Gladstone Commercial Co. (GOOD) Declares Monthly Dividend of $0.13

Gladstone Commercial Co. (NASDAQ:GOOD) announced a monthly dividend on Wednesday, January 9th, Wall Street Journal reports. Stockholders of record on Wednesday, February 20th will be paid a dividend of 0.125 per share by the real estate investment trust on Thursday, February 28th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 7.70%. The ex-dividend date of this dividend is Tuesday, February 19th.

Gladstone Commercial has a payout ratio of 94.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Gladstone Commercial to earn $1.65 per share next year, which means the company should continue to be able to cover its $1.50 annual dividend with an expected future payout ratio of 90.9%.

Shares of NASDAQ GOOD traded down $0.08 during mid-day trading on Wednesday, reaching $19.48. The company’s stock had a trading volume of 83,027 shares, compared to its average volume of 125,971. The stock has a market capitalization of $533.95 million, a price-to-earnings ratio of 12.82, a price-to-earnings-growth ratio of 1.87 and a beta of 0.73. The company has a quick ratio of 13.78, a current ratio of 13.78 and a debt-to-equity ratio of 2.19. Gladstone Commercial has a 1-year low of $16.78 and a 1-year high of $20.47.

Gladstone Commercial (NASDAQ:GOOD) last issued its earnings results on Tuesday, October 30th. The real estate investment trust reported ($0.01) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.02. The business had revenue of $26.59 million during the quarter, compared to analysts’ expectations of $26.86 million. Gladstone Commercial had a net margin of 7.96% and a return on equity of 3.26%. As a group, equities research analysts expect that Gladstone Commercial will post 1.6 EPS for the current year.

A number of equities research analysts have recently commented on the stock. Boenning Scattergood set a $21.00 target price on shares of Gladstone Commercial and gave the company a “buy” rating in a research report on Wednesday, October 31st. BidaskClub cut shares of Gladstone Commercial from a “hold” rating to a “sell” rating in a research report on Tuesday, December 4th. ValuEngine upgraded shares of Gladstone Commercial from a “sell” rating to a “hold” rating in a research report on Tuesday, October 23rd. Wedbush upgraded shares of Gladstone Commercial from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 7th. Finally, Zacks Investment Research cut shares of Gladstone Commercial from a “hold” rating to a “sell” rating in a research report on Friday, November 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $21.13.

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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 October 2018, Gladstone Commercial has paid 165 consecutive monthly cash distributions on its common stock.

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Dividend History for Gladstone Commercial (NASDAQ:GOOD)

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