 30th. This represents a $1.20 annualized dividend and a dividend yield of 9.14%. The ex-dividend date is Thursday, April 18th.

Gladstone Commercial has decreased its dividend by an average of 7.2% annually over the last three years. Gladstone Commercial has a payout ratio of 2,000.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Gladstone Commercial to earn $1.42 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 84.5%.

Gladstone Commercial Stock Performance

Shares of GOOD stock opened at $13.13 on Tuesday. The company has a market capitalization of $529.27 million, a price-to-earnings ratio of -59.68, a PEG ratio of 1.59 and a beta of 1.15. The company has a debt-to-equity ratio of 4.79, a quick ratio of 3.90 and a current ratio of 3.90. The company has a 50-day simple moving average of $13.01 and a 200 day simple moving average of $12.82. Gladstone Commercial has a 52 week low of $10.84 and a 52 week high of $14.14.

Gladstone Commercial (NASDAQ:GOOD) last posted its quarterly earnings data on Wednesday, February 21st. The real estate investment trust reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.31). The business had revenue of $35.91 million during the quarter, compared to the consensus estimate of $36.80 million. Gladstone Commercial had a net margin of 2.82% and a return on equity of 2.36%. On average, sell-side analysts predict that Gladstone Commercial will post 1.38 earnings per share for the current year.

Institutional Trading of Gladstone Commercial

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Legal & General Group Plc increased its position in Gladstone Commercial by 4.1% during the 4th quarter. Legal & General Group Plc now owns 17,569 shares of the real estate investment trust’s stock worth $325,000 after purchasing an additional 696 shares in the last quarter. Cetera Advisor Networks LLC increased its position in Gladstone Commercial by 5.2% in the 1st quarter. Cetera Advisor Networks LLC now owns 15,759 shares of the real estate investment trust’s stock valued at $347,000 after acquiring an additional 778 shares during the period. Osaic Holdings Inc. increased its position in Gladstone Commercial by 10.0% in the 2nd quarter. Osaic Holdings Inc. now owns 8,724 shares of the real estate investment trust’s stock valued at $108,000 after acquiring an additional 790 shares during the period. Guggenheim Capital LLC increased its position in Gladstone Commercial by 7.2% in the 3rd quarter. Guggenheim Capital LLC now owns 13,133 shares of the real estate investment trust’s stock valued at $204,000 after acquiring an additional 886 shares during the period. Finally, FMR LLC increased its position in Gladstone Commercial by 22.6% in the 2nd quarter. FMR LLC now owns 4,945 shares of the real estate investment trust’s stock valued at $93,000 after acquiring an additional 911 shares during the period. Institutional investors own 45.51% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Alliance Global Partners started coverage on shares of Gladstone Commercial in a report on Monday, March 18th. They issued a “buy” rating and a $15.50 price objective for the company.

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.