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

Gladstone Commercial Co. (NASDAQ:GOOD) declared a monthly dividend on Wednesday, January 15th,Wall Street Journal reports. Investors of record on Wednesday, March 19th will be given a dividend of 0.10 per share by the real estate investment trust on Monday, March 31st. This represents a $1.20 dividend on an annualized basis and a yield of 7.44%. The ex-dividend date of this dividend is Wednesday, March 19th.

Gladstone Commercial has increased its dividend by an average of 41.6% annually over the last three years. 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 research analysts expect Gladstone Commercial to earn $1.45 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 82.8%.

Gladstone Commercial Stock Up 1.6 %

Shares of NASDAQ GOOD traded up $0.25 during midday trading on Wednesday, hitting $16.13. 125,743 shares of the stock traded hands, compared to its average volume of 179,809. The company has a debt-to-equity ratio of 4.10, a quick ratio of 3.54 and a current ratio of 3.54. Gladstone Commercial has a one year low of $11.89 and a one year high of $17.88. The business has a 50 day moving average price of $16.69 and a two-hundred day moving average price of $15.80. The company has a market cap of $708.41 million, a PE ratio of 80.65, a P/E/G ratio of 1.96 and a beta of 1.25.

Analyst Upgrades and Downgrades

A number of brokerages have commented on GOOD. Canaccord Genuity Group upgraded shares of Gladstone Commercial to a “strong-buy” rating in a research note on Friday, October 4th. B. Riley reiterated a “neutral” rating and set a $15.00 price objective (up from $13.50) on shares of Gladstone Commercial in a report on Thursday, October 10th. Finally, StockNews.com lowered shares of Gladstone Commercial from a “buy” rating to a “hold” rating in a report on Wednesday, December 18th.

About Gladstone Commercial

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.