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

Gladstone Commercial Co. (NASDAQ:GOOD) declared a monthly dividend on Tuesday, July 9th, Wall Street Journal reports. Investors of record on Friday, September 20th will be given a dividend of 0.10 per share by the real estate investment trust on Monday, September 30th. This represents a $1.20 dividend on an annualized basis and a yield of 7.40%. The ex-dividend date is Friday, September 20th.

Gladstone Commercial has increased its dividend payment by an average of 28.9% per year over the last three years. Gladstone Commercial has a payout ratio of -1,090.9% 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 $1.39 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 86.3%.

Gladstone Commercial Price Performance

GOOD opened at $16.22 on Wednesday. The company has a current ratio of 3.29, a quick ratio of 3.29 and a debt-to-equity ratio of 4.95. The stock has a market capitalization of $649.68 million, a P/E ratio of -85.37, a PEG ratio of 1.86 and a beta of 1.21. The stock has a 50-day moving average price of $14.92 and a 200-day moving average price of $14.20. Gladstone Commercial has a 12-month low of $11.40 and a 12-month high of $16.36.

Gladstone Commercial (NASDAQ:GOOD) last issued its earnings results on Tuesday, August 6th. The real estate investment trust reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.33 by ($0.37). Gladstone Commercial had a net margin of 7.90% and a return on equity of 7.34%. The business had revenue of $37.06 million for the quarter, compared to analysts’ expectations of $35.89 million. During the same quarter in the prior year, the business posted $0.41 earnings per share. Equities analysts predict that Gladstone Commercial will post 1.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Gladstone Commercial from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th.

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.