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

Gladstone Commercial Co. (NASDAQ:GOOD) announced a monthly dividend on Thursday, January 16th,Wall Street Journal reports. Stockholders 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 dividend yield of 7.32%. The ex-dividend date is Wednesday, March 19th.

Gladstone Commercial has raised its dividend by an average of 41.6% annually over the last three years. Gladstone Commercial has a dividend 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 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

NASDAQ:GOOD opened at $16.39 on Friday. The company has a debt-to-equity ratio of 4.10, a current ratio of 3.54 and a quick ratio of 3.54. Gladstone Commercial has a one year low of $11.89 and a one year high of $17.88. The company has a fifty day moving average price of $16.66 and a 200 day moving average price of $15.81. The stock has a market cap of $719.85 million, a P/E ratio of 81.95, a PEG ratio of 1.81 and a beta of 1.25.

Analyst Ratings Changes

A number of research analysts have recently commented on GOOD shares. StockNews.com lowered shares of Gladstone Commercial from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Canaccord Genuity Group upgraded Gladstone Commercial to a “strong-buy” rating in a research report on Friday, October 4th. Finally, B. Riley reissued a “neutral” rating and set a $15.00 price objective (up previously from $13.50) on shares of Gladstone Commercial in a 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.