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

Gladstone Commercial Co. (NASDAQ:GOOD) announced a monthly dividend on Tuesday, April 9th, Wall Street Journal reports. Shareholders of record on Friday, April 19th will be paid a dividend of 0.10 per share by the real estate investment trust on Tuesday, April 30th. This represents a $1.20 dividend on an annualized basis and a yield of 9.17%. The ex-dividend date of this dividend is Thursday, April 18th.

Gladstone Commercial has decreased its dividend payment by an average of 7.2% per year 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. 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 Up 0.9 %

NASDAQ GOOD traded up $0.12 during trading on Wednesday, reaching $13.09. 190,838 shares of the company’s stock were exchanged, compared to its average volume of 232,233. Gladstone Commercial has a fifty-two week low of $10.84 and a fifty-two week high of $14.14. The firm has a market capitalization of $527.66 million, a PE ratio of -58.95, a P/E/G ratio of 1.58 and a beta of 1.15. The company has a current ratio of 3.90, a quick ratio of 3.90 and a debt-to-equity ratio of 4.79. The company’s fifty day simple moving average is $13.02 and its 200-day simple moving average is $12.82.

Gladstone Commercial (NASDAQ:GOOD) last announced its quarterly earnings results on Wednesday, February 21st. The real estate investment trust reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.31). The firm had revenue of $35.91 million for the quarter, compared to analyst estimates of $36.80 million. Gladstone Commercial had a net margin of 2.82% and a return on equity of 2.36%. Sell-side analysts predict that Gladstone Commercial will post 1.38 EPS for the current year.

Institutional Investors Weigh In On Gladstone Commercial

Several institutional investors have recently made changes to their positions in the company. Legal & General Group Plc raised its stake in shares of Gladstone Commercial by 4.1% in the 4th quarter. Legal & General Group Plc now owns 17,569 shares of the real estate investment trust’s stock valued at $325,000 after acquiring an additional 696 shares in the last quarter. Cetera Advisor Networks LLC raised its stake in shares of Gladstone Commercial by 5.2% in the 1st quarter. Cetera Advisor Networks LLC now owns 15,759 shares of the real estate investment trust’s stock valued at $347,000 after acquiring an additional 778 shares in the last quarter. Osaic Holdings Inc. raised its stake in shares of Gladstone Commercial by 10.0% in the 2nd quarter. Osaic Holdings Inc. now owns 8,724 shares of the real estate investment trust’s stock valued at $108,000 after acquiring an additional 790 shares in the last quarter. Guggenheim Capital LLC raised its stake in shares of Gladstone Commercial by 7.2% in the 3rd quarter. Guggenheim Capital LLC now owns 13,133 shares of the real estate investment trust’s stock valued at $204,000 after acquiring an additional 886 shares in the last quarter. Finally, FMR LLC raised its stake in shares of Gladstone Commercial by 22.6% in the 2nd quarter. FMR LLC now owns 4,945 shares of the real estate investment trust’s stock valued at $93,000 after acquiring an additional 911 shares in the last quarter. 45.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Alliance Global Partners initiated coverage on Gladstone Commercial in a report on Monday, March 18th. They set a “buy” rating and a $15.50 price target for the company.

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.