Gladstone Commercial Co. (GOOD) to Issue Monthly Dividend of $0.10 on October 31st

by · The Cerbat Gem

Gladstone Commercial Co. (NASDAQ:GOOD – Get Free Report) declared a monthly dividend on Tuesday, October 8th, Zacks reports. Stockholders of record on Tuesday, October 22nd will be given a dividend of 0.10 per share by the real estate investment trust on Thursday, October 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.50%. The ex-dividend date is Tuesday, October 22nd.

Gladstone Commercial has increased its dividend payment by an average of 28.9% per year over the last three years. Gladstone Commercial has a dividend payout ratio of -1,090.9% meaning 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 $1.39 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 86.3%.

Gladstone Commercial Stock Down 0.9 %

Shares of Gladstone Commercial stock traded down $0.14 during midday trading on Thursday, reaching $16.00. 17,871 shares of the company’s stock traded hands, compared to its average volume of 245,257. The company has a market cap of $640.86 million, a price-to-earnings ratio of -84.37, a price-to-earnings-growth ratio of 1.91 and a beta of 1.21. The company’s 50 day simple moving average is $15.31 and its 200 day simple moving average is $14.50. The company has a debt-to-equity ratio of 4.95, a quick ratio of 3.29 and a current ratio of 3.29. Gladstone Commercial has a 52 week low of $11.40 and a 52 week high of $16.43.

Gladstone Commercial (NASDAQ:GOOD – Get Free Report) last announced its earnings results on Tuesday, August 6th. The real estate investment trust reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.33 by ($0.37). The firm had revenue of $37.06 million during the quarter, compared to the consensus estimate of $35.89 million. Gladstone Commercial had a return on equity of 7.34% and a net margin of 7.90%. During the same quarter last year, the business earned $0.41 EPS. Equities analysts expect that Gladstone Commercial will post 1.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

GOOD has been the topic of several research reports. StockNews.com downgraded shares of Gladstone Commercial from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Canaccord Genuity Group upgraded shares of Gladstone Commercial to a “strong-buy” rating in a research report on Friday, October 4th. Finally, B. Riley reiterated a “neutral” rating and set a $15.00 target price (up from $13.50) on shares of Gladstone Commercial in a research report on Thursday.

Check Out Our Latest Analysis on GOOD

About Gladstone Commercial

(Get Free Report)

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.

See Also