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

Gladstone Commercial Co. (NASDAQ:GOOD) declared a monthly dividend on Tuesday, October 8th,Wall Street Journal reports. Investors of record on Friday, December 20th will be given a dividend of 0.10 per share by the real estate investment trust on Tuesday, December 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.20%. The ex-dividend date of this dividend is Friday, December 20th.

Gladstone Commercial has raised its dividend payment by an average of 28.9% per year over the last three years. Gladstone Commercial has a payout ratio of 444.4% 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 $1.45 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 Stock Up 0.1 %

Shares of NASDAQ GOOD opened at $16.67 on Wednesday. Gladstone Commercial has a 1 year low of $11.89 and a 1 year high of $17.88. The firm has a 50-day simple moving average of $16.73 and a two-hundred day simple moving average of $15.53. The company has a market cap of $732.13 million, a P/E ratio of 83.35, a PEG ratio of 1.97 and a beta of 1.24. The company has a debt-to-equity ratio of 4.10, a current ratio of 3.54 and a quick ratio of 3.54.

Wall Street Analysts Forecast Growth

GOOD has been the subject of a number of recent analyst reports. Canaccord Genuity Group upgraded Gladstone Commercial to a “strong-buy” rating in a report on Friday, October 4th. StockNews.com cut shares of Gladstone Commercial from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, B. Riley reissued a “neutral” rating and issued a $15.00 price objective (up from $13.50) on shares of Gladstone Commercial in a research report on Thursday, October 10th.

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.