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

Gladstone Commercial Co. (NASDAQ:GOOD) declared a monthly dividend on Tuesday, July 9th, Wall Street Journal reports. Stockholders of record on Wednesday, August 21st will be given a dividend of 0.10 per share by the real estate investment trust on Friday, August 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 8.17%. The ex-dividend date of this dividend is Wednesday, August 21st.

Gladstone Commercial has raised its dividend by an average of 28.9% annually over the last three years. Gladstone Commercial has a payout ratio of 6,000.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Gladstone Commercial to earn $1.40 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 85.7%.

Gladstone Commercial Stock Performance

NASDAQ:GOOD opened at $14.68 on Tuesday. Gladstone Commercial has a 52-week low of $11.40 and a 52-week high of $15.32. The business’s fifty day moving average is $14.44 and its 200 day moving average is $13.79. The company has a debt-to-equity ratio of 4.85, a quick ratio of 3.67 and a current ratio of 3.67. The firm has a market cap of $587.99 million, a price-to-earnings ratio of -77.26, a PEG ratio of 1.83 and a beta of 1.19.

Gladstone Commercial (NASDAQ:GOOD) last announced its quarterly earnings results on Tuesday, August 6th. The real estate investment trust reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.37). Gladstone Commercial had a net margin of 3.60% and a return on equity of 3.19%. The company had revenue of $37.06 million for the quarter, compared to the consensus estimate of $35.89 million. During the same quarter in the prior year, the company earned $0.41 earnings per share. Research analysts predict that Gladstone Commercial will post 1.36 EPS for the current year.

Wall Street Analyst Weigh In

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

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.