Gladstone Commercial Co. (NASDAQ:GOOD) Plans $0.13 Monthly Dividend

Gladstone Commercial Co. (NASDAQ:GOOD) declared a monthly dividend on Tuesday, January 11th, Zacks reports. Investors of record on Friday, January 21st will be given a dividend of 0.125 per share by the real estate investment trust on Monday, January 31st. This represents a $1.50 dividend on an annualized basis and a yield of 6.12%. The ex-dividend date is Thursday, January 20th.

Gladstone Commercial has raised its dividend payment by 0.2% over the last three years and has increased its dividend every year for the last 2 years. Gladstone Commercial has a dividend payout ratio of 3,000.0% 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 $1.65 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%.

NASDAQ:GOOD opened at $24.52 on Thursday. The stock’s 50 day moving average price is $23.56 and its 200 day moving average price is $22.71. Gladstone Commercial has a 52 week low of $17.46 and a 52 week high of $26.13. The company has a market capitalization of $913.86 million, a P/E ratio of 490.40, a P/E/G ratio of 2.47 and a beta of 1.03. The company has a debt-to-equity ratio of 3.34, a quick ratio of 6.05 and a current ratio of 6.05.

Gladstone Commercial (NASDAQ:GOOD) last released its quarterly earnings data on Sunday, October 31st. The real estate investment trust reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.05. Gladstone Commercial had a return on equity of 7.47% and a net margin of 11.53%. The firm had revenue of $34.33 million for the quarter, compared to the consensus estimate of $34.90 million. During the same quarter in the prior year, the company posted $0.40 earnings per share. As a group, sell-side analysts forecast that Gladstone Commercial will post 1.58 earnings per share for the current fiscal year.

GOOD has been the topic of several analyst reports. Colliers Securities reiterated a “buy” rating and set a $26.00 price target on shares of Gladstone Commercial in a report on Monday, November 29th. Zacks Investment Research downgraded Gladstone Commercial from a “buy” rating to a “hold” rating in a report on Wednesday, January 5th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $26.50.

In related news, CFO Gary Gerson acquired 3,500 shares of the stock in a transaction dated Thursday, December 9th. The shares were acquired at an average price of $22.96 per share, for a total transaction of $80,360.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.74% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. UBS Group AG grew its stake in shares of Gladstone Commercial by 22.6% in the third quarter. UBS Group AG now owns 7,824 shares of the real estate investment trust’s stock worth $164,000 after acquiring an additional 1,440 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of Gladstone Commercial by 239.9% in the third quarter. BNP Paribas Arbitrage SA now owns 9,476 shares of the real estate investment trust’s stock worth $199,000 after acquiring an additional 6,688 shares during the last quarter. LPL Financial LLC grew its stake in shares of Gladstone Commercial by 42.1% in the third quarter. LPL Financial LLC now owns 20,984 shares of the real estate investment trust’s stock worth $441,000 after acquiring an additional 6,212 shares during the last quarter. Royal Bank of Canada lifted its position in Gladstone Commercial by 14.1% in the third quarter. Royal Bank of Canada now owns 22,177 shares of the real estate investment trust’s stock worth $466,000 after purchasing an additional 2,743 shares during the period. Finally, Morgan Stanley lifted its position in Gladstone Commercial by 17.0% in the second quarter. Morgan Stanley now owns 115,674 shares of the real estate investment trust’s stock worth $2,610,000 after purchasing an additional 16,815 shares during the period. Institutional investors and hedge funds own 50.23% of the company’s stock.

Gladstone Commercial Company Profile

Gladstone Commercial Corp. is a real estate investment trust, which engages in the acquisition, managing and ownership of office and industrial properties. Its portfolio consists of single-tenant commercial and industrial real properties. The company was founded by David John Gladstone on February 14, 2003 and is headquartered in McLean, VA.

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Dividend History for Gladstone Commercial (NASDAQ:GOOD)

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