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

Gladstone Commercial Co. (NASDAQ:GOOD) declared a dividend on Tuesday, January 21st,investing.com reports. Stockholders of record on Monday, January 27th will be given a dividend of 0.10 per share by the real estate investment trust on Friday, January 31st. This represents a dividend yield of 7.32%. The ex-dividend date is Friday, January 24th.

Gladstone Commercial has increased its dividend by an average of 41.6% annually over the last three years. Gladstone Commercial has a payout ratio of 413.8% 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 $1.45 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 Price Performance

GOOD stock opened at $16.39 on Wednesday. The stock has a market cap of $719.85 million, a PE ratio of 81.95, a price-to-earnings-growth ratio of 1.88 and a beta of 1.25. The stock has a 50-day moving average price of $16.62 and a two-hundred day moving average price of $15.86. The company has a current ratio of 3.54, a quick ratio of 3.54 and a debt-to-equity ratio of 4.10. Gladstone Commercial has a 1 year low of $11.89 and a 1 year high of $17.88.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GOOD. B. Riley restated a “neutral” rating and issued a $15.00 price objective (up previously from $13.50) on shares of Gladstone Commercial in a report on Thursday, October 10th. Canaccord Genuity Group upgraded Gladstone Commercial to a “strong-buy” rating in a report on Friday, October 4th. Finally, StockNews.com downgraded shares of Gladstone Commercial from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th.

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.