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

Gladstone Commercial Co. (NASDAQ:GOOD) announced a monthly dividend on Monday, April 15th, Wall Street Journal reports. Shareholders of record on Wednesday, June 19th will be paid a dividend of 0.10 per share by the real estate investment trust on Friday, June 28th. This represents a $1.20 annualized dividend and a yield of 9.25%. The ex-dividend date of this dividend is Tuesday, June 18th.

Gladstone Commercial has decreased its dividend payment by an average of 7.2% annually over the last three years. Gladstone Commercial has a dividend payout ratio of 2,000.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Gladstone Commercial to earn $1.42 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 84.5%.

Gladstone Commercial Stock Performance

Shares of GOOD opened at $12.97 on Wednesday. The business’s fifty day simple moving average is $13.02 and its two-hundred day simple moving average is $12.82. The company has a current ratio of 3.90, a quick ratio of 3.90 and a debt-to-equity ratio of 4.79. Gladstone Commercial has a 12 month low of $10.84 and a 12 month high of $14.14. The company has a market cap of $522.82 million, a price-to-earnings ratio of -58.95, a P/E/G ratio of 1.58 and a beta of 1.15.

Gladstone Commercial (NASDAQ:GOOD) last issued its earnings results on Wednesday, February 21st. The real estate investment trust reported $0.03 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.31). Gladstone Commercial had a net margin of 2.82% and a return on equity of 2.36%. The business had revenue of $35.91 million for the quarter, compared to analysts’ expectations of $36.80 million. Research analysts anticipate that Gladstone Commercial will post 1.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Alliance Global Partners started coverage on Gladstone Commercial in a research note on Monday, March 18th. They issued a “buy” rating and a $15.50 price target on the stock.

Hedge Funds Weigh In On Gladstone Commercial

A number of institutional investors and hedge funds have recently modified their holdings of GOOD. Money Concepts Capital Corp bought a new position in Gladstone Commercial in the 4th quarter worth $30,000. Lazard Asset Management LLC bought a new position in Gladstone Commercial in the 1st quarter worth $30,000. Federated Hermes Inc. bought a new position in Gladstone Commercial in the 1st quarter worth $37,000. PNC Financial Services Group Inc. raised its holdings in Gladstone Commercial by 64.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,432 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 1,339 shares during the period. Finally, Advisory Services Network LLC bought a new position in Gladstone Commercial in the 4th quarter worth $83,000. 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 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.