Gladstone Commercial Co. (GOOD) to Issue Monthly Dividend of $0.10 on April 30th

Gladstone Commercial Co. (NASDAQ:GOOD) announced a monthly dividend on Tuesday, April 9th, Zacks reports. Investors 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 annualized dividend and a yield of 9.14%. The ex-dividend date is Thursday, April 18th.

Gladstone Commercial has decreased its dividend payment by an average of 7.2% annually over the last three years. Gladstone Commercial has a payout ratio of 2,000.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research 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 Price Performance

Shares of NASDAQ:GOOD opened at $13.13 on Tuesday. Gladstone Commercial has a 12 month low of $10.84 and a 12 month high of $14.14. The stock has a market cap of $529.27 million, a price-to-earnings ratio of -59.68, a PEG ratio of 1.59 and a beta of 1.15. The stock’s 50 day moving average price is $13.01 and its 200 day moving average price is $12.82. The company has a debt-to-equity ratio of 4.79, a current ratio of 3.90 and a quick ratio of 3.90.

Gladstone Commercial (NASDAQ:GOOD) last announced 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 return on equity of 2.36% and a net margin of 2.82%. The firm had revenue of $35.91 million for the quarter, compared to the consensus estimate of $36.80 million. Equities research analysts anticipate that Gladstone Commercial will post 1.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Gladstone Commercial

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC raised its stake in Gladstone Commercial by 40.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 8,341 shares of the real estate investment trust’s stock valued at $110,000 after purchasing an additional 2,413 shares during the period. Tower Research Capital LLC TRC raised its stake in Gladstone Commercial by 467.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 7,019 shares of the real estate investment trust’s stock valued at $109,000 after purchasing an additional 5,781 shares during the period. Osaic Holdings Inc. raised its stake in Gladstone Commercial by 10.0% during the 2nd quarter. Osaic Holdings Inc. now owns 8,724 shares of the real estate investment trust’s stock valued at $108,000 after purchasing an additional 790 shares during the period. FMR LLC raised its stake in Gladstone Commercial by 39.2% during the 3rd quarter. FMR LLC now owns 8,123 shares of the real estate investment trust’s stock valued at $99,000 after purchasing an additional 2,288 shares during the period. Finally, State of Wyoming raised its stake in Gladstone Commercial by 93.1% during the 4th quarter. State of Wyoming now owns 5,012 shares of the real estate investment trust’s stock valued at $93,000 after purchasing an additional 2,417 shares during the period. 45.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.