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

Gladstone Commercial Co. (NASDAQ:GOOD - Get Free Report) announced a monthly dividend on Wednesday, April 9th, Wall Street Journal reports. Shareholders 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 dividend on an annualized basis and a yield of 8.77%. The ex-dividend date of this dividend is Friday, June 20th.

Gladstone Commercial has increased its dividend payment by an average of 41.4% per year over the last three years. Gladstone Commercial has a dividend 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. Equities research 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 Up 1.9 %

Shares of Gladstone Commercial stock traded up $0.26 during trading on Monday, hitting $13.69. 521,080 shares of the stock were exchanged, compared to its average volume of 288,268. The firm's 50-day moving average price is $15.21 and its 200 day moving average price is $16.01. The stock has a market cap of $626.41 million, a price-to-earnings ratio of 52.65, a price-to-earnings-growth ratio of 1.82 and a beta of 1.17. Gladstone Commercial has a 12-month low of $12.67 and a 12-month high of $17.88. The company has a debt-to-equity ratio of 4.05, a current ratio of 5.68 and a quick ratio of 3.54.

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

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Gladstone Commercial from a "buy" rating to a "hold" rating in a 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.