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

Gladstone Commercial Co. (NASDAQ:GOOD) announced a dividend on Friday, January 24th,investing.com reports. Stockholders of record on Monday, January 27th will be given a dividend of 0.10 per share by the real estate investment trust on Friday, January 31st. This represents a dividend yield of 7.48%. The ex-dividend date of this dividend is Friday, January 24th.

Gladstone Commercial has increased its dividend by an average of 41.6% per year over the last three years. Gladstone Commercial has a payout ratio of 413.8% 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 $1.45 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 82.8%.

Gladstone Commercial Price Performance

Shares of NASDAQ GOOD opened at $16.04 on Friday. Gladstone Commercial has a 52 week low of $11.89 and a 52 week high of $17.88. The business’s 50 day moving average price is $16.57 and its 200 day moving average price is $15.88. The company has a quick ratio of 3.54, a current ratio of 3.54 and a debt-to-equity ratio of 4.10. The firm has a market cap of $704.48 million, a P/E ratio of 80.20, a P/E/G ratio of 1.86 and a beta of 1.25.

Analysts Set New Price Targets

A number of analysts have recently weighed in on GOOD shares. Canaccord Genuity Group upgraded shares of Gladstone Commercial to a “strong-buy” rating in a research note on Friday, October 4th. B. Riley reaffirmed a “neutral” rating and set a $15.00 price target (up from $13.50) on shares of Gladstone Commercial in a research report on Thursday, October 10th. Finally, StockNews.com downgraded Gladstone Commercial from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th.

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.