Gladstone Commercial Co. (NASDAQ:GOOD - Get Free Report) announced a monthly dividend on Thursday, January 16th,Wall Street Journal reports. Shareholders of record on Wednesday, March 19th will be paid a dividend of 0.10 per share by the real estate investment trust on Monday, March 31st. This represents a $1.20 annualized dividend and a yield of 7.32%. The ex-dividend date of this dividend is Wednesday, March 19th.
Gladstone Commercial has raised its dividend by an average of 41.6% per year over the last three years. Gladstone Commercial has a dividend 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 Up 1.7 %
Shares of GOOD traded up $0.28 during mid-day trading on Thursday, reaching $16.39. The company's stock had a trading volume of 95,555 shares, compared to its average volume of 178,341. Gladstone Commercial has a 52 week low of $11.89 and a 52 week high of $17.88. The stock has a market cap of $719.85 million, a PE ratio of 81.95, a P/E/G ratio of 1.81 and a beta of 1.25. The company's fifty day moving average price is $16.67 and its two-hundred day moving average price is $15.80. The company has a current ratio of 3.54, a quick ratio of 3.54 and a debt-to-equity ratio of 4.10.
Analysts Set New Price Targets
Several research firms have issued reports on GOOD. Canaccord Genuity Group upgraded shares of Gladstone Commercial to a "strong-buy" rating in a research report on Friday, October 4th. StockNews.com lowered Gladstone Commercial from a "buy" rating to a "hold" rating in a research report on Wednesday, December 18th. Finally, B. Riley reiterated a "neutral" rating and issued a $15.00 price objective (up previously from $13.50) on shares of Gladstone Commercial in a research report on Thursday, October 10th.
Check Out Our Latest Research Report on GOOD
Gladstone Commercial Company Profile
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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.
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