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

Gladstone Commercial Co. (NASDAQ:GOOD) declared a dividend on Friday, January 24th,investing.com reports. Shareholders 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 yield of 7.48%. The ex-dividend date of this dividend 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. 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 Trading Down 0.4 %

Shares of Gladstone Commercial stock traded down $0.07 on Friday, hitting $16.04. The stock had a trading volume of 159,398 shares, compared to its average volume of 205,240. The company has a quick ratio of 3.54, a current ratio of 3.54 and a debt-to-equity ratio of 4.10. Gladstone Commercial has a one year low of $11.89 and a one year high of $17.88. The stock’s 50-day simple moving average is $16.57 and its two-hundred day simple moving average is $15.88. The stock has a market cap of $704.46 million, a price-to-earnings ratio of 80.20, a PEG ratio of 1.86 and a beta of 1.25.

Wall Street Analyst Weigh In

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

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.