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

Gladstone Commercial Co. (NASDAQ:GOOD) announced a monthly dividend on Tuesday, July 9th, Wall Street Journal reports. Stockholders of record on Friday, September 20th will be given a dividend of 0.10 per share by the real estate investment trust on Monday, September 30th. This represents a $1.20 annualized dividend and a dividend yield of 7.43%. The ex-dividend date of this dividend is Friday, September 20th.

Gladstone Commercial has raised its dividend by an average of 28.9% annually over the last three years. Gladstone Commercial has a dividend payout ratio of -1,090.9% 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 research 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 Trading Down 0.4 %

Shares of Gladstone Commercial stock opened at $16.15 on Thursday. The company’s fifty day moving average is $14.96 and its two-hundred day moving average is $14.21. Gladstone Commercial has a 1 year low of $11.40 and a 1 year high of $16.43. The company has a debt-to-equity ratio of 4.95, a quick ratio of 3.29 and a current ratio of 3.29. The company has a market capitalization of $646.87 million, a P/E ratio of -85.00, a PEG ratio of 1.86 and a beta of 1.21.

Gladstone Commercial (NASDAQ:GOOD) last released its quarterly 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 company had revenue of $37.06 million for the quarter, compared to analysts’ expectations 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 company earned $0.41 EPS. Analysts forecast that Gladstone Commercial will post 1.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Gladstone Commercial from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th.

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.