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

Gladstone Commercial Co. (NASDAQ:GOOD) announced a monthly dividend on Thursday, January 16th,Wall Street Journal reports. Shareholders of record on Wednesday, March 19th will be given a dividend of 0.10 per share by the real estate investment trust on Monday, March 31st. This represents a $1.20 annualized dividend and a yield of 7.32%. The ex-dividend date of this dividend is Wednesday, March 19th.

Gladstone Commercial has increased its dividend by an average of 41.6% per year over the last three years. Gladstone Commercial has a dividend 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. 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 1.7 %

Gladstone Commercial stock opened at $16.39 on Friday. The company has a market capitalization of $719.85 million, a P/E ratio of 81.95, a P/E/G ratio of 1.81 and a beta of 1.25. Gladstone Commercial has a 1-year low of $11.89 and a 1-year high of $17.88. The firm’s fifty day simple moving average is $16.66 and its 200-day simple moving average is $15.81. The company has a current ratio of 3.54, a quick ratio of 3.54 and a debt-to-equity ratio of 4.10.

Analysts Set New Price Targets

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

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.