Gladstone Commercial Co. (GOOD) to Issue Monthly Dividend of $0.10 on September 30th

Gladstone Commercial Co. (NASDAQ:GOOD) declared a monthly dividend on Tuesday, July 9th, Wall Street Journal reports. Shareholders of record on Friday, September 20th will be given a dividend of 0.10 per share by the real estate investment trust on Monday, September 30th. This represents a $1.20 annualized dividend and a yield of 7.40%. The ex-dividend date of this dividend is Friday, September 20th.

Gladstone Commercial has increased its dividend by an average of 28.9% per year over the last three years. Gladstone Commercial has a payout ratio of -1,090.9% 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 $1.39 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 86.3%.

Gladstone Commercial Trading Up 0.6 %

NASDAQ GOOD opened at $16.22 on Wednesday. The stock has a market capitalization of $649.68 million, a price-to-earnings ratio of -85.37, a PEG ratio of 1.86 and a beta of 1.21. Gladstone Commercial has a one year low of $11.40 and a one year high of $16.36. The company has a debt-to-equity ratio of 4.95, a current ratio of 3.29 and a quick ratio of 3.29. The business’s fifty day moving average is $14.92 and its 200-day moving average is $14.20.

Gladstone Commercial (NASDAQ:GOOD) last posted its earnings results on Tuesday, August 6th. The real estate investment trust reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.37). Gladstone Commercial had a net margin of 7.90% and a return on equity of 7.34%. The company had revenue of $37.06 million for the quarter, compared to analysts’ expectations of $35.89 million. During the same period in the previous year, the firm earned $0.41 EPS. Equities research analysts predict that Gladstone Commercial will post 1.38 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.