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

Gladstone Commercial Co. (NASDAQ:GOOD - Get Free Report) declared a monthly dividend on Thursday, April 10th, Wall Street Journal reports. Stockholders of record on Friday, June 20th will be given a dividend of 0.10 per share by the real estate investment trust on Monday, June 30th. This represents a $1.20 annualized dividend and a dividend yield of 8.65%. The ex-dividend date is Friday, June 20th.

Gladstone Commercial has increased its dividend by an average of 41.4% per year over the last three years. Gladstone Commercial has a payout ratio of 545.5% 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 $1.50 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 80.0%.

Gladstone Commercial Stock Performance

Shares of GOOD stock traded up $0.18 during trading hours on Tuesday, hitting $13.87. The stock had a trading volume of 149,781 shares, compared to its average volume of 287,759. The company has a debt-to-equity ratio of 4.05, a current ratio of 5.68 and a quick ratio of 3.54. The firm has a market capitalization of $634.65 million, a PE ratio of 53.35, a PEG ratio of 1.82 and a beta of 1.17. Gladstone Commercial has a twelve month low of $12.67 and a twelve month high of $17.88. The stock's 50 day moving average is $15.15 and its 200 day moving average is $15.99.

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Gladstone Commercial (NASDAQ:GOOD - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The real estate investment trust reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.11 by $0.24. The business had revenue of $37.38 million during the quarter, compared to analysts' expectations of $38.04 million. Gladstone Commercial had a return on equity of 15.16% and a net margin of 16.09%. As a group, research analysts forecast that Gladstone Commercial will post 1.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Gladstone Commercial from a "buy" rating to a "hold" rating in a research 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.