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

Gladstone Commercial Co. (NASDAQ:GOOD) announced a dividend on Wednesday, January 22nd,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 7.44%. The ex-dividend date of this dividend is Friday, January 24th.

Gladstone Commercial has raised its dividend by an average of 41.6% per year 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. 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 Price Performance

Shares of Gladstone Commercial stock traded down $0.27 on Wednesday, hitting $16.12. 320,288 shares of the company traded hands, compared to its average volume of 201,414. The stock has a market capitalization of $707.99 million, a P/E ratio of 80.60, a price-to-earnings-growth ratio of 1.88 and a beta of 1.25. The company has a debt-to-equity ratio of 4.10, a quick ratio of 3.54 and a current ratio of 3.54. Gladstone Commercial has a 52 week low of $11.89 and a 52 week high of $17.88. The business has a 50-day simple moving average of $16.60 and a 200 day simple moving average of $15.87.

Analyst Upgrades and Downgrades

GOOD has been the topic of several research reports. B. Riley restated 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 cut shares of Gladstone Commercial from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Finally, Canaccord Genuity Group upgraded shares of Gladstone Commercial to a “strong-buy” rating in a research report on Friday, October 4th.

Gladstone Commercial Company Profile

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.