Gladstone Commercial Co. (GOOD) To Go Ex-Dividend on June 18th

Gladstone Commercial Co. (NASDAQ:GOOD) announced a monthly dividend on Monday, April 15th, Wall Street Journal reports. Shareholders of record on Wednesday, June 19th will be paid a dividend of 0.10 per share by the real estate investment trust on Friday, June 28th. This represents a $1.20 dividend on an annualized basis and a yield of 9.25%. The ex-dividend date of this dividend is Tuesday, June 18th.

Gladstone Commercial has decreased its dividend payment by an average of 7.2% per year over the last three years. Gladstone Commercial has a dividend 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. 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 Trading Down 1.2 %

Shares of Gladstone Commercial stock opened at $12.97 on Wednesday. The company has a debt-to-equity ratio of 4.79, a quick ratio of 3.90 and a current ratio of 3.90. Gladstone Commercial has a 52 week low of $10.84 and a 52 week high of $14.14. The stock has a 50 day moving average price of $13.02 and a two-hundred day moving average price of $12.82. The stock has a market capitalization of $522.82 million, a PE ratio of -58.95, a price-to-earnings-growth ratio of 1.58 and a beta of 1.15.

Gladstone Commercial (NASDAQ:GOOD) last announced its quarterly earnings data on Wednesday, February 21st. The real estate investment trust reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.31). The firm had revenue of $35.91 million during the quarter, compared to analyst estimates of $36.80 million. Gladstone Commercial had a net margin of 2.82% and a return on equity of 2.36%. As a group, equities analysts anticipate that Gladstone Commercial will post 1.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Alliance Global Partners started coverage on Gladstone Commercial in a research report on Monday, March 18th. They set a “buy” rating and a $15.50 target price on the stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of GOOD. GSA Capital Partners LLP bought a new stake in Gladstone Commercial during the fourth quarter worth $232,000. Barclays PLC lifted its holdings in Gladstone Commercial by 344.8% during the fourth quarter. Barclays PLC now owns 62,995 shares of the real estate investment trust’s stock worth $834,000 after acquiring an additional 48,832 shares during the period. Royal Bank of Canada lifted its holdings in Gladstone Commercial by 20.6% during the fourth quarter. Royal Bank of Canada now owns 42,254 shares of the real estate investment trust’s stock worth $559,000 after acquiring an additional 7,207 shares during the period. Northern Trust Corp lifted its holdings in Gladstone Commercial by 3.6% during the fourth quarter. Northern Trust Corp now owns 398,936 shares of the real estate investment trust’s stock worth $5,282,000 after acquiring an additional 13,804 shares during the period. Finally, Tower Research Capital LLC TRC lifted its holdings in Gladstone Commercial by 41.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,868 shares of the real estate investment trust’s stock worth $144,000 after acquiring an additional 3,193 shares during the period. Hedge funds and other institutional investors own 45.51% of the company’s stock.

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.