Gladstone Commercial Corporation (NASDAQ:GOOD) Shares Will Pay Monthly Dividend of $0.10

Gladstone Commercial Corporation (NASDAQ:GOOD) announced a monthly dividend on Tuesday, October 13th. Stockholders of record on Friday, October 23rd will be given a dividend of $0.10 per share by the real estate investment trust on Friday, October 30th. This represents a $1.20 annualized dividend and a dividend yield of 9.3%. The ex-dividend date of this dividend is Friday, October 23rd.

Gladstone Commercial has a 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. Equities analysts expect Gladstone Commercial to earn $1.41 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 85.1%.

Gladstone Commercial Stock Performance

Shares of GOOD stock opened at $12.84 on Wednesday. The company’s fifty day simple moving average is $12.83 and its 200-day simple moving average is $12.59. Gladstone Commercial has a 52 week low of $10.33 and a 52 week high of $13.28. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 5.43. The company has a market cap of $621.58 million, a PE ratio of 8.84 and a beta of 1.07.

Gladstone Commercial (NASDAQ:GOOD) last posted its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.07. Gladstone Commercial had a net margin of 14.55% and a return on equity of 14.61%. The business had revenue of $43.99 million for the quarter, compared to analyst estimates of $42.18 million. As a group, equities research analysts anticipate that Gladstone Commercial will post 1.39 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have commented on the company. Huntington assumed coverage on Gladstone Commercial in a research note on Wednesday, July 15th. They set a “market perform” rating and a $13.00 price objective on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Gladstone Commercial in a research report on Monday, August 24th. Four equities research analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $12.83.

Gladstone Commercial Company Profile

Gladstone Commercial Corporation is a real estate investment trust (REIT) that acquires, owns and manages income-producing commercial real estate in the United States. The company primarily invests in office and industrial properties, including single-tenant and select multi-tenant facilities leased to business and government tenants.

Gladstone Commercial generally leases its properties under long-term arrangements and seeks to generate rental income through a diversified portfolio of commercial real estate.