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

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 annualized dividend and a dividend 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% annually over the last three years. Gladstone Commercial has a dividend 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. Equities 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 Trading Up 0.9 %

Shares of Gladstone Commercial stock traded up $0.12 during trading hours on Wednesday, hitting $13.09. The company’s stock had a trading volume of 190,838 shares, compared to its average volume of 232,233. Gladstone Commercial has a 12 month low of $10.84 and a 12 month high of $14.14. The stock has a 50 day moving average of $13.02 and a 200 day moving average of $12.82. The company has a market capitalization of $527.66 million, a PE ratio of -58.95, a price-to-earnings-growth ratio of 1.58 and a beta of 1.15. 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 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). Gladstone Commercial had a return on equity of 2.36% and a net margin of 2.82%. The business had revenue of $35.91 million during the quarter, compared to the consensus estimate of $36.80 million. Analysts predict that Gladstone Commercial will post 1.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Legal & General Group Plc boosted its position in shares of Gladstone Commercial by 4.1% during the fourth quarter. Legal & General Group Plc now owns 17,569 shares of the real estate investment trust’s stock worth $325,000 after buying an additional 696 shares during the period. Cetera Advisor Networks LLC boosted its position in Gladstone Commercial by 5.2% during the first quarter. Cetera Advisor Networks LLC now owns 15,759 shares of the real estate investment trust’s stock valued at $347,000 after purchasing an additional 778 shares during the last quarter. Osaic Holdings Inc. boosted its position in Gladstone Commercial by 10.0% during the second 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 last quarter. Guggenheim Capital LLC boosted its position in Gladstone Commercial by 7.2% during the third quarter. Guggenheim Capital LLC now owns 13,133 shares of the real estate investment trust’s stock valued at $204,000 after purchasing an additional 886 shares during the last quarter. Finally, FMR LLC boosted its position in Gladstone Commercial by 22.6% during the second quarter. FMR LLC now owns 4,945 shares of the real estate investment trust’s stock valued at $93,000 after purchasing an additional 911 shares during the last quarter. 45.51% of the stock is owned by institutional investors and hedge funds.

Gladstone Commercial Company Profile

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.