Gladstone Commercial Co. (NASDAQ:GOOD) Declares $0.10 Dividend

Gladstone Commercial Co. (NASDAQ:GOOD) declared a dividend on Wednesday, January 22nd,investing.com reports. Investors of record on Monday, January 27th will be paid a dividend of 0.10 per share by the real estate investment trust on Friday, January 31st. This represents a dividend yield of 7.44%. The ex-dividend date is Friday, January 24th.

Gladstone Commercial has raised 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. 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 Trading Down 1.6 %

Shares of GOOD stock traded down $0.27 during trading hours on Wednesday, hitting $16.12. 320,288 shares of the company were exchanged, compared to its average volume of 201,414. Gladstone Commercial has a 1 year low of $11.89 and a 1 year high of $17.88. The firm has a fifty day moving average of $16.60 and a 200 day moving average of $15.87. The firm has a market cap of $707.99 million, a PE ratio of 80.60, a PEG ratio of 1.88 and a beta of 1.25. The company has a quick ratio of 3.54, a current ratio of 3.54 and a debt-to-equity ratio of 4.10.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on GOOD shares. Canaccord Genuity Group upgraded Gladstone Commercial to a “strong-buy” rating in a report on Friday, October 4th. StockNews.com cut Gladstone Commercial from a “buy” rating to a “hold” rating in a report on Wednesday, December 18th. Finally, B. Riley restated a “neutral” rating and issued a $15.00 price target (up previously from $13.50) on shares of Gladstone Commercial in a report on Thursday, October 10th.

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.