Gladstone Commercial Corporation (NASDAQ:GOOD) Stock to Pay Monthly Dividend of $0.10

Gladstone Commercial Corporation (NASDAQ:GOOD) announced a monthly dividend on Tuesday, October 13th. Investors of record on Monday, December 21st will be paid a dividend of $0.10 per share by the real estate investment trust on Thursday, December 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 9.3%. The ex-dividend date of this dividend is Monday, December 21st.

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. 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 Up 0.2%

NASDAQ:GOOD opened at $12.84 on Wednesday. The company’s 50-day simple moving average is $12.83 and its 200-day simple moving average is $12.59. The company has a debt-to-equity ratio of 5.43, a quick ratio of 3.72 and a current ratio of 3.72. Gladstone Commercial has a fifty-two week low of $10.33 and a fifty-two week high of $13.28. The stock has a market capitalization of $621.58 million, a P/E ratio of 49.39 and a beta of 1.07.

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

Institutional Investors Weigh In On Gladstone Commercial

Large investors have recently made changes to their positions in the stock. CX Institutional purchased a new position in shares of Gladstone Commercial during the 3rd quarter worth $29,000. Trust Co. of Vermont acquired a new position in shares of Gladstone Commercial during the 2nd quarter valued at about $40,000. GAMMA Investing LLC grew its holdings in shares of Gladstone Commercial by 218.3% in the third quarter. GAMMA Investing LLC now owns 3,231 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 2,216 shares during the period. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Gladstone Commercial in the first quarter valued at about $46,000. Finally, Integrated Wealth Concepts LLC purchased a new stake in shares of Gladstone Commercial in the second quarter valued at about $56,000. 45.51% of the stock is currently owned by hedge funds and other institutional investors.

About Gladstone Commercial

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.